Asset managers need to be 'ahead of the curve' amid transformational digital environment

Legacy technology remains primary obstacle

Despite spending on average £15m a year on digital technology, almost a quarter of asset managers feel their digital maturity is "fragmented" and they are beginning to lag behind other organisations, according to a survey conducted by asset and wealth management consultancy firm Alpha FMC.

The research, which surveyed people from 15 of the largest asset management firms collectively managing over £7trn assets, found asset managers still face a number of significant challenges to implementing their digital programmes. Some 69% of respondents said legacy technology remained the primary obstacle to change while 62% pointed to the need for a widespread change in company culture and mindset. Enter the vortex: How asset managers can transcend digital disruption Furthermore, just under half of asset managers said it was a lack of resources or relevant skillsets which was th...