2022: A critical year for growth and transformation for asset and wealth managers
January 19 2022 - 11:34AM
Alpha FMC, the leading global management consultancy serving the
asset management industry, working with 17 of the top 20 global
asset managers by AUM, announced today it has published its Asset
& Wealth Management 2022 Outlook. As the world tentatively
emerges from the Covid-19 pandemic, the Outlook focuses on the key
roles within asset and wealth management firms and highlights some
of the priorities and challenges Alpha expects them to face in
2022.
Alpha has identified five major headwinds that these managers
will likely face this coming year, including macro-economic
factors, client demands, workforce changes, technology and data,
and the competitive landscape. Written by a selection of Alpha’s
650+ global experts, the Outlook challenges firms to identify the
right priorities and provides guidance on how they can best execute
on those priorities in 2022.
“2022 will be a year where asset and wealth managers continue
significant programs of change and transformation across their
business,” said Joe Morant, Chief Executive Officer of Alpha FMC in
North America. “Across the board, the industry face numerous
challenges that could make 2022 difficult if not acted upon in the
near team. The continued influence of the pandemic, inflation
concerns and political instability all add to client demands which
impact investor confidence, asset allocation decisions and margins.
The asset and wealth managers who overcome these obstacles and
execute flawlessly will seize the opportunities and find themselves
ahead of the pack – well positioned to find success in the near-
and long-term.”
Alpha’s 2022 Outlook focuses on the personas with whom Alpha
works with daily, identifying key challenges each role will face
while also providing clear guidance on how each can find success
this year, for example:
Asset Management Personas:
- Chief Executive Officer: In order to take
advantage of new opportunities, CEOs need to establish a leadership
model that sets clear strategic priorities and explains what this
means for each function. They should also clearly articulate the
firm’s place in the future ESG market landscape to meet growing
client and regulatory expectations, but be cognizant of
“greenwashing”. Of course, on every CEO’s mind will be the growing
trend of M&A and industry consolidation and ensuring that firms
on both sides of the consolidation trend are well positioned.
- Chief Investment Officer: While CIOs are
focused on performance, we expect to see greater collaboration
between Investments, Product and Distribution to design and deliver
the right asset class and solutions mix to attract and retain
strategic clients. We also expect demand for more technology
support – both to the traditional investments tool kit as well as
modern experimental technologies such as alternative datasets, NLP,
ML and automation.
- Chief Data Officer:
As CDOs come under pressure to demonstrate an ROI on data
investment, we expect them to refocus on a generation of ‘data
insights’ and innovation. This could be materialized by reducing
market data costs, supporting simplification of the overall
architecture/operating model, embedding ESG/RI data across the
enterprise, and driving consistency across public and private
markets.
- Head of
Distribution: On the sales side, distribution heads will
continue to redefine their coverage models to target, engage and
retain clients in the “new-normal”, especially continuing to evolve
the traditional “internal / external sales” model in the U.S. to a
more hybrid, digital world. In client service, continued
scalability will be key – especially of increasingly complex
servicing requirements and requests from key clients, set around a
well-defined servicing and segmentation model. In marketing,
enhanced connectivity with sales and service will be essential, and
marketing may well pick up more direct ownership of client
engagements across the lifecycle. Brand will also become a more
important differentiator. All this will be enabled by enhancements
to distribution intelligence, data and analytics.
Wealth Management Personas:
- Chief Executive
Officer: We expect CEOs to be concerned with strengthening
the competitive positioning of their organizations due to an
evolving client base with changing needs while keeping the costs in
check. They will look to enhance and differentiate their value
proposition, focusing on areas such as investment solutions (e.g.,
coherent mandate offerings), investments (e.g., ESG, private
markets) and channels (e.g., multichannel).
- Chief Operating
Officer: 2022 will be about convergence. COOs have a
mission to create global platforms through unified operating
models, requiring strong vision and governance to align booking
centers on “how we work” with the ambition to drive synergies and
reduce operational risk. COOs will need to critically evaluate the
heart of their technology to implement a consistent stack with a
unique set of applications, resulting in IT-debt catch-up and data
progression.
To read the full Asset and Wealth Management 2022 Outlook,
including information on all 11 asset management personas and all
three wealth management personas, click here or visit
www.alphafmc.com for more information.
About Alpha FMCAlpha FMC partners with today’s
leading asset and wealth managers to think smarter and shape their
businesses for the future. The Alpha team works with 95 percent of
the top 20 global asset managers by AUM and is comprised of
more than 650 global consultants working across five continents and
more than 25 countries. Alpha shapes the industry by delivering
expert knowledge and advice in critical business areas such as new
generation operating models, digital transformation and new
regulation management.
Visit www.alphafmc.com for more information.
Media Contact: Kris
Pfeifferkpfeiffer@wearecsg.com 303.880.0371
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