PwC’s latest report forecasts that Europe’s asset and wealth management sector will continue to expand, with assets under management expected to grow at an annual rate of 4.8%. The firm estimates this could generate an additional US$67 billion in revenue across the region by 2030.
The report highlights that future growth is unlikely to be shared evenly, with firms needing to adapt as traditional growth strategies become less effective. It identifies the UK as one of Europe’s fastest-evolving markets, driven by pension reforms, regulatory developments and the continued rise of platform-based wealth services.
PwC also notes that changes to the UK’s pension landscape are encouraging defined benefit schemes to remain invested for longer and increase exposure to private markets, while defined contribution master trusts are gradually allocating more capital to alternative investments to support stronger long-term retirement outcomes.