Show them the money

摘要

One of the problems with being rich is that you cannot just leave your money to sit there: you have to do something with it. Few people feel confident enough to throw themselves into the hurly-burly of financial markets on their own. The wealth-management industry exists to take that problem off their hands, for a pretty hefty fee.rnUnfortunately for all concerned, the industry tends to promise more than it can deliver. Last year was disastrous for financial markets, with the MSCI World index of equities falling 42%. Moreover, many clients, having been persuaded of the benefits of diversification in recent years, had bought alternative assets, such as hedge funds and private equity, which supposedly offered absolute (positive) returns un-correlated with the stockmarket.