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Last year was a mild relief for many wealth managers. The positive returns of global stock markets (the S&P500 alone saw returns of more than 25%) provided a brief respite from the overall arc of slowing growth rates in wealth that was so much in evidence in 2018.
This year, however, wealth managers are not expecting markets or revenues to be as strong. Private bankers surveyed by Euromoney say they are less bullish on revenues in the year ahead than at any time since 2015.
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