The prospect of earning small fees marketing a reality-based product that is difficult to sell to investors is far less attractive.

FORBES: Everyone Wants Kool Aid: Pruning the Money Management Tree (October 29, 2008)

The prospect of increased scrutiny on fees is prompting employers to change their investment lineups to offer more low-fee funds.

WSJ: 401(k) Plans Step Into the Sunshine

Fears of renewed recession in the rich world and anxiety about the euro zone have dampened stockmarkets and made the lucrative fees from underwriting share and debt issues, or advising on big mergers, seem a distant prospect.

ECONOMIST: London as a financial centre