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Product-pushers are not delivering real DPM, says head of BNY Mellon WM Greater China

Private banks continue to approach discretionary portfolio management (DPM) from a product-pushing perspective, says the head of Greater China at BNY Mellon Wealth Management (WM), which is different from “true discretionary.” “When you are a client walking into [a private bank] asking for a discretionary mandate, they will show you a high growth mandate or a stable income mandate, depending…

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