2020 concerns for increasing regulation
Regulation, increasing competition, and market downturn are the issues wealth managers are expecting for 2020, according to a Super Recruiters survey.
The survey found that 37% of wealth managers were concerned about increasing regulation, 23% for increased competition, and 21% for a market downturn. For employees, 53% expected to feel more stressed next year.
Source: Super Recruiters
However, managers still expected to see improved, or at least stable, business conditions, which would lead to more opportunities for innovation and growth, both in terms of assets and business, according to Super Recruiter’s partner Matthew Coleman.
The survey also found that 63% of respondents expected 2020 to be a better year for the industry and their organisation, which was an increase from the year before. Another 26% expected it to be similar to 2019, and 5% expected it to be worse than last year.
“More respondents to this year’s annual outlook survey are more optimistic about the future than at any other time in the past five years,” Coleman said.
“This optimism is also despite the freeze in the increase of the superannuation guarantee levy. Most respondents support the lifting of the levy, though many believe it should be delayed further.”
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
