Billions in private-capital fees fuel wealth advisers' profits

1 min read
Source: Financial Times
Billions in private-capital fees fuel wealth advisers' profits
Photo: Financial Times
TL;DR Summary

A Financial Times analysis shows wealth advisers at banks and independent brokerages earned over $2 billion in servicing and placement fees from evergreen private-capital funds across 16 products since 2017, led by Blackstone Breit and Bcred, with typical fees around 0.25-0.85% annually plus about 0.5% placement and up to 3.5% commissions; critics say adviser incentives helped grow private-capital allocations, while banks defend fiduciary duty and say fees vary by fund, though some have faced outflows recently.

Share this article

Reading Insights

Total Reads

0

Unique Readers

29

Time Saved

7 min

vs 7 min read

Condensed

94%

1,37776 words

Want the full story? Read the original article

Read on Financial Times