How digital, social, and economic trends will transform the investment industry
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The pandemic has been a watershed event for the wealth industry, accelerating dramatic changes in investor attitudes, behaviors, and expectations. Our study reveals six key megatrends that will alter the course of the Industry: (1) a shift to digital interaction; (2) a growing desire to invest with purpose, (3) a wider demand for democratized products and services, (4) a requirement for higher integrity and standards, (5) an expectation for lower fees and pricing transparency, and (6) a greater willingness to switch providers if their needs are unmet.
These profound shifts have overturned conventional wisdom about investors. To succeed in this marketplace, wealth and asset management firms will need to shift from a product- to a customer-centric approach—focusing on the person, not the demographic. That will require reimagining their client segmentation and go-to-market strategies, as well as their range of products, services, and pricing models.
Latest Insights
Six Major Shifts Pushing the Wealth Industry to Change
The COVID-19 pandemic has been a watershed event for the wealth industry, accelerating dramatic changes in investor attitudes, behaviors, and expectations. A new study by ThoughtLab, Wealth and asset management 4.0: How digital social, and regulatory shifts will transform the industry, based on a survey of more than 2000 investors and 500 wealth industry executives worldwide, reveals six major investor trends that will transform the industry
The Pandemic Was a Watershed Event for Investors
The COVID-19 pandemic has reshaped investor views and how the wealth and asset management industry responds to these changes. To understand the shifting needs of investors around the world and how well wealth management providers are meeting those needs and expectations, ThoughtLab conducted a survey of 2,325 investors across wealth levels, age, gender, and geographic location. The program also surveyed 500 wealth and asset management providers globally.
Overcoming the Crisis: Future Trends in Wealth and Asset Management
New trends are pushing wealth and asset management firms into becoming digital-first businesses offering clients immersive digital experiences and real-time support, together with more personalized products and services. The industry will also rethink their environmental, social and corporate governance investments, pushing sustainability to the forefront of their priorities.
The Future of Wealth Management: Debunking Investor Myths
Wealth and Asset Management 4.0, the forthcoming study of 2,325 investors and 500 wealth management firms worldwide conducted by ThoughtLab, reveals that the pandemic has upended traditional ways of thinking about investors. To success in this new marketplace, wealth and asset management firms will need to revise their assumptions and take a more personalized approach to meeting investor product and service needs.
Wealth and Asset Management 4.0: Expert Views on Preparing for a New Era
The coronavirus pandemic has accelerated digital, social, economic, and demographic shifts across the world and across industries. Within the wealth and asset management industry, investor attitudes, needs, and expectations are undergoing lasting changes, and the playing field for investment providers is shifting. Investment providers will need to act quickly to compete.
This panel discussion examining the mega-trends disrupting the industry and the future of wealth and asset management.
This panel discussion examines the emerging technologies and investor priorities remaking the industry.
This panel discussion is on how wealth and asset management firms will need to rethink their products, services, and business models to meet the shifting needs of investors.
This webinar examines the megatrends disrupting the industry and the future of wealth and asset management.
"We are living through a period of disruption that will ultimately redefine the financial services industry. Not only has COVID accelerated digital transformation, but it has also heightened environmental concerns and awareness of social justice, equality, and inclusion."
-Melissa Cullen, Global Head of Strategy, Wealth and Retirement, FIS
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Relevant Thought Leadership Work
Wealth and Asset Management 4.0: How digital, social, and economic trends will transform the investment industry is the third program in a series of ground-breaking multi-client studies ThoughtLab has produced on the future of wealth management. The first two studies examined how shifts in digital technology and investor demographics have transformed the wealth management industry. Wealth 4.0 will build on this and other prior research by analyzing how the pandemic will accelerate trends and permanently change the wealth management industry.
Wealth and Asset Management 2021(opens in new tab)
Our 2016 study compared the views of investors and investment providers worldwide on the demographic, technology, and economic shifts transforming wealth management.
Wealth and Asset Management 2022(opens in new tab)
Our study, Wealth and Asset Management 2022, delved more deeply into the industry's digital revolution, looking at how the best practices of leaders give them an edge over laggards.
The Next Generation Wealth Advisor(opens in new tab)
This white paper produced by Thoughtab for Broadridge, explores how emerging technologies are transforming the role of the advisor.
Targeting the Digital Generation(opens in new tab)
This innovative report provides insights into how millennials are upending the wealth management industry, and what investment firms can do about it.
EY 2019 Global Wealth Management Report(opens in new tab)
This report was produced for EY and examines the service and pricing models that investors value most.
Women and Wealth: The case for a customized approach(opens in new tab)
ThoughtLab's research explores how wealth managers can better serve female investors, who currently feel unwelcome by the industry, but who may soon control the majority of U.S. household wealth.
Contact Us
Successful thought leadership is a team sport, requiring close collaboration and the right blend of analytical, editorial, and marketing skills. For more information on how you can join this in-depth research initiative, please contact us today.
Lou Celi
Chief Executive Officer
ThoughtLab
917.459.4614
louceli@thoughtlabgroup.com
Barry Rutizer
Corporate Director
ThoughtLab
917.251.4190
barryrutizer@thoughtlabgroup.com