MiFID II: Seven key implications for asset and wealth managers
5 Jun 15
EY’s seven ways MiFID II will affect asset and wealth managers
3) Inducements
EY says that inducements are likely to be impacted for asset and wealth management due to the potential implications on their distribution arrangements, costs, revenues and overall business model.
Some key considerations include:
- Inducements may only be paid to non-independent financial advisers;
- Some distribution models may not be viable in the MiFID environment;
- Considerations of the independence of distribution firms;
- Assessment of independent and non-independent status for wealth managers; and
- Disclosure requirements.
