The results are in on PwC’s 20th CEO survey of the asset and wealth management industry the future looks bright for the sector. Survey results were recently published in a report, Asset & Wealth Management: a new era of growth, disruption and opportunity.
Big four auditor PwC (PricewaterhouseCoopers) has published key findings from its 20th CEO survey of the asset & wealth management sector in a new report entitled, Asset & Wealth Management: a new era of growth, disruption and opportunity. Nearly 200 CEOs from 45 countries around the globe participated in the survey, with 92% of surveyed CEOs reporting that they feel either confident, or very confident about expected 2017 revenue growth.
PwC’s annual CEO Survey arrives at a moment in which technology and globalisation have become powerful forces of change. Findings reveal an asset & wealth management (AWM) industry that’s set for growth, but that is likewise uneasy about reconciling the opportunities and challenges these forces will bring. The CEO interviews highlighted in this PwC report showed that many larger firms have fixed their eyes firmly on the future. That being said, results also indicated that many AWM firms are planning to continue doing business as usual. This contrast may be attributable to the sector’s higher proportion of small firms. Despite this, the sector seems to be slow to innovate and adapt.
A few notable figures from the report included: 65% of AWM CEOs stating that they believe technology is reshaping or significantly impacting competition, and 68% reporting recent changes in strategy to reflect expected future needs. In order to offer a comprehensive overview of the results of its 20th CEO survey, PwC has outlined its findings in six key sections, which are mentioned below.
- Anticipating opportunities for growth
- Looking for different people
- How to foster trust?
- The tensions of globalisation
- Complacent about technology?
- Prepare for rapid change
To see the detailed results of the 20th CEO Survey, read or download a PDF copy of the PwC report ‘Asset & Wealth Management: a new era of growth, disruption and opportunity’, by clicking here.