Canaccord Genuity Wealth Management (CGWM) CEO David Esfandi has said a bearish outlook brought about by rising US interest rates, trade tensions and other macro issues has left investors facing a period of lower returns and higher volatility, which will "sort the strong from the weak" in wealth management and push some players out of the market.
Esfandi, who joined CGWM in 2014 from his role as managing director of Ashcourt Rowan Asset Management, said smaller firms in particular are set to "fall by the wayside" as we approach 2019 with markets...
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