Cybersecurity and regulatory compliance, implementing the right technology tools and ensuring AI readiness are among the top concerns of wealth management executives in 2025, according to a new survey by Wipfli, a top 25 advisory and accounting firm.
Wealth management leaders say technology is of critical importance for their company’s success. Survey respondents are confident about revenue growth in 2025 but are aware of the risks associated with tech investments, Wipfli reports. Among respondents, 91% say they expect their firms to grow 5% or more, while 36% project growth of 8% to 10%.
“Respondents’ answers reflect an understanding that technology is essential to success in high-performing companies,” says Wipfli partner Ronald Niemaszyk in a news release. “They’ve seen automation, AI and digital apps enhance the efficiency and effectiveness of their work, and they want to ensure that they’re taking full advantage of these tools.”
In the area of succession planning, 52% of respondents say rapid technological advancements will drive ownership changes within their firms in the future. Respondents expressed a strong preference for internal transitions — to employees, shareholders or family members — but the reality is that third-party sales are far more prevalent, Wipfli notes. It’s critical for executives to address this discrepancy if they want to align their succession plans and their long-term vision, according to the report.
“It’s an interesting insight and suggests an opportunity for executives to start thinking about how they can facilitate an internal transition, if that’s what they want to see,” says Justin Koebel, director at Wipfli.
Regarding technology, respondents say tools like automation apps and AI are making a major impact on their business. But most wealth management leaders are still in the exploratory phase regarding AI in business applications, recognizing the potential but proceeding with caution, Wipfli says.
Wipfli surveyed 109 C-level executives at wealth management firms across the United States for its report.
