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Wealth and Asset Management 2022: The Path to Digital Leadership

As firms rush to embrace digital innovation, first-movers gain performance benefits while others pay a steep penalty for lagging behind.

Executive Summary

The convergence of digitalization, globalization and consumerization will reshape the investment industry, according to a new report of global wealth and asset management firms published by Roubini ThoughtLab, a leading global research firm. Financial leaders now recognize that investors throughout the world — and across generations and wealth levels — want to manage their money in the same way they now shop, communicate and learn: using a range of digital tools, social media and mobile apps. For most industry executives, the question is no longer whether the industry will go through a digital metamorphosis, but how they can ensure they are not left behind.

With the industry facing high-velocity change, investment providers must act now to embrace digital innovation. Firms that have already reached an advanced digital stage report an 8.6% increase in revenue, an 11.3% rise in productivity and a 6.3% improvement in market share. Those that move too slowly stand to lose $79 million per billion dollars of revenue a year—and risk falling out of the race altogether.

To ensure a balanced cross-industry perspective, the research was conducted in conjunction with a diverse coalition of sponsors, including Broadridge Financial Solutions, Appway, Cisco, eToro, J.P. Morgan Asset Management, Oracle, Protiviti, Sapient and Vauban Cyber Technologies.

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