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Securing profitable growth in tomorrow’s asset management industry
Explore the root causes and necessary elements of effectively transforming today’s asset managers into tomorrow’s market leaders—growing valuable franchises that attract clients and shareholders.
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After several years of benign capital markets fueled by a secular reduction of interest rates worldwide—culminating in post-crisis quantitative easing—the asset management industry faces a new, and more challenging, future. New customer needs and market structures will force asset managers to adapt their value propositions and business models in order to remain vibrant and valuable.
Those who cannot—and in an oversupplied marketplace, there are many such firms—likely will peak in terms of franchise value and steadily, if slowly, shrink in terms of size, profitability, and influence. Questions regarding this industry-wide transition no longer focus on why or when, but how: What new competitive advantages are required to win, and what is the best way for complex asset management firms to fund and execute these difficult transitions?
This white paper explores the root causes and necessary elements of effectively transforming today’s asset managers into tomorrow’s market leaders: growing valuable franchises that attract clients and shareholders. There are four primary conclusions:
Data cited in this paper and its exhibits, unless otherwise indicated, comes from Casey Quirk’s annual Performance Intelligence financial benchmarking survey of asset managers throughout the United States and Europe, jointly conducted with compensation consultants at McLagan, a unit of Aon.
Profitable growth has become the primary driver of an asset manager’s franchise value but it remains elusive