How will fintech impact the asset management industry?

A rapidly growing area of the financial industry

Financial technology or 'fintech' is growing at a rapid pace, something that has not gone unnoticed by traditional asset managers who can see the threat to their market share. As investors' profiles and preferences change and technology continues to break new bounds, asset managers need to decide how to incorporate fintech into their strategies or face being left behind.

While the fintech sector is still in its infancy, it is already growing hastily. According to a report from Statista, the amount of global assets managed by robo-advisers is expected to grow at an annual rate of 38.2% between mid-2018 and mid-2022. Data accrued by Accenture also shows fintech investment set a new record globally last year, having risen by 18% from the previous year to $27.4bn. It is therefore unsurprising those in the asset management industry are worried about the future of their careers.  A global survey from PwC, entitled Beyond Automated Advice: How FinTech is Sha...