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22nd August 2016
Higher fixed salaries across the industry could also result in higher fees for investors, according to Andrew McNally, chief executive of Equitile, the boutique fund house.
“The issue the industry has is that it relies on too-high fees,” he said. “If everyone in the industry adopted Neil Woodford’s approach that [would] massively increase fixed costs, which means the industry is even less incentivised to change its fee [structures].”
Read full article in Financial TimesRisks
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