Wall Street

Investment platforms face hangover after pandemic party

Published by
Reuters

By Iain Withers and Carolyn Cohn LONDON (Reuters) – The trillion-dollar retail investment express is losing steam, dampening the fortunes of British trading platforms that boomed during lockdowns on the back of a meme stocks frenzy. Many stock-pickers are steering clear of a turbulent market as living costs rise and the economy teeters, squeezing the business of consumer investment platforms that are facing falling fees and thinning margins. Even the biggest fish, such as FTSE-listed Hargreaves Lansdown and AJ Bell and those owned or recently acquired by major banks and asset managers, are str…

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