Investors need to look beyond their investment statements to see an impending “triple threat” of taxes, inflation and fees that may impact their portfolios, according to a new report from Merrill Lynch Wealth Management and Eurasia Group.

The warning comes as taxes and interest rates have been low while inflation has been mild for the last several years. Those conditions could shift as the international landscape changes, and leave investors portfolios vulnerable if they do not take the right steps, the report entitled “Seeking Growth in a G-Zero World” said.

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