Profit forecasts for asset and wealth managers have been downgraded by as much as 39% for the financial year ahead as "very few" look resilient to market pressures, according to a Peel Hunt analyst note on the sector.
The stockbroker pointed to the difficult final quarter of 2018 for the sector, leading it to curb full-year forecasts downwards from between 6%, for Brooks Macdonald, and 38.6% for Charles Stanley, which...
New financial planning business to open in second half of 2019
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