“These projections are realistic, but there are a lot of variables,” said Anna Kooi, partner and financial services practice leader at Wipfli. “If firms are counting on market performance or M&A to support growth, that’s outside their control. The levers they can control — like driving organic growth — have been harder to activate.”
Meanwhile, complexity has intensified. Firms are facing intersecting pressures — from evolving compliance expectations to shifting market dynamics and accelerating technology demands.
“Firms are optimistic, but they’re also managing more moving parts than ever before,” Kooi said. “Success depends on how well leaders can prioritize and execute amid all that noise.”
Technology could help close that gap.
“Tools that enhance how advisors personalize client interactions, anticipate client needs and deepen relationships can be just as valuable as tools that improve back-office efficiency,” Kooi said. “Firms can’t get away from making investments in technology, data analytics and AI.”
Nearly nine in 10 (89%) wealth management respondents said they use AI and data analytics to support decision-making. Almost half (49%) reported using real-time insights to guide automated decision-making and business strategy, and 40% said they use predictive models and dashboards.
Respondents also identified barriers to implementing data analytics effectively. Data privacy and security were cited most often, followed by data quality issues and integration with existing systems.
Most respondents reported using AI in some capacity, but few have advanced to true enterprise readiness. “A lot of firms are experimenting,” Kooi said. “They may have AI embedded in certain tools or workflows, but that’s not the same as having a roadmap that ties back to business strategy.”
Nearly all respondents expect their firm’s revenue to grow in the next 12 months. About two-thirds projected growth of 8% or higher.
When respondents rated their level of concern across a range of issues, technology-related factors consistently ranked near the top.
Most respondents said their firms are actively implementing AI solutions in targeted areas with defined goals and metrics. Respondents from large firms were significantly more likely to report having a comprehensive AI roadmap.
Two-thirds of respondents said their institutions plan to open a new branch within the next 12 months.
The full report also covers:
- Growth trends: See how growth projections have changed over the years — and how they vary by asset size.
- Strategic levers: Respondents shared their top growth strategies, digital strategies and recently added services.
- Cyber responses: Learn how respondents say they’re fortifying defenses against rising fraud and cybersecurity threats.
- AI strategies: Respondents using AI revealed their top use cases.
- Branch strategies: See what factors weighed into branch strategy decisions, plus how executives said they plan to repurpose existing locations and serve accountholders after closures.
- Talent: Respondents who cited employee recruitment and retention as a top concern shared actions they’ve taken to address workforce pressures.
- Next steps: Wipfli advisors add context and offer strategies to help leaders grow, modernize and protect their organizations amid new digital realities.
Download the full report for deeper analysis and all the data. For media inquiries, contact Alicia O’Connell at alicia.oconnell@wipfli.com.
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