Profit forecasts for asset and wealth managers have been downgraded by as much as 39% for the financial year ahead as "very few" look resilient to market pressures, according to an analyst note on the sector by Peel Hunt.
The stockbroker pointed to the difficult final quarter of 2018 for the sector, leading it to curb full-year forecasts downwards from between 6%, for Brooks Macdonald, and 38.6% for Charles Stanley, which...
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