Wall Street is racing to manage your wealth. That is a good thing
The hottest trend in finance offers more than just fat profits for advisers
“Where are the customers’ yachts?” asks a wide-eyed visitor to Manhattan, after his host points out the bankers’ and brokers’ boats, bobbing by the pier. The scene, from a book published in 1940, reflects a healthy scepticism of the advice peddled by financiers. Somehow they always seemed to get rich, regardless of how their clients fared.
This article appeared in the Leaders section of the print edition under the headline “Wealth management for the many ”
Leaders September 9th 2023
- The Gulf’s boundless ambition to change the world
- America’s Supreme Court should adopt new ethics standards
- Can Javier Milei’s radical libertarianism save Argentina?
- Heat pumps show how hard decarbonisation will be
- Wall Street is racing to manage your wealth. That is a good thing
- China’s Belt and Road Initiative will keep testing the West
From the September 9th 2023 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Leaders
How to improve clinical trials
Involving more participants can lead to new medical insights
Houthi Inc: the pirates who weaponised globalisation
Their Red Sea protection racket is a disturbing glimpse into an anarchic world
Donald Trump will upend 80 years of American foreign policy
A superpower’s approach to the world is about to be turned on its head
Rising bond yields should spur governments to go for growth
The bond sell-off may partly reflect America’s productivity boom
Much of the damage from the LA fires could have been averted
The lesson of the tragedy is that better incentives will keep people safe
Health warnings about alcohol give only half the story
Enjoyment matters as well as risk