Wealth and asset management firms are brimming with confidence as they look forward to the new year, according to new research from Wipfli, an advisory and accounting firm.
That’s not say there aren’t caveats. Firms find themselves grappling with accelerating technological demands, evolving compliance requirements and talent pressures as they strive to advance digital maturity and maintain competitive advantage.
Better Benefits, More Tech
Wipfli polled wealth management executives to understand their economic outlook for 2026, what their strategic priorities are and top challenges they foresee.
Nine in 10 wealth managers said they expect revenue growth of 5% or more in the next 12 months. Seventy-two percent said they will seek to improve recruitment and retention by increasing benefits and perks.
Eighty-nine percent of executives reported that their firm uses AI and data analytics to support decision making, yet few have achieved enterprise-level maturity.
Cybersecurity and data privacy are wealth managers’ top concerns, reshaping how their firms operate. They also cited barriers to implementing data analytics effectively, including data quality and integration challenges.
“Firms are optimistic, but they’re also managing more moving parts than ever before,” Anna Kooi, Wipfli’s financial services practice leader, said in a statement. “Success depends on how well leaders can prioritize and execute amid all that noise.”
Kooi noted that technology is no longer optional for wealth managers. “Tools that enhance client engagement and deepen relationships can be just as valuable as those that improve back-office efficiency,” she said.
Asset Management's Digital Transformation
Wipfli also surveyed asset management executives to gauge outlook and priorities. Ninety-two percent expect revenue growth of 5% or more in the next 12 months.
Eighty-one percent said they use AI and data analytics to support decision making, but only 34% said their firm has a comprehensive AI strategy. Sixty-nine percent reported that cybersecurity and data privacy measures are reshaping their firm’s operations.
Survey participants rated improving digital customer engagement, data analytics and automation as their top growth strategies, alongside expanding service capabilities. Yet data foundations remain a constraint, they said, with privacy, quality and integration issues slowing progress.
“Periods of disruption give investors a reason to look beyond index strategies,” Kooi said. “They want to see where managers can generate alpha — and technology is becoming the way to deliver that.”
But true digital maturity requires discipline, she said. “Asset managers that integrate digital capabilities into their core investment and operating models — not just around the edges — will be best positioned to compete in a volatile, opportunity-rich market.”
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