Asia ready for fee-based services now: iFast
Kelvin Yip tells a forum Asia is ready to pay for advice but managers are too focused on fund features over performance. Panelists question the multi-asset craze and call on Hong Kong to step up investor education.
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A message to all fund managers: Asia is ready for fee-based advisory services now, says Kelvin Yip of iFast Financial.
General manager of the online distribution platform, Yip points out that 95% of the firm’s assets are catered to by a fee-based service, with just 5% based on a transaction fee.
“When we meet new fund managers, they say Asia is not ready for a fee-based model yet,” he said on a distribution panel at AsianInvestor’s recent Art of Asset Management conference in Ho…
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