The Industry Outlook for this year identifies a number of structural changes influencing the industry’s outlook for 2026. One of the trends is that firms are looking at consolidating their channel coverage models into a hybrid approach and they are increasingly doing this in certain regions or across their business.
Due to continued growth in ETFs, and sustained momentum in Private Credit, Private Markets continue to dominate anticipated inflows. EMEA is considered the most competitive region for asset retention, reflecting increased pressure across both Institutional and Wealth channels, while the United States continues to be the single largest source of expected inflows. Businesses are improving how they interact with customers through their distribution channels in tandem with these asset flow dynamics.
There has been a noticeable shift towards higher attendance in the workplace as working patterns have continued to change post COVID. In 2026, a combined Institutional and Wholesale approach will be the most popular model, and national leadership will be increasingly in charge of managing both channels.
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