The constant refrain remains that the Asset Management industry is facing huge challenges some of which involve wholesale structural change. Whilst there are clearly a number of systemic changes the industry will have to see through to remain relevant and profitable, the fact remains the industry is only going to become more important as demographics and global growth spur onwards.
As the world's population starts to live longer, there's one industry set to capitalize on retirement plans. The asset and wealth management sector is set to reach $145.4 trillion in assets under management by 2025 as governments step back from helping people saving for retirement, a report by PricewaterhouseCoopers (PwC) showed Monday. Global assets under management reached $84.9 trillion in 2016 and will therefore almost double to hit $145.4 trillion in 2025, the latest Asset and Wealth Management Revolution report showed. This means the industry will see assets growing at a pace of 6.2 percent a year, with stronger performances in Latin America and Asia-Pacific.