“Survey respondents clearly understand that leveraging technology is essential for success in today’s competitive landscape,” said Wipfli Partner Ronald Niemaszyk. “Tools like automation, AI and digital applications are already improving efficiency and effectiveness, and leaders want to ensure they are fully capitalizing on these advancements.”
The survey also explored leaders’ views on succession planning. A majority of respondents (56%) cited rapid technological innovation as a key factor driving potential ownership changes. While most executives expressed a preference for internal transitions — such as transferring ownership to employees, shareholders or family members — Rusty Planert, CPA, a manager with Wipfli’s financial services group, pointed out that external sales are far more prevalent in practice.
“This finding highlights an opportunity for executives to plan ahead if they’re aiming for an internal succession,” Planert said. “By starting the conversation early, they can better position their firms for a transition that aligns with their vision.”
Technology is transforming asset management practices. Over 50% of survey respondents reported that tools like data analytics, digital applications and automation are having a significant impact on their operations.
AI adoption remains in the exploratory phase. Our survey shows that most asset management executives are still evaluating AI for business use, with few respondents running active pilot projects.
56% foresee tech driving future ownership changes. Rapid technological advancements are expected to influence firm ownership transitions, and respondents expressed a strong preference for internal succession plans over third-party sales.
Covered in the full report
This year’s report offers a full analysis of the asset management industry’s key priorities, challenges and opportunities:
- Growth expectations remain high: Industry leaders are optimistic about 2025, with 92% forecasting revenue growth of 5% or more, 57% anticipating growth in the 5% to 8% range, 25% expecting growth between 8% and 10%, and 10% projecting growth exceeding 10%.
- Cybersecurity and technology top the agenda: The primary concerns for executives in 2025 include addressing customer needs, strengthening cybersecurity and adopting the right tech tools.
- Technology as a growth driver: Respondents identified several tools as having a highly significant impact on their daily operations, including data analytics, digital platforms and applications, automation, cybersecurity and data privacy measures, and AI-powered marketing tools.
- Looking to the future: Wipfli’s consultants offer commentary on the survey findings, emphasizing the importance of thoughtful succession planning in an era of rapid technological progress. Leaders are encouraged to consider strategies that align with both immediate goals and long-term generational transitions.
- Dive into the details: The appendix features an extensive breakdown of survey responses, offering a deeper look at the asset management industry’s evolving priorities and challenges. Use these insights to identify trends and refine your strategies.
Access the full report for a deeper analysis and a detailed breakdown of all the data. For media inquiries, contact Alicia O’Connell at alicia.oconnell@wipfli.com.
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