The company’s 2025 global wealth and asset management report with Morgan Stanley, titled Thinning The Herd: The Race For Relevance Fueling M&A, predicted over 1,500 “significant” transactions involving asset and wealth managers in the next five years.
Record transactions in terms of AUM were seen in 2024 on the back of high-profile mergers and bumper mid-market consolidation activity.  
The effects of these transactions is evidenced by the number of net new fund managers falling away; having produced an average of 150 new managers for the past two decades, the asset management industr…