Others felt it was time for asset managers to adjust and move on. “The market structure is evolving,” said one. “Traditional institutional and wholesale distribution models have merged and managers shouldn’t find it difficult to adapt.”
Another added: “We see it very much with private wealth managers who have both advisory and discretionary books of business. It’s not seen as a conflict there, so why should be it a conflict with institutional clients?”
Many felt that “conflicts exist everywhere, it is the management of them that is important”, with transparency and communication regarded as essential if such conflicts are to be avoided.
