News

Coalition of Industry Leaders to Conduct Ground-breaking Study into the Future of Wealth Management in the Post-pandemic Era

May 20, 2021 by Mike Daly

Study will analyze how digital, social, regulatory, and economic shifts are permanently transforming the wealth and asset management industry

May 20, 2021 (Philadelphia, PA) – ESI ThoughtLab, a leading global research firm, has joined forces with a coalition of leading wealth management firms, WealthTech innovators, and industry experts to analyze how digital, social, regulatory, and economic shifts—accelerated by the pandemic—will fast-forward the next era of wealth management. Dramatic changes in investor behaviors, experiences, and expectations, along with a major transformation in the workplace for advisors and operating teams, will continue to gain momentum, even after the pandemic ends. This will require financial institutions to act now to rethink their growth plans, products and services, value propositions, and business models for the “new-normal” marketplace.

A probing look into the future of wealth management

To investigate these megatrends and what they will mean for the industry, ESI ThoughtLab is working with Deloitte, eToro, FIS, Salesforce, Appway, HCL, and Publicis Sapient to launch a rigorous research initiative called Wealth and Asset Management 4.0: How digital, social, and economic shifts will transform the industry. This comprehensive study will consist of two major worldwide surveys conducted over the next two months: one of 2,500 investors across age and wealth levels and another of 500 wealth and asset management providers covering a spectrum of industry players. To get a broad perspective, the program will include an advisory board of leading financial, technology, consulting, and research organizations; in-depth interviews with market leaders and experts; and economic modeling and analysis by ESI ThoughtLab’s team of economists.

It will seek to answer a range of critical questions, including:

How will investors across segments change their priorities, expectations, and behaviors in a digital, post-pandemic world?
How will firms need to adapt their products and services, business models, value propositions, and client services to stay competitive?
What will be the biggest opportunities and challenges for wealth management providers in a transformed financial marketplace?
How far will industry players need to go to build ESG into their business strategies, analytical approaches, and product offerings?
How fast and extensively will the industry need to digitize, and which digital technologies and solutions will deliver the best results?
What are the new ways in which work will get done, and how will this affect advisor activities and client relationships?
What will the wealth and asset management industry look like in five years, and what should firms do now to stay relevant?

“The convergence of digital, social, regulatory, and demographic change is upending the wealth and asset management industry,” said Lou Celi, CEO of ESI ThoughtLab and the project director. “Investment providers that do not act now to respond to these new market realities will struggle to compete in the era of Wealth 4.0.”

A multidisciplinary coalition of industry experts

To ensure the acuity of the research, ESI ThoughtLab has established a multidisciplinary advisory board to help shape the research agenda and provide insights to the analysis. In addition to sponsors, the coalition includes senior executives from universal, retail, and private banks, as well as asset management firms, broker-dealers, wealth advisory firms, family offices, hedge funds, venture capital firms, financial associations, academics, and economists.

As part of this open research initiative, ESI ThoughtLab will provide regular updates on the program, along with the latest analysis, useful data resources, and valuable insights, to the global financial community. The research program will continue over the next several months, with the full study findings and related decision support tools to be released in October 2021, along with calls to action for investment providers and the broader investment community.

An upcoming webinar on May 27th will highlight members of the research study advisory board. Discussion points will include the biggest disruptors impacting the industry today, the pandemic’s lasting impacts, as well as an examination of shifting investor behaviors, priorities, and expectations. To register for this interactive panel discussion, please visit https://bit.ly/3bnjfix

For more information, contact:
Lou Celi, Chief Executive Officer
ESI ThoughtLab
Lceli@esithoughtlab.com

Mike Daly, Marketing Director
ESI ThoughtLab
Mdaly@esithoughtlab.com

About ESI ThoughtLab

ESI ThoughtLab is an innovative thought leadership firm that creates fresh ideas through rigorous research and economic analysis. We specialize in assessing the economic, financial, and social impact of latest technology on cities, companies, industries, and world markets. Our services include fielding business, consumer, investor, and government surveys; organizing executive interviews, meetings, and advisory groups; conducting economic modeling, AI sentiment monitoring, benchmarking, and performance analysis; and developing white papers, eBooks, infographics, and customer-facing analytical tools.

Please see www.deloitte.com/us/about for a detailed description of our legal structure.

Wealth & Asset Management 4.0: Digital , Social, and Economic Shifts

May 7, 2021 by Mike Daly

The ongoing pandemic has been a watershed event for businesses and their customers around the world, particularly for the wealth and asset management industry. The crisis has rapidly sped up digital, social, economic, demographic, and regulatory shifts that were already transforming the industry. But the pandemic also has prompted investors to reexamine their life priorities, investment plans, and the way they interact with their wealth management providers.

Join ESI ThoughtLab, FinTech B2B Marketing, and advisory board members of the Wealth and Asset Management 4.0 research study for an interactive panel discussion examining the megatrends disrupting the industry and the future of wealth and asset management. Hear from industry experts and insiders from Charles Schwab & Co., Deloitte, and eToro.

Click here to register.

Moderator: Payal Raina – Founder, FinTech B2B Marketing
Andrew D’Anna – Senior Vice President, Charles Schwab & Co.
Gauthier Vincent – Lead Wealth Management Consulting Partner, Deloitte
Ronen Assia – Co-founder, eToro
Lou Celi – CEO, ESI ThoughtLab

Discussion Points:

Why is this research so timely and important now?
What are the biggest disruptors impacting the wealth and asset management industry today?
How has the pandemic accelerated the transformation of the industry?
What lasting changes should we expect in how work gets done and clients are serviced?
How are investors’ behaviors, priorities, and expectations changing, and how are firms adapting their products and services to meet their clients’ needs?

ESI ThoughtLab and CityAge Invite City Leaders to Attend The 2021 Smart Cities Strategy Summit

March 10, 2021 by Mike Daly

An Exclusive Meeting of Global City Leaders

The COVID-19 pandemic has been a watershed event for cities, with lasting impacts on how residents will live, travel, shop, and work. Our ground-breaking research into the post-pandemic plans of 167 cities worldwide—to be released at the summit—reveals that cities will need to morph into Cities 4.0 to achieve their social, environmental, and economic goals and meet their citizens’ needs after the pandemic ends.
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Cities 4.0 are urban centers that will evolve beyond yesterday’s smart cities to transform and interconnect various urban domains by leveraging technology and data, and by using a wider set of partnerships and innovative financing models. Just as importantly, Cities 4.0 will engage and empower their citizens, and will work with communities to take their social, environmental, and economic agenda to a higher level, fully aligned with the UN’s 17 Sustainable Development Goals.

The Smart Cities Strategy Summit will bring together city leaders from around the world to exchange views on solutions for a post-pandemic world. Participants will include urban experts from ESI ThoughtLab and CityAge and thought leaders from the business, academic, and government, who will help moderate and contribute to the discussion. Unlike other urban-focused events, the Smart Cities Strategy Summit is an invitation-only interchange that will provide a virtual forum for a cross-pollination of ideas and practices, drawing on our latest evidence-based research.
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Please join us at the summit so that you can gather insights from your peers and our analysis to craft a successful roadmap to achieve your post-pandemic urban development goals.

Special thanks to our event sponsors

How Business Will Permanently Change in 2021

February 18, 2021 by Mike Daly

Succeeding in a Transformed Post-Pandemic World

With the end of the pandemic in sight, a new U.S. administration in place, and Brexit a reality, 2021 is quickly becoming a new dawn for business and government. Digital, social, and economic shifts will continue to gain momentum, propelling companies and cities into the Fourth Industrial Revolution. This is a defining moment for business leaders and policymakers. Like other seminal turning points in history, it is galvanizing technological, market, and social forces already in an unprecedented manner.

As this new era continues to unfold, private- and public-sector leaders will require visionary thinking and actionable insights to keep their organizations profitable and their cities safe. To fill this need, ESI ThoughtLab is conducting several thought leadership research programs throughout 2021 to analyze how industries and cities will need to adapt their approaches and digital strategies to succeed. Are you and your clients prepared for 10 ways that business will forever change?

Everything goes digital. Digitalization will upend all industries, giving rise to remote medicine, online education, mobile banking, and smart manufacturing. From operations and sales to HR and financial management, everything that can be better done digitally, will be.
Customers reset priorities. A year of social distancing is permanently shifting the demands, priorities, and shopping behaviors of customers across generations. Customers will expect digital experiences, hyper-personalization, and social awareness from businesses.
The pre-pandemic workplace does not return. Now that agile and remote digital working has been shown to boost productivity, there will be no turning back. Boundaries between firms and ecosystem partners will blur, IT platforms will modernize, and the future of work will start now.
Smart connectivity and on-cloud platforms transform business. The convergence of AI, IoT, cloud, 5G, and faster computing will speed business processes and decision-making while creating seamless connections among billions of devices, products, and services.
Distance loses its relevance. Proximity will matter less to companies across industries, from retail and entertainment to banking and manufacturing. Customer relations will become contactless, except where personal access can provide added value or a competitive edge.
The pandemic ends, but disruption remains. The pandemic has shown that we live in an interconnected world where disruption can occur suddenly and cascade unexpectedly. Agility and resilience will drive business success.
Technology empowers citizens and consumers. Digital connectivity will give people greater input into political, business, and product decisions. Governments will use technology to achieve their social, economic, and environmental goals, with an eye on building digital equality.
Cities adopt a 4.0 framework. The most successful cities will use technology, data, and citizen engagement to achieve sustainable development goals. They will use an agile ecosystem of partners to drive change and support new ways of doing business.
Capitalism becomes inclusive. The crisis has served as a wake-up call for business to think, act, and invest for the common good. Firms will move from shareholder to stakeholder capitalism to meet the changing expectations of customers, investors, and employees.
The US democratic tsunami will redraw the business landscape. While businesses will likely see increases in taxes and regulations, they should also expect a revitalized economy with greater geopolitical alignment and a sharper focus on sustainability and social responsibility.

Big Shifts Lie Ahead

The 2021 thought leadership agenda has been set. The pandemic has shown that we live in an increasingly interconnected world where disruption can occur suddenly and cascade unexpectedly. Agility and resilience must continue to be a driving force for business and government to succeed. Massive transformative shifts lie ahead, and to help our clients and governments around the world, we will be building off of these themes and conducting several cutting-edge evidence-based research initiatives throughout the year. You can preview many of our discussion papers highlighting these themes and current research programs by clicking here.

We’re calling this moment ‘The Big Shift’, and we would love to hear your thoughts on these topics. In our opinion, successful thought leadership is a team sport, requiring collaboration and the right blend of analytical, editorial, and marketing skills. Please contact us today if you would like to learn how you can join one of our many exciting programs.

Lou Celi, Chief Executive Officer, ESI ThoughtLab
Lceli@esithoughtlab.com

Lou Celi is Founder and CEO of ESI ThoughtLab. During his more than 35 years of research, marketing and publishing work, Mr. Celi has helped top organizations build their businesses by engaging corporate and government decision makers. Prior to setting up ESI ThoughtLab, Lou was board director and president of Oxford Economics, where he built the firm’s successful business in the Americas and set up its global thought leadership practice.