Competition escalates

Distribution Strategies

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Investment banks and private client advisers have seen their profit margins hammeredby the equity market’s ongoing malaise and the overall sluggishness ofthe leading economies. But there remains at least one business where both typesof institutions have benefited: the distribution of structured products to high-net-worthindividuals (HNWIs).

The joint Merrill Lynch/Cap Gemini Ernst & Young World Wealth Report 2002 – theannual ‘bible’ for the wealth management industry – says HNWIfinancial assets

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