Asset management, like so many industries, is facing challenges and opportunities with the latest technological advances. The industry is embracing so-called disruptors, including artificial intelligence (AI), blockchain, cloud computing, and robotics. There’s recently been a remarkable shift in attitudes. For example, robo advice was initially ignored by the asset management industry but now dominates it.
The lure of better, faster, more intelligent ways of managing the business is proving irresistible. At the same time, the rapid change — much of which emanates from technology companies as opposed to financial services companies — is stoking fears of disintermediation. Further anxiety lies in the possibility of human displacement by ever smarter and more efficient tools.
At the 2017 NICSA conference, an expert panel discussed the disruptors. Moderated by SourceMedia’s Suleman Din, managing editor, Money Management Executive, the panel included: Tom Secaur, global chief operating officer for Citisoft, a buy-side investment management consulting firm; Dan Houlihan, executive vice president, Corporate and Institutional Services, at Northern Trust; and Tony Warren, head of Strategy and Solutions Management, Asset Management and Insurance, at FIS. Asked about changes to the asset management industry, Tom commented, “We’re seeing a shift where firms, clients, and service providers are devoting their resources to thinking about fintech innovation. When we visit our asset management clients, disruption is top-of-mind.” For more insight from industry thought leaders on disruption in the investment management industry, read the full synopsis from FIS.
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