Of course disruption is only painful for some – for others, it is a beautiful thing. The finance industry is witnessing the beginning of consolidation among platforms while, at the same time, new players enter the market. Regulation places intense pressure on business models while mandating ever-greater transparency. Meanwhile, robo-advice and passively-managed funds winnow fees.
Consumers can cheer. Regulators can feel satisfied. New entrants can lick their chops. And incumbents? They had better be prepared.
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