Why Wealth and Asset Management Leaders Are Bullish on 2026—and What Could Break That Optimism

Confidence Is High—But So Is Complexity: Wealth and asset management executives are entering the next year with a distinctly optimistic stance on growth, even as their operating environment grows more complex. Across both segments, the overwhelming majority expect revenue to rise by at least 5 percent in the coming 12 months, and a meaningful share foresee gains of 8 percent or more.

This is not naïve exuberance. Firms are acutely aware of the challenges they face: rapidly evolving technology, mounting cybersecurity and privacy risks, regulatory demands, and a talent market that remains tight at both junior and senior levels. Yet, the survey evidence suggests that leaders believe they can turn disruption into advantage—if they invest thoughtfully in digital capabilities and people.

The central theme emerging from the research is clear: technology has become both the primary growth engine and one of the top risk vectors. Executives are being forced to balance offensive digital strategies with defensive cyber and data controls, all while maintaining the trust of increasingly sophisticated clients.

Wealth Management: Confident Growth, Rising Digital Demands

The survey of wealth management executives paints a picture of broad-based confidence. Nine in ten wealth managers expect revenue growth of 5 percent or more over the coming year, a strikingly bullish stance given macroeconomic uncertainty. A significant cohort is even more upbeat, anticipating revenue expansion of 8 percent or above.

Underneath that optimism lies a recognition that growth will not come from markets alone. Firms are leaning heavily on technology, client experience, and talent as the main levers of competitive advantage. Tools that once sat quietly in the back office are now central to how advisors originate, serve, and retain high-value relationships.

At the same time, wealth managers are increasingly candid about the constraints holding them back. They name cybersecurity and data privacy as their top concerns, reshaping not only IT budgets but also day-to-day operating models. The pressure is to be more digital without becoming more vulnerable, more data-driven without sacrificing trust.

Better Benefits, More Tech: How Wealth Firms Plan to Compete

To understand how wealth managers are positioning for this environment, the survey asked about both strategic priorities and operational responses.

On the talent front, 72 percent of wealth management respondents plan to improve recruitment and retention by increasing benefits and perks. That reflects persistent workforce pressure: firms are competing not only with each other, but also with technology platforms, fintechs, and adjacent industries for advisors, relationship managers, and next-generation leaders. Enhanced benefits are one way to stay in the game when compensation alone may not differentiate.

On the technology side, 89 percent of wealth management executives say their firms already use AI and data analytics to support decision-making. The tools are present, particularly in areas like client segmentation, portfolio analysis, risk assessment, and personalization of advice. However, very few firms report having achieved true enterprise-level AI maturity. The reality is that most are still in an “early to mid” phase—using AI tactically rather than as a fully integrated part of their operating model.

Cybersecurity and data privacy loom large. Executives identify them as the top operational concerns, and they acknowledge that data quality and integration issues continue to impede effective analytics. In practice, this means that while decision-support tools exist, their full potential is often constrained by fragmented data, legacy systems, and inconsistent governance.

The message is succinct: wealth firms know they must be digital, but they are still wrestling with the foundations.

Technology as Both Enabler and Obligation

The research underscores an important shift in mindset: technology is no longer a “nice-to-have” differentiator for wealth managers; it is an obligation. Digital tools that deepen client engagement—personalized reporting, interactive portals, seamless communication channels—are now viewed as strategically comparable to tools that optimize internal efficiency.

Executive commentary in the report captures this duality. Leaders emphasize that in a world of demanding HNW and UHNW clients, relationship depth is shaped as much by digital experience as by in-person advice. At the same time, the cost to serve, the ability to scale advice, and the capacity to manage risk all hinge on how well technology is deployed and governed.

Success, as one finding puts it, depends on how effectively leaders can prioritize and execute amid heightened noise. In other words, the winners will be those who do not chase every new tool, but instead align specific technologies with clearly defined growth and risk objectives.

Asset Management: Alpha, Disruption, and Digital Maturity

On the asset management side, the outlook is similarly upbeat. Ninety-two percent of asset management executives expect revenue growth of 5 percent or more in the next year, signaling strong confidence in client demand, product pipelines, and fee resilience.

However, this optimism is tempered by a candid appraisal of digital gaps. Eighty-one percent say they use AI and data analytics to support decision-making, but only about one-third report having a comprehensive AI strategy. In other words, the majority are using the tools tactically or experimentally, without a fully articulated roadmap for how AI should reshape research, risk, distribution, or operations.

Cybersecurity and data privacy again figure prominently, with roughly seven in ten asset managers indicating that these issues are actively reshaping how their firms operate. This is not an abstract concern; it affects everything from vendor choices and cloud migration to access controls and incident response protocols.

Disruption also plays directly into the commercial proposition. Periods of volatility and structural change give institutional and sophisticated investors a reason to look beyond passive index strategies. They want to see where asset managers can generate true alpha—and increasingly, technology is becoming the lens through which that question is answered.

Digital Customer Engagement and Data Analytics as Growth Engines

When asset managers are asked about their growth strategies, the answers cluster decisively around digital. Improving digital customer engagement, strengthening data analytics capabilities, and increasing automation all rank as top priorities, alongside expanding service offerings.

This emphasis reflects a recognition that distribution and servicing are undergoing a fundamental shift. Asset managers are being asked not just to deliver performance, but to deliver insight, access, and transparency through digital means. The quality of portals, reporting, and digital touchpoints is now part of the overall value proposition.

Yet, data foundations remain a constraining factor. Executives cite privacy, data quality, and integration challenges as key reasons progress has been slower than they would like. Without reliable, integrated data, even sophisticated models and front-end experiences struggle to deliver consistent value. And without clear privacy frameworks, innovation can collide with regulatory and reputational risk.

The takeaway is that digital maturity is not about having the most advanced tools, but about building the data and governance scaffolding that allows those tools to be trusted and scaled.

Enduring Optimism—and the Role of Firm Size

Across the combined respondent base, almost two-thirds (63 percent) expect revenue growth of 8 percent or more, representing a more bullish view than in previous survey cycles. This enduring optimism suggests that, despite macro volatility, leaders see sufficient structural demand drivers to support growth.

Executives at firms with larger assets under management report the most confidence. Scale appears to correlate with both resource availability and perceived resilience. Larger firms can invest more heavily in technology, risk management, and specialized talent, which in turn reinforces their belief in their ability to capture opportunity in a volatile, opportunity-rich market.

Smaller firms, while also optimistic, may feel more constrained by budget, staffing, and regulatory load. For them, partnering, outsourcing, or specializing in particular niches may be critical strategies to sustain momentum.

Technology: Top Concern, Primary Catalyst

Perhaps the most striking convergence in the findings is around technology’s double role as both concern and catalyst.

Cybersecurity and technology investment are consistently ranked among the top three concerns for respondents, immediately after meeting customer needs. Cybersecurity has held a top-three position for three consecutive years, underscoring the steady accumulation of digital risk as firms expand their technology footprint.

At the same time, 60 percent of respondents say that technological advancement is the most likely factor to trigger an ownership or succession change within their firms. In other words, as the digital bar rises, firms that cannot—or do not—adapt may find themselves compelled to merge, sell, or otherwise restructure.

Technology has become both the primary engine of growth and a key driver of strategic inflection. It shapes product design, distribution, cost-to-serve, risk posture, and even ownership structures.

AI Strategies: Ambitious Roadmaps, Uneven Execution

One of the most revealing aspects of the survey is the gap between AI ambition and AI maturity. Roughly nine in ten respondents report that they either have a comprehensive AI roadmap or are actively implementing AI solutions. On the surface, that suggests widespread strategic intent.

Yet fewer than one-third say they have reached the most sophisticated levels of AI adoption. Many are still in pilot mode, using AI selectively in areas such as:

• Fraud detection and cybersecurity, the most commonly cited use case (67 percent).
• Risk management, identified by 60 percent of respondents as a key AI application.

These are logical starting points: they address tangible risk and operational efficiency problems with clear ROI. However, the full promise of AI in wealth and asset management extends further—to portfolio construction, personalization at scale, predictive client engagement, and internal decision-support.

Closing the gap between roadmap and reality will require more than technology spend. It demands disciplined prioritization, robust data foundations, cross-functional collaboration, and a willingness to revisit legacy processes that are misaligned with AI-enabled workflows.

Workforce Pressures and Succession Preferences

Workforce challenges remain a persistent theme. Nearly half of respondents (48 percent) identify recruitment and retention as an “extremely” or “very important” concern over the next year. Among those, 72 percent say they are responding by increasing benefits and perks, echoing the wealth-management-specific data.

For many firms, the war for talent is now as much about retaining mid-career and senior leaders as it is about attracting juniors. As technology and regulatory demands grow, firms need professionals who can navigate complexity, lead teams through change, and maintain client trust.

When it comes to succession, the vast majority of executives—86 percent—express a preference for internal ownership transitions over mergers or third-party sales, with only 13 percent favoring external exits. This indicates a strong desire to preserve culture, autonomy, and client relationships. It also underscores why internal leadership development and partnership structures are so important in an era where technology is putting pressure on margins and business models.

Methodology: Who Was Surveyed and Why It Matters

The survey was conducted nationally and targeted 120,000 wealth management executives. Respondents included a broad cross-section of seniority and responsibility:

• CEOs, CFOs, and presidents: 32 percent
• Portfolio managers: 27 percent
• Managing partners and partners: 32 percent
• Other senior executives: 9 percent

Firms were segmented by assets under management into three groups:

• Small: less than USD 1 billion in AUM (21 percent of respondents)
• Medium: USD 1–3 billion in AUM (28 percent)
• Large: more than USD 3 billion in AUM (51 percent)

This mix provides a nuanced picture of the industry, combining perspectives from owner-led boutiques, mid-sized regional players, and large-scale institutions. It also allows for analysis of how scale influences optimism, technology adoption, and succession strategies.

What This Means for Leaders and Investors

For CEOs, CIOs, COOs, and boards in wealth and asset management, the message from this research is both encouraging and sobering.

The encouraging part is that growth expectations are strong. Clients still value professional advice and active management, and are willing to pay for differentiated performance, risk management, and integrated wealth solutions. Digital capabilities are seen as a way to enhance—not replace—the human advisory relationship.

The sobering part is that the path to delivering on this optimism is non-trivial. Executives must manage a triad of pressures:

• Digital and AI execution: Moving from pilots and pockets of excellence to integrated, enterprise-wide capabilities.
• Cybersecurity and data governance: Protecting clients and the firm while enabling analytics and personalization.
• Talent and succession: Attracting and retaining the right people, upskilling existing teams, and structuring ownership transitions that preserve value.

Investors, including private equity sponsors and strategic buyers, can read this data as a sign of both opportunity and sorting ahead. Firms that master digital transformation, data discipline, and people strategy are likely to become consolidators and category leaders. Those that struggle may become acquisition targets or face pressure to seek partners.

In short, the outlook is bright—but it will reward clarity, conviction, and disciplined execution far more than optimism alone.

Wealth & Asset Management Outlook, 2026

This structure positions the piece as a credible, data-rich reference that can be cited by industry participants, consultants, and policymakers when discussing the outlook, risks, and strategic priorities shaping wealth and asset management in the years ahead.