Four trends for asset managers to watch in 2021
We all expected significant changes for the asset and wealth management sector in 2020, but few could predict the enormous impact of the global pandemic and the reverberating economic distress. Certainly, nobody expected to see a freefall that would land us in bear market territory in just 19 trading days. For many firms, the notion of telecommuting went from an evolving model to a concrete reality overnight. All this while firms were already facing stiffening headwinds from slowing AUM growth, a move to passive investments and declining fees. As we look ahead, here are four trends that we’re watching and some thoughts on how to respond.