A new survey from advisory and accounting firm Wipfli LLP reveals that a significant 56% of asset management executives believe technology is a key driver of ownership changes within the industry. The survey, which polled 134 industry leaders across the United States, highlights the growing importance of technology in shaping the future of asset management firms.

While executives are optimistic about revenue growth in 2025, with 92% anticipating at least 5% growth, there’s a clear emphasis on strategic technology investments. Firms are recognizing that adopting and leveraging new technologies is crucial for maintaining a competitive edge and driving efficiency. Tools like automation, AI, and digital applications are already improving operations, and leaders are focused on capitalizing on these advancements.

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The report also delved into succession planning, revealing a potential disconnect between desired outcomes and actual practices. While 82% of executives expressed a preference for internal transitions, such as passing ownership to employees, shareholders, or family members, external sales are more common. This discrepancy underscores the importance of proactive succession planning that aligns with long-term goals.

Technology is rapidly transforming asset management practices. Respondents reported that data analytics, digital applications, automation, and AI are having a significant impact on their operations. However, AI adoption is still in its early stages, with only 18% of respondents running active AI pilot projects. The majority of asset management executives are in the evaluation phase, taking a cautious but forward-looking approach to integrating AI into their businesses.

Cybersecurity remains a top concern for asset management firms. The survey highlights the need for robust security measures to protect sensitive data and maintain client trust. As technology becomes more integral to operations, the risk of cyberattacks also increases, making cybersecurity a critical investment area.

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FAQs

1. What is the main focus of the Wipfli asset management survey?

The survey examines the current challenges and future strategies shaping the asset management industry, with a particular emphasis on the role of technology in driving growth, addressing cybersecurity concerns, and influencing ownership transitions.

2. What percentage of asset management leaders expect revenue growth in 2025?

92% of asset management leaders expect their firms to achieve at least 5% revenue growth in 2025.

3. What was the primary preference for succession planning among the executives surveyed?

While 82% of executives favor internal transitions, external sales are more prevalent, highlighting the need for proactive succession planning aligned with long-term goals.

Conclusion

A Wipfli survey of 134 asset management leaders reveals technology’s pivotal role in the industry and provides valuable insights into the challenges and opportunities facing the asset management industry. While 92% anticipate revenue growth in 2025, 56% believe tech advancements will drive ownership changes. Firms are leveraging automation, AI, and digital tools to improve efficiency, but AI adoption is still nascent, with only 18% running pilot projects. Internal succession is favored, but external sales are more common, highlighting the need for proactive succession planning aligned with long-term goals. The survey underscores the importance of strategic technology investments, proactive succession planning, and a focus on cybersecurity to ensure long-term success.

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