The comparatively bad stock exchanges will probably bring about a turnaround for the independent asset managers.
(Photo: Getty Images; Per-Anders Pettersson)
Frankfurt Even the wealth manager Flossbach von Storch, who has been accustomed to success, has to say goodbye to previous growth rates. “In the 2022 financial year, our commission income will fall to about the level of 2020,” admits co-founder Kurt von Storch. The Cologne house booked around 385 million in net commission income in 2020, and a much higher 685 million euros in 2021.
Flossbach von Storch is by far the largest independent asset manager in Germany. Like all industry representatives who are not dependent on banks, insurers or other financial groups, he can publish his business figures with a delay of up to one year after the end of the financial year. Therefore, the information from all market participants for 2021 is only now available.
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