Wealth managers eye “mass affluent” as tax bites

Reuters – Wealth management firms are counting on new business from the moderately rich as they play down the impact of a possible exodus of the ultra wealthy from tax-hungry Britain.

The likes of steel magnate Lakshmi Mittal and Russian owner of Chelsea football club Roman Abramovich are coveted by firms, but the vast bulk of assets actually come from comfortably-off clients — the so-called mass-affluent — less able to relocate.

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