PwC - Asset Management, 2023

The Asset and Wealth Management Revolution 2023 report is a comprehensive analysis of the challenges and opportunities facing the industry in the coming years. The report highlights several key takeaways that AWM leaders will need to consider in order to stay competitive and succeed in the rapidly evolving landscape. One of the main challenges facing the industry is the "pensions crisis," which is being driven by ageing populations and dwindling public pensions. AWM leaders will need to embrace a more public profile and focus on societal outcomes, such as accelerating the green transition, in order to address this challenge. The regulatory spotlight on investor outcomes is set to intensify, providing opportunities for improving and differentiating outcomes. The retail market offers vast and largely untapped opportunities for growth, particularly in high-net-worth and mass affluent segments. Private markets and shifts in investment allocation are driving demand for more differentiated products. AWM firms will need to leverage technology and data analytics to stay competitive. Geopolitical and economic factors, such as Brexit and the rise of China, are contributing to the changing industry landscape. Overall, the report suggests that AWM firms will need to adapt to changing investor expectations and market conditions in order to survive and thrive in the coming years.