Executive Summary

In asset and wealth management, the role of trade and industry associations is critical to fostering collaboration, influencing policies, and disseminating knowledge among key stakeholders. The global asset and wealth management market size was valued at $1.25T in 2020 and is projected to reach $3.43T by 2030, growing at a CAGR of 10.7% from 2021 to 2030. This comes at a time of broadening environmental, social and governance standards and stricter regulations over the use of data and technology. With pushback against BlackRock and Fidelity’s move into digital assets for example, the impact of the external environment has never been clearer. Associations serve as critical platforms for professionals within the sector, enabling them to collectively address challenges, drive industry growth, and elevate industry standing.

Associations play a particularly important role in Europe’s asset and wealth management industry, working to represent firms on issues like greenwashing and the global convergence of sustainability and reporting standards. When firms navigate intricate regulatory frameworks to deliver optimal returns, the significance of effective association engagements cannot be overstated. Within this context, trade and industry associations in Europe, such as the European Fund and Asset Management Association, and national associations like the Investment Association in the UK, assume central roles. They not only provide a unified voice for the industry but also offer valuable insights, best practices, and networking opportunities that contribute to informed decision-making and strategic growth. However, corporate affairs leaders working in the asset management space grapple with challenges stemming from underperforming associations. These challenges reflect a gap between the expected benefits of affiliations and the realised value. This discrepancy impacts policy influence, networking initiatives, and even industry reputation.

A comprehensive approach to addressing these challenges is association assessment and optimisation. This solution is marked by its data-driven foundation and strategic alignment with industry-specific goals. Anchored in industry benchmarks and insights, it empowers firms to make well-informed decisions about their association engagements, enhancing resource allocation and strategic concentration. The choice of the right solution holds paramount importance. Tailored recommendations and a holistic evaluation of association impacts, spanning networking, insights, and policy influence, ensures a well-rounded perspective. Implementation support bridges the gap between recommendation and tangible outcomes, effecting change within the European financial context.

The complexities presented by underperforming association memberships necessitate a bespoke, region-specific approach. By embracing comprehensive solutions that leverage data-driven insights, provide tailored recommendations, and offer actionable strategies, Europe’s asset and wealth management firms can confidently navigate the policyscape. This strategic partnership between firms and assessment providers propels enhanced growth, heightened industry influence, and sustained prominence within Europe’s asset and wealth management landscape. To read the full report, please click the download button above.