Global retirement assets will hit nearly $57 trillion by 2020, with slightly more than half of that total in North America, according to a forecast from PricewaterhouseCoopers.
Most of the growth will be in defined contribution plans, although the report said traditional pension plans will remain viable until mid-century. Total worldwide assets under management will top $100 trillion in the next six years.
That growth offers an opportunity to asset managers, but first will come changes in the way advisors operate. Those changes will include greater reliance on technology, streamlining of platforms and fees, and greater reliance on alternative investments, such as exchange traded funds.
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