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Wealth managers admit suitability tests lack suitability...

News Team, 13/10/2022

Wealth managers have admitted their suitability systems and processes for assessing client portfolios are not suitable for the task, research from behavioural finance specialists Oxford Risk showed.

Its study of around 150 wealth managers across Europe, who collectively manage assets of around €327 billion, found nearly 65 percent agreed that current systems were too reliant on subjective human judgement.

Just five percent wealth managers questioned in the UK, France, Ita...


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