What you need to know on Wall Street today

pulse

March 16, 2018 5:13 PM

Hello. Here's what you need to know on Wall Street today.

For asset managersthese days, the biggest question is not how to boost fees but how to keep from cutting them. And that poses a huge problem for an industry that has struggled to cut costs during a period of booming markets and growth in assets under management.

According to a blue paper released Wednesday byMorgan StanleyandOliver Wyman, industry costs have remained stagnant for the past five years. With fee pressure meaning less in revenue per dollar of assets under management, something's going to have to give.

That's especially true given the risk of what the authors call "disruption in the distribution layer." Right now, fee pressures are mounting despite a distribution model for mutual funds that supports higher fee structures. But a

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