Up to $47b in revenue up for grabs for APAC wealth and asset managers

AWM companies in the region manage only 22% of assets versus Europe’s 40% and North America’s 60%.

Up to $47b of new revenue in APAC is up for grabs for asset and wealth management (AWM) companies over the next five years, PwC said in a July 2026 report. 

Total assets are set to rise by 6.3% compound annual growth rate (CAGR) to $153.4t by 2030, dominated by high net worth (HNW) and mass affluent segments.

Today, AWM organisations manage only 22.4% of institutional and retail client assets, PwC said. For comparison, in Europe the penetration rate is nearly 40% and in North America it’s nearly 60%.

Tech can be a key differentiator, with 71% of APAC institutional investors surveyed by PwC saying that they plan to allocate capital to asset managers developing tech-enhanced products and services.

Younger investors want wealth strategies that are ESG-led (73%), technology-focused (73%), and climate-oriented (53%).

Fastest growing products include passive investments, exchange-traded funds, and alternative investments, PwC found.

In a separate report, McKinsey & Co. said that private banks—especially those in Europe—must consider transitioning their relationship managers (RMs) focus from client service to client acquisition.

RMs must transition from being a single source of information and advice to serving as client relationship orchestrators who interact with investment advisors and specialists, the management consulting firm said in July 2026.

Another report by McKinsey said organisations to diversify their strategies for HNW and mass affluent clients to meet their different expectations and needs.

“Affluent respondents want simplified, digitally enabled solutions and cost transparency. The HNWI segment, on the other hand, wants a bespoke, high-frequency, and multichannel advisory,” McKinsey said.