In yet another sign of the times, Ulster Bank will wind down its wealth-management division, putting new clients into its financial planning business, according to The Sunday Times.Ulster Bank Wealth, which employs more than 30 people, will be closed and staff redeployed. The division warned well-heeled clients last year to expect modest returns in the future.

“Even if recovery is sustained, normal levels of growth may be closer to 2% than the 3%-4% rates achieved for much of the last decade,” said Alan Dunne, the firm’s investment director.

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