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Market Monitor: Don't blame banks for bad investments.
(From Professional Wealth Management (PWM))
Banks and wealth managers should not be held responsible for their client's bad investments, according to Willem van Someren Grve, executive s senior investment manager railed against what he sees as a culture where the wealth manager is automatically deemed responsible for the amount of risk its clients take and where no free will or understanding is attributed to the end investor.
He said: "Banks and distributors are always blamed ...
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