Disintermediation is transforming the way funds are distributed, which is why it is a fitting subject for the first in a series of research reports, written by Funds Europe in association with Clearstream, that examine what the future holds for the funds industry.
Twenty years ago, a middle-aged couple who planned to go on holiday might walk into the premises of their local travel agency, choose from a list of destinations and leave it to their agent to book the flights, hotel and transfers.
Perhaps the most divisive issue examined in this survey concerns the role of technology in guiding investors to make the right choices.
One of the consequences of a greater proportion of self-directed investors in the market is a greater need for financial education.
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