Artemis' Pursglove: The 'tide has gone out' for old pricing models

Asset managers must seize the opportunity to flourish post-RDR as they implement new pricing structures, according to Artemis' new head of retail Richard Pursglove.

Speaking to Investment Week, Pursglove (pictured) described the opportunity to join Artemis as "irresistible", but acknowledges he is arriving at a time when the industry faces a number of challenges. He said the removal of commission-based pricing, a shift upwards in the average size of individual client assets, and increased uncertainty over the future of the industry means client and distributor relationships are more important than ever. On the issue of post-RDR pricing and negotiations with platforms in the UK, Pursglove acknowledged many key players are keeping their powder dry,...