Why does any investment bank engage in production AND distribution of products? Why not source the products from a best-of-breed selection of firms and then distribute using the bank franchise? This already happens in some areas - how many banks actually run an ETF business versus those who effectively outsource to Mako or Jane Street?
So rather than try and transform a broken business model by adding in any number of buzz words from a list including:
Why don't investment banks recognise their skills in client relationships, compliance, capital allocation and regulatory affairs and leave product to firms better able to develop product that folks want to buy?