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The Asset Management Work Environment will never be the same
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The Asset Management Work Environment will never be the same

Asset management’s future will be either entirely virtual or hybrid, with a combination of online and in-person contact. Either way, the old ways of doing business seem to have ended.

InA December articleThe authors, Oliver Wyman partners Julia Hobart (author), Joshua Zwick (partner), and Kamil Kaczmarski (author) outlined ten trends that will affect the asset management industry in 2022. This includes the shift towards a virtual working model. According to the article, research that the firm conducted before the Covid-19 pandemic indicated that a completely virtual asset manager  one that would eliminate in-office, in-person contact with clients  could lower the managers cost base by about 40 percent.

Zwick, Zhang and Kaczmarski all concede that most managers will eventually switch to a hybrid business model, but they argue that some trailblazers may opt to go all-virtual to cut down on costs and provide better customer service. Zwick said that there is greater pressure within the industry to lower costs. Institutional Investor. The buoyant markets have been a boon. [float]All boats have a bottom. Managers are now focused on ways to make their business more efficient. 

Zwick stated that many managers spend significant capital on client service expenses, including travel and entertainment. These expenses have declined over the past two decades, allowing managers the opportunity to pass savings directly to the bottom line of their companies. The question now is if those savings will stay in-house, or be passed on eventually to clients.

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