Rising regulation squeezes wealth managers’ profits

Compliance costs now consume a quarter of wealth managers’ budgets, finds a new report.

Ballooning regulation has wealth managers scrambling to keep pace with changes and allocating an ever-growing portion of their budget to cover compliance costs.

Wealth managers in the Americas are now spending a quarter of their operating budgets on compliance costs according to a report by consultancy Capgemini and RBC Wealth Management a unit of Royal Bank of Canada.

In Asia, the regulatory burden has swollen to a similar proportion said RBC Wealth...

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