The asset management sector has significantly increased its income, contributing to approximately 35 percent of the overall growth in the financial sector as a percentage of GDP. This growth is largely influenced by complex fee structures associated with alternative investment vehicles. Despite these high fees, there is little evidence that they result in superior long-term performance for investors.
Additionally, financial profits have surged due to the institutions' advantageous control over the payments system, including various fees from ATM transactions and standard savings and checking accounts. This suggests that the profitability of asset management and related activities does not necessarily correlate with actual value provided to consumers or improved financial outcomes.