10.02.25

Consolidation Will Claim 20% of Wealth, Asset Management Firms

by: Alex Padalka

A new Oliver Wyman report predicts significant consolidation in wealth management, with the number of firms expected to decline by 20% over the next four years. Since 2022, the industry has seen over 200 major deals annually, double the previous decade’s rate, and more than 1,500 significant transactions are forecast by 2029. Consolidation is driven by retiring independent advisors, bank investments and private equity exits. Global wealth assets, now $301 trillion, are projected to grow 5.5% annually to $393 trillion by 2029. Top firms will focus on clients with $1 million to $10 million, scale private market allocations, embrace AI, streamline technology and attract talent capable of operating in a client-centric, AI-integrated environment.

Read the full article on Financial Advisor IQ