World's wealthy dump fund managers - papers

Investors' lack of faith prompted a quarter of those with financial assets of more $1 million to pull funds from a manager or dismiss their adviser last year, according to a report by Merrill Lynch Wealth Management and Capgemini, the consultant. Individuals of high net worth and ultra-high net worth, who need financial assets of more than $30 million to qualify, are worth a collective $32.8 trillion, according to Merrill and Capgemini's annual World Wealth Report, published yesterday. Full story...