Savings and commissions stifle profits

se Committees on policies and funds Less than one percentage point Italian savers will be one richer each year tens of billions: is what he writes Business and Finance.

First of all, it is necessary to determine the extent of the savings of Italians. According to the prospectus of the Bank of Italy, the financial assets are 4800 billion, divided as follows: 1,600 billion bank deposits; 1200 billion insurance policies and pension funds; $800 billion investments in shares of unlisted companies; And finally, $700 billion in mutual funds. The economic crisis triggered by the Covid-19 virus must be included in this scenario, which is more than just a scratch savings, Zadha. 39% of the families interviewed by the Bank of Italy said they had accumulated savings in 2020, nearly 10% more than in the pre-pandemic period.

What is observed in this scenario is an increase – also – in insurance policies, on a large scale thanks to the solidity of companies, as well as an extensive sales network. “In recent years, following the decline in government bond yields, there has been a revival in mutual fund investment policies (The so-called “linked unit” we talked about Who is the) Often combined into a single “multi-branch” product with a salvageable conventional life policy.

Then we get to the commission node. Consumers do not seem attentive enough to understand the problem, in fact, as initially written, toLower commissions may make consumers earn money themselves.

“If this happens, it is also because the scalpers have always operated in a clear conflict of interest: they do not present the fees to the investor, but are paid by the producers of the money and the policies presented to the customer (obviously with the latter money). The circumstance is known (and for several years, the investors receive periodically calculate all the costs incurred), but no one seemed to care: as if it was natural to face a divorce case flanked by a lawyer paid by the ex-husband, or for the opponent to have a coach to form his favorite team. Only wealthy clients began to rely increasingly on experts Independent small savers still do not. Even if for several years there is a record of “independent” financial advisors, that is, producers do not pay them, most consumers would in fact prefer to continue to rely on traditional sales channels.”

Input also came from the European Union, which seeks to decipher a model unhelpful for savers. But the producers clearly opposed, For fear that a useful model will fall at the expense of a truly new sustainable situation. So the payment must come from savers.