Some clients in the 'yield enhancement strategy' say they suffered losses greater than 20% in an investment they were told was 'conservative' and 'low risk.'
Speaking on a wealth management panel at Anthony Scaramucci’s SALT Conference, executives pointed to the influx of capital from investors outside of the industry driving up valuations of RIA firms and accelerating the pace of mergers and acquisitions.
Asset management fees are falling, but the cost to investors remains 'stubbornly high,' said Morningstar CEO Kunal Kapoor at the opening of the research firm's annual investor conference in Chicago.
