2026年资产管理的未来研究报告 2026 EY Future of Asset Management Study

Contents

Executivesummary3

Chapter1—Whatmightchange:preparingforarangeofradicalfutures4

Chapter2—Wherewearenow:differentiationinassetmanagementremainselusive10

Chapter3—Wherewe’regoingnext:blueprintsforthefutureintheeraofdifferentiation14

Chapter4—Howtogetthere:practicalleversoftransformation24

Chapter5—Conclusion30

Chapter6—Methodology32

Contacts34

32026EYFutureofAssetManagementStudy

Executivesummary

Ifyouwerebuildingtheassetmanageroftomorrow,whatwoulditlooklike,andwhatinvestmentswouldyouprioritize?

Toanswerthis,wegatheredtheplansandpredictionsofassetmanagementCFOs(somerespondentsholddual

CFOandCOOroles)aroundtheworldandcombinedthemwithourexperienceandconversationswithclients.

Ourworkshowsthatassetmanagementleadershave

arobustunderstandingthatfuturegrowthdependson

theirabilitytoscale,offerinnovativeproductstoafull

rangeofclientsegmentsanddistributionchannels,andusetechnology—especiallyartificialintelligence(AI)—tosuperchargeeveryaspectofthevaluechain.

However,strategicvisionsforkeyareasliketechnology,talent,operationsandproductsarerarelydistinctive.

Firmsoftenfavorincrementalchangeoverreinvention,

withmanyneedingtoworkhardertodevelopatruly

distinctivevisionforsuccess.Whilefirmsarethinking

boldlyaboutthefuture,thereisacohortthatiscautiousabouttransformation,withlessfocusonkeyenablers

likedata,theuseofgenerativeAI(GenAI)oremerging

conceptsliketokenization.Andaminorityseemreluctanttoacknowledgetheneedforchangeatall.

Overall,manyfirmsremainunsurehowtodevelopan“unfairadvantage”ora“righttowin.”Thewinners

ofthefuturewillnotmerelyboastexceptionalscale,specializationoradvancedtechnologicalcapabilities.

Theywillhavethestrategicagilitytotransformatpaceandtakeadvantageofnewopportunitiesinanonlinear,accelerated,volatileandinterconnected(NAVI)world.

Toovercometheirindustry’sresistancetochange,futurewinnersneed:

.Aclearvisionofwhattheywilldotocompeteandwininthefuture

.Anunderstandingofhowtheneedforscaleand

assetgatheringisshiftingtowarddifferentiationandsustainableprofitability

.Amodelforthefuturefirmthatcombinescutting-edgecapabilitiesledbyAI—includingfromexternalpartners—inawaythatexpressestheiruniqueDNA

.Thecouragetoembracegenuinetransformationandaclearframeworkforimplementationusingevergreenleversforstrategicchange

.Theabilitytoanticipateandprepareforawiderangeofradicallydifferentpossiblefuturescenarios

Thefutureoftheassetmanagementindustryisone

inwhichfirmswillbemorepurposeful,morefocused,

moreintegratedandmorenetworked.Theleadingfirmswillcreatevalueinverydifferentwaysthaninthepast.

Indeed,theleadingassetmanagersofthefuturemaynotyetexist,consideringthepaceofchange.

Ifassetmanagersaretosucceed,theymustbeabletopivotdecisivelyintothefuture.

Whatmightchange:

preparingforarangeofradicalfutures

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Assetmanagersoperateinanunpredictableand

oftenchaoticenvironment,continuallydisruptedbya

multitudeofdriversincludinggeopolitics,demographics,technologyandsustainability.Thesedriversmean

thatfirmsfaceembeddedinflation,elevatedinterest

ratesandaprofoundlyuncertainoutlook.Riskssuchasmarketbubblesandpoliticalinterferencefluctuateweektoweek.

TheEY“NAVI”

frameworkidentifiesfourkeytraitsofchangeinthepost-pandemicworld:

.Nonlinear:Assetmanagersfacefrequentinflection

pointsthatmarkasharpbreakwiththepast,such

asthelaunchofChatGPTorsuddenconflicts.

Demographicshiftsarereshapingconsumermarkets,labormarketsandsocietalstructures—pushingfirmstoadapt,innovateandreinventoperatingmodelsandpracticesbuiltforalinearworld.

.Accelerated:There’sanacceleratingcadenceof

changeindriversasvariedasprices,connectivity,

politics,naturaldisastersandglobaltrade.Technologyischangingfasterthanever,withAIreshapingwhat’spossibleacrosseverydomain.Techbudgetscontinuetogrow,andcorefunctionalitydominatesspending

despiteassetmanagers’increasingappetitetoadoptdisruptivetechnologiesacrosstheirbusiness.

.Volatile:Theenvironmentismarkedby

unpredictabilityingeopoliticalrivalry,tariffs,inflation,interestrates,cybersecurityandfinancialmarket

valuations.Geopoliticaldisruptionisshapingcapital

allocationdecisions.Tradebarriersareaffectingtheviabilityofcross-bordertransactions,includingM&Aandinfluencingassetmanagers’geographicplanning.Sustainabilityagendasarebecomingfraughtand

fragmented;firmsfaceacomplexchallengeto

reshapeeconomicandenergysystemsdespite

growingsystemicandpoliticalheadwinds.Theabilitytoadapttochangingassumptionsandnewrealitiesiskey.

.Interconnected:Factorsasvariedasmigration,AI,

urbanization,femaleempowerment,cryptocurrenciesorclimatechangeareinteractingmorepowerfully,

withseeminglyunconnectedeventstriggering

cascadesofunforeseendownstreamimpacts.Tectonicsocialtrendsareinformingproduct,serviceandtalentplanningacrossassetmanagement.

Assetmanagementleadersrarelyhavetheluxuryto

spendtimeaskinghowtheywouldcompeteinaradicallydifferentfuture.Evenso,preparingforthefuture

dependsonunderstandingthatitmaydifferwildlyfromcurrentexpectations.

Bytheendofthisdecade,assetmanagerscouldbefacinganyoneofamultitudeofradicallydifferent

butplausiblefutures.Tostayflexible,firmsshouldmaparangeofscenariosandplanbackward,askingthemselves:

.Howmightthisscenariocomeabout?

.Howwouldwepredictordetectit?

.Whatwouldbetheimpactonusandthewiderindustry?

.Howwouldwerespond?

.Whatsuccessfulrolecouldweplayinthisscenario?

.Howcouldweprepareorplanforthisscenario?

Someofthesescenariosmightseementirelyoutofreach,whileothersmayseemclosetoreality.Whiletheymightseemimprobable,thethoughtjourneyofpreparingforthesewillunderlinefutureresilience.

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Howwouldyourespondif…

1.AI-nativeassetmanagersemerge,

leveraging“superfluidenterprise”models

Newfirmsemerge,runentirelybyAI—frominvestmentdecisionstoclientservicing—withminimalhuman

involvement.TheseAI-nativemanagersoutperform

traditionalfirmsthroughspeed,scale,precisionand

marketforesight.Theyoffermoreresilientanddynamicportfolios,fasterexecutionandsettlementcycles,

andgreatercostefficiencies.Autonomoussystems

usingagenticAIhandleroutineexecution,whilehuman

leadersfocusonstrategicdirection,ethicalboundaries

andecosystemrelationships.AI-nativeassetmanagers

emergebothindependentlyandwiththebackingof

existingwealthmanagers,givingthosefirmsaheadstartondistribution.

Algorithm-ledrobo-advisorymodelsandAI-led

investmentbankssuchasOffDealprovidethetemplateforwhat’spossible.WealthmanagersuseAItodevelop

assetmanagementcapabilitiesandstrengthenvertical

integration.Theconvergenceofemergingtechnologies—agenticAI,quantumcomputing,blockchain-enabled

smartcontractsanddecentralizedautonomous

organizations(DAOs)—

eliminatetraditionalbarriersand

organizationalfriction.

Questionstoasknow:

.DowehaveamasterAIplanto“handover”partsofthevaluechainandrethinkhowtodothingsinanAI-enabledwaywhilemanagingrisks?

.DowehavetheskillsandAIfluencyweneedacrossfunctionstopowertheinstitutionoftomorrow?

2.Universaltokenizationoffundsbecomesthenorm,revolutionizingdistribution

Allassetclassesaretokenized,allowingfractional

ownership,24/7tradingandseamlesscross-border

access.Reportingisautomated,andvaluetransfersareexecutedviasmartcontracts.Privatemarketsasset

classesarefurtherdemocratized,broadeningaccess

toawidervarietyofinvestors.Stablecoinsgenerate

yieldsandareusedforsettlement,bridgingthegap

betweentraditionalfinance(TradFi)anddecentralized

finance(DeFi).Investmentintermediationisentirely

digitized,with24/7tradingandreal-timesettlement

cycles,withassetmanagersfocusedonalphagenerationandprovidingtailoredinsightstoinvestorsand

intermediaries.

Thetake-upoftokenizationispoweredbytheallureofinstantsettlement,liquidityandfractionalownership.

Institutionsandwealthyindividualsusetokenizedassetsinareaslikerealestateandcommodities.Legaland

regulatoryguidanceclarifiesthecustody,taxtreatmentandusageofdigitalassetsandstablecoins.Investors

acrosswealthlevelsstarttoembraceparticipationincryptomarketsthroughgreaterawarenessandunderstanding.

Questionstoasknow:

.Isourcurrenttechnologyarchitectureblockchain

readyandwhatwouldtheimpactbeonouroperatingmodel?

.Whatdigitalassetsofferingsdowehave,howdowewanttodevelopourtokenizationcapabilities,and

whatadvantageswillfirst-movershave?

.Whatpartnersdowerequirenowtostartthejourneyandfinddifferentiationinmeetingthefutureof

universaltokenizationoffunds?

3.Over-politicizationleadstoinefficient

markets,deglobalizationandpolarizedinvesting

Politicalandgeo-economicmeddlingcausesacollapseof

freemarketdynamics,broadshiftsinreservecurrenciesandthepolarizationofinvestmentchoices—upendingcurrent

investingdynamics.Assetmanagersfindlong-termplanningandinnovationimpossible.Governmentsdictatecapital

allocationsviaanationalisticinvestmentfocus.Globalassetmanagersretreatfromkeygeographiestofocusonhome

markets.Globalpaymentsystemsbecomefragmentedintogeopoliticalblocs,andcyberthreatsincreaseaspolitical

rivalriesplayoutinthedigitaldomain.

Enablersofthisscenarioincludegeopolitical

andgeo-

economicinterventionsthatfragmentglobalinvestment

flows,limitingcross-borderinvestmentinkeymarketsandsectors.Regulatorycompetitionincreases,addingtothe

complexityanderectingcompliancebarriers.Investmentfirmsswitchtoreshoring,near-shoringandfriend-shoring,complicatingsupplychains.Talentdynamicsandinvestorchoicesaredisruptedbypoliticalactivity.

Questionstoasknow:

.Howrobustisourmodelingofgeopoliticaloutcomesinourscenarioplanning,aswellasourmappingofthreatexposuretohighdependencyareas?

.Howarewefocusingondigitalsovereigntyand

strengtheningourcyberresilienceasouroperatingmodelsandthird-partypartnershipsevolve?

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4.Wealth-as-a-Servicebecomesthenormviabigtechintegration

Technologygiantsortrustedconsumerbrandsenter

assetmanagementthroughstrategicpartnerships

withestablishedfirms.Theyofferinvestmentservices

bundledwithlifestyleproducts,integratinginvestmentintodailylife.Productsandservicesaretailored

tochangingclientneedsinrealtime,digitalclient

interactionsaretransformedandmanualadministrativeprocessesarestreamlined.Revenuemodelschange

completelyasassetmanagerslosetheirdistinctivebrandingandslotintotheBigTechenvironment.

Enablersofthisscenarioincludetheabilityofembeddedfinance(EmFi)torevampcustomeracquisitionand

distributionmodels.Wealth-as-a-Service(WaaS)gains

furthertraction,scalingwealthmanagementofferings

exponentially.Super-appsexpandtheirreachoutside

Asia,providinginvestmentservicesalongsidepeer-to-

peerpayments,ride-hailingandfooddelivery—engagingbillionsofusersandgatheringinvaluabledata.

Questionstoasknow:

.Whatcompetitiveedgedooutsideentrantsholdthatweshouldbepreparedtochallenge?

.Whatopportunitiesforstrategicpartnershipscanwealreadyexploreproactively?

5.Globalregulatorsrelaxtheirviewarounddemocratizingprivatemarkets,givingfullretailaccess

Allinvestorshavedirectaccesstoprivateassets

traditionallyrestrictedtoinstitutionsandultra-high-networthindividuals(UHNWIs).Democratizationcreatesa

moreinclusiveinvestmentlandscape,withsecondary

marketmechanismsdrivingconvergencebetweenpublicandprivatemarkets.Semiliquidproductwrappersand

tokenizedprivateassetsarecommonplace.Defined

contribution(DC)retirementpotsaretransformed

asretailinvestorsincorporatealternativesintolong-termsavings.Digitalplatformssimplifyonboarding,

offeringprivatemarketproductsalongsidetraditionalinvestments.

Thisscenarioismadepossiblebyregulatorslifting

barriers,relaxingaccreditationnormsandencouragingretailinvestorparticipation.TheinclusionofalternativeassetsintoUSinvestors’401(k)retirementplansleadsothercountriestofollowsuit.Productinnovation

enablesinvestoruptakethroughintervalfundsinthe

US,theUK’sLongTermAssetFund(LTAF),theEU’s

revisedEuropeanLongTermInvestmentFund(ELTIF),HongKong’slistedclosed-endedalternativeasset

fundsandothervehiclesevolvetoprovideaccessibility.Tokenizationofprivateassetsprovidesafurtherboost.

Questionstoasknow:

.Howcanwemanageincreasingrisksforclientsandmeetcompliancedemandswhileenhancingproductaccess?

.Doourclientsandouradvisorshavetheeducation

theyneedtounderstandtheevolvingprivatemarketsproductsandtheirrelatedrisks?

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6.Seamlessplatformintegrationandopenarchitecturebecomethenewstatusquo

Assetmanagersenactfullydigitalworkflows.Seamless,end-to-enddataflowsbetweenplatformsenablereal-

timereportingandinteroperability.Simultaneously,

openarchitectureallowsintegrationwiththird-party

tools,FinTechsolutionsandemergingtechnologies—

creatingaunifiedecosystemdefinedbyfrictionless

APIconnectivity.Regulatoryreportingisautomated,

immediateandfullytransparent.Firmsshareclient

prospectingandacquisitioncosts,butdemonstrating

differentiationandvaluecreationtoinvestorsbecomesmorechallenging.

Secure,real-timedataexchangebetweenlegacyand

modernsystemsisenabledbyrobustAPIframeworks,

openinfrastructure,advancedautomationandAI.This

allowsforcompletescalabilityandflexibility,withnew

servicesdevelopedviaplug-and-playintegrationwith

thirdparties.ComplianceburdensarealleviatedbyusingAI-poweredtoolsforreal-timemonitoring,predictiveriskdetectionanddynamicKYCandAMLchecks.

Questionstoasknow:

.Whatdoesourtechnologyanddataarchitecturelooklikenow,andhowAPI-readyarewetooperateina

potentialplug-and-play,modularfuture?

.Howdigitallyenabledandholisticisourregulatoryandriskmanagementcapability,andwherearewestilllagging?

7.Sustainabilityimpactbecomesthekeydifferentiator,with“planet-profit-people”

alignmenttakingcenterstage

Themonetizationofclimate,natureandenergy

transformsthesustainabilityagenda,creatingeffectivemarketsforcarbonandbiodiversitycredits.Anability

tointegratethemanagementofenvironmentaland

socialeffectsintoassetmanagementbecomesthe

leadingsourceofdifferentiation.Firmsaligninvestors’

portfolioswiththeirvaluesandglobalsustainability

agendas.Climateactionisincorporatedintoexecutive

compensationmetricsasstandard.Environmental,socialandgovernance(ESG)dataavailabilityandintegration

improvesignificantly.

Despitefragmentationinthe2020s,theglobal

sustainabilityagendagainsmomentum.AssetmanagersleveragetheirESGexperiencefromEMEAandAsia-

Pacificintootherregions,adoptingpurpose-driven

strategiesanddevelopinginvestmentthemessuchas

diversity,transitioninvesting,biodiversityandtheblueeconomy.Investorsandemployeesaredrawntofirms

thatdemonstrateleadershipinenvironmentalandsocialimpact.

Questionstoasknow:

.AreweconsideringESGfactorsandimpactofour

productofferingstoday,andareweinapositionto

pivottoofferinvestorssustainablyaligned,diversifiedanduncorrelatedreturns?

.Areweontrackforoursustainabilitytargets,anddowehavetherightKPIsinplacethatalignwithouroverallcompanyvisionamidglobalregulatoryfragmentation?

Wherewearenow:

differentiationinassetmanagementremainselusive

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The2020shavebeendefinedbyinstabilityand

volatilityandthisparadigmshowsnosignofabating.

Theoperatingenvironmentisputtingassetmanagers

underparadoxicalpressures:toaccelerategrowthwhilecuttingcosts;toinnovatewhileprovidingreassurance;

andtodiversifyproductchoicewhilecuttingfees.Even

though2025beganwithstrongerinvestorsentimentandpositivenetinflows,thisremainsahostilehabitatforanindustrydesignedtopreserveandgrowcapital.

2.1.Thetusslebetweengrowthandprofitability

Despitecost-reductionefforts,includingheadcount

reduction,automationandoutsourcing,assetmanagersareexperiencingpersistentcostinflation.

Regulationisonekeydriver.Tougherstandardsfor

transparency,resilienceandinvestorprotectionrequirefirmstospendmoreonpeopleandtechnology.Growingcross-borderdivergenceonkeytopicslikesustainabilityandthetreatmentofdigitalassetsispushingupcosts

andcomplexitytoo.Firmsarealsounderpressure

tomanageemergingriskssuchascyberthreatsandgeopoliticalconflicts.

Investorexpectationsareanothermajordriverof

expenses.Ononehand,retailinvestors—includingbutnotlimitedtoGenZ—aredemandinggrowingchoice

andcustomization;ontheother,institutionalinvestors

areseekingenhancedclientexperiencealongsiderobustperformance.Keyexpectationsinclude:

Tomeetthesedemands,assetmanagersarespendingmoreonreplacinglegacytechnology,AItools(thoughmanyoftheseinvestmentsaremerelydefensiveandtacticalratherthanstrategic),collaborationsand

specialisttalent.

Assetmanagementrevenuesarealsounderpressure.Ouranalysisoftheworld’s38largestassetmanagersshowsthatwhileassetsundermanagement(AUM)

increasedforfirmsatacompoundannualgrowthrate(CAGR)ofalmost5%between2020and2024,this

figureconcealstheimpactofsoaringvaluationsamongahandfulofUStechstocks.RevenuegrewbyaCAGRof4.6%duringthesameperiod,reboundingstrongly

in2024afterafewmutedyears,butfailedtooutpacecosts,resultinginthinoperatingmargins.

.Afullrangeofassetclassesincludingprivateequity,privatecredit,infrastructure,realestateanddigitalassets

.Accesstoarangeofcoreexposuresvialow-cost,liquidETFs—bothpassiveandactive

.Theabilitytoimplementsustainableandimpact

investing,especiallyinEMEAandAsia-Pacificregions

.Customizeddigitalexperiencesthatalignportfolioswithindividualinvestors’goals,valuesandrisk

appetites

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+14%

-13%+14%+11%

60

54

55

48

48

20202021202220232024

AssetmanagementAUM(US$t)

+5pp

37%

32%

31%

32%

27%

20202021202220232024

+41%-19%

178

+14%

,

161

-2%

144

141

126

20202021202220232024

Assetmanagementrevenue(US$b)

NorthAmerica-headquarteredfirmsledthewayintheindustry’sexpansionofAUM.DespiterapidAUMgrowthinhigher-marginalternativeassets(upby22.4%in

2024),firmsexperiencedunderlyingfeepressurefromtheongoingshiftofequityandfixed-incomeassets

(whichform77%ofglobalAUM)intoexchange-tradedfunds(ETFs),indextrackersandotherlow-costoptions.

Dataforthewiderindustry—considering500asset

managersglobally—showsthatAUMgrewtoaglobal

totalofUS$140tin20241,butoperatingmarginsfor

manyfirmsareeitherflatliningordeclining.While

industryAUMisexpectedtokeepexpandingatpace,

reachingUS$209tby2030accordingtoEYforecasts

growingataCAGRof7%inanoptimisticscenario,thereisnoguaranteeofcorrelatedprofitability.

+4pp

-5pp

-5pp

AssetmanagementOp.Margin(%)

¹World’slargestassetmanagers’AUMsurgestorecord$140trillion,drivenbyNorthAmericaandpassives,ThinkingAheadInstitute

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2.2.Risingscale,blurringboundaries—andincreasingpolarization

Thecompetitivelandscapeofassetmanagementis

definedbygrowingpolarizationbetweenahandfulof

giantfirmsandalong,fragmentedtail.Everymarket

hasitsshareofsuccessfulspecialists,butit’simpossibletooverlookthegrowth—organicandinorganic—and

sizeofthemostdominantfirms.AccordingtodatafromThinkingAheadInstitute,thetop20assetmanagers

globallycontrolled47%oftotalAUMin2024,upfrom45.5%in2023.²

Outsizedscalebringsoutsizedrewards.Allelsebeing

equal,thebiggestfirmsineachmarketcapturethebulkofinflows,generatethegreatesteconomiesofscaleandenjoythelargesttechnologybudgets.Sizecorrelates

withreturnonassets(RoA)andreturnonequity(RoE),reinforcingpressureontherestoftheindustry.

Competitivepressuresarealsoreceivingaboostfromtheblurringofindustryboundaries.M&Aisbecomingavitallevernotonlyforgainingscaleoracquiringnewcapabilitiesbutforopeningnewstrategicavenues,

creatingnewsynergiesandbuildingwinningmarketpositions.

Asaresult,strategicpartnershipsandintegration

amongfirmtypesandbusinessmodelsaregrowing,withfar-reachingeffectsonthestructureandcompetitive

dynamicsofassetmanagement.Forexample:

.Insurersandassetmanagersarejoiningforcesto

createmega-firmswithenhancedinvestmentpoolsandcapabilities.

.Alignmentbetweentraditionalandalternative

assetmanagersisgrowing,withprivateequity(PE)houseslookingforperpetualcapital,andincreasingconvergencebetweenpublicandprivateassets.

.Firmsabletoleanintothecollectivestrengthofwealthandassetmanagementdivisionsaretakingamore

holisticapproachtovaluecreation.

.Assetmanagersareincreasinglypartneringwith

andleveragingFinTechcompaniesandtechnologyplatformstodistributeproductsandenhancedigitalwealthsolutions.

Thesestrategicinitiativesarenotonlyerodingindustrysilos.Byblendingpublicandprivateassets,combining

manufacturinganddistributionandmixingalphawith

beta,theyarecreatingentirelynewvaluedrivers.A

widerrangeofbusinessmodels—includingcaptive

models,multi-boutiquesandjointventures—aregainingtraction,andgrowingnumbersofsmallandmedium

firmsarecomingunderacutepressuretorethinktheirentireproposition.

Whilescaleremainsimportant,itisnolongeraleadingdriverofsuccess.Slowly,butsurely,assetmanagers

areshiftingtheirfocusfromamassingAUMto

improvingprofitabilityandcultivatingadistinctuniquesellingproposition(USP)togainacompetitiveedge.

Increasinglycleardividinglinesarealsoappearing

betweenthosefirmsthatareactivelyadaptingto

changesandchallengesandthosethatareunableorunwillingtomovedecisivelytowardadifferentfuture.

Thekeyquestionmanyfirmsaretryingtoansweris:

Whatwillgivemyfirman“unfairadvantage”ora“righttowin?”Often,theanswerisunclear.Differentiation

remainselusive.

²World’slargestassetmanagers’AUMsurgestorecord$140trillion,drivenbyNorthAmericaandpassives,ThinkingAheadInstitute

Wherewe’regoingnext:

blueprintsforfuturesuccess

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Pillarsforthefuture:

buildingblocksofsuccess

FutureofproductsanddistributionProductinnovationandevolvingdistributionstrategieswillbe

keytostandingout.Tokenization,privatemarketsassetclassesandthematicinvestmentswillunlocknewgrowthpaths.

Futureofoperatingmodels

Firmswillneedmorethancost-cutting.Thegoalisscalable,leanoperationsthatusemanagedservices,smarterlocationand

talentstrategies,andstrongpartnershipstostayfuture-ready.

Futureoftechnology

Next-generationtechnologyinfrastructureswillputAIattheforefrontofvaluecreation.Thesedigitallyled,data-driven

systemswilldeliverspeed,transparency,efficiencyandregulatoryconfidenceforassetmanagers.

Futureoftalent

Futureworkforceswillbespecialized,AI-fluentandadaptive.

Assetmanagerswillattractnewtalent,drivefirmwidere-skillingandempowerment,andredefinerolescriticaltogrowthand

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revenue.

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Whenaskedabouttheirgreateststrategicpriorities,over80%oftheCFOsinterviewedforourresearch

consistentlypointtothreefundamentalgoals:

.Growth:includingvianewmarkets,geographiesanddistributionchannels

.Efficiency:includingcostreduction,processredesignandworkforcesimplification

.Technologyenablement:includingautomation,digitalization,dataandtheuseofAI

Thereiswidespreadagreementonkeyareasofconcern,includingcostinflation,regulatorypressuresand

operationalrisks.

Leaders’predictionsforthefuturerevealastrong

consensusondesirablefirmcharacteristicssuchas

scale,flexibility,efficiencyandtechenablementthat

willprovidethefoundationforfuturesuccess.Yet

it’sstrikingthatrelativelyfewleaderssetoutatruly

distinctivevisionforhowtoconnectthosebuilding

blocks.Thisrevealsagrowingdistinctionb