Asia: Disclosure rules on fees for wealth managers in Asia

Hong Kong and Singapore are looking at launching mandatory rules for wealth managers to disclose the amount they are paid by funds to sell their products. This move to increase transparency of fees is similar to initiatives put in place by western regulators after the Lehman Brothers crisis back in ‘08, which are aimed at revealing conflicts of interest. Fee structures between the funds industry and wealth managers could be in for a substantial change, as clients may think more carefully about a fund they are recommended to buy. Andrew Hendry, director at Hong-Kong based Westoun Advisors, mentions that these rules could even push clients to bypass wealth managers and approach fund houses directly.

Fee structures between the funds industry and wealth managers could be in for a substantial change, as clients may think more carefully about a fund they are recommended to buy.

Upcoming Events
17
Mar
21
Australian Lending Awards 2021
Sydney, NSW, Australia
See all upcoming events
map4
Subscribe to receive insights delivered straight to your inbox
Latest news, unbiased expert analysis and insights across banking and finance