The domestic wealth and funds management sectors are being sideswiped by volatile markets and unrelenting fee pressure, and may look radically different by the year-end, as consolidation forces again sweep the industry.
Insignia Financial, Perpetual’s wealth unit and Platinum Asset Management are among assets in the crosshairs of mergers and acquisitions, and private equity and Commonwealth Bank-owned Colonial First State may soon join their ranks. And there could be others.
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