Criticism of local wealth managers grows louder in Taiwan
Wealth managers at the island's banks are facing increasing criticism over their habit of “churning” clients into new funds. It is fragmenting the industry's overall asset base.
Taiwan banks’ habit of constantly shifting the assets of their investors into new funds in order to earn fees is gaining increasing levels of exasperation among fund houses, online plaform providers and research houses alike—and upsetting the investors themselves, market participants told AsianInvestor.
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