Episode 219: Ben Phillips: Looking into the Crystal Ball for the Asset Management Industry of the Future

Ben Phillips was  Head of Asset Management Global Advisory Services at Broadridge Financial Solutions, based in New York, at the time of recording.  He has recently announced his move to Oliver Wyman He has had a long background in consulting at firms such as Casey, Quirk, Deloitte and Cerulli Associates and has focused for much of his career on the dynamics and evolution of the asset management industry. I asked Ben here to let us look over his shoulder into his crystal ball to chart the future course of the asset management industry.

First Ben draws on the experience of his career in asset management consulting which has spanned over a quarter century. We look at factors such as the:

·   Growing demand for customization of product

·   Generational changes and how this affects client demand 

·   What role “mission or purpose” plays in this evolution of demand and what this means for sustainable investment solutions. 

·   The evolution of Mutual Funds

·   The key role of data and data-driven approaches in the evolution of the industry.

· What role AI will play and whether we will see the birth of the new, more intelligent robo-advisor? 

We look then at the evolution of asset management as a service industry rather than simply as a provider of product, and look at the importance of a dynamic client development function.

Series 5 of 2023 is sponsored by With Intelligence, which connects investors and managers to the right people and data to raise and allocate assets effectively.

The music in this podcast series – provided by Julia Kwamya – is available on her album on Spotify: Feel Good about Feeling Bad https://open.spotify.com/album/7lTQWSHeaVo3xHuF9q8ilv?si=uvGJZX7FQ9-2wX-0e951ZA&nd=1