In general, an external asset manager (EAM) is a wealth manager whose functionality is independent of banks. Sometimes known as independent asset management (IAM), the industry offers many services to a particular clientele. With the pandemic disrupting many industries globally, we take a look at some of the trends shaping the asset management landscape. Rise of the External Asset ManagersAs technology takes over the traditional ways of banking, it also gives rise to the need for EAMs. According to PWC, the changing demographics and markets will thrust asset management to centre-stage. Regulation will probably hinder banks and insurers by driving them to leave behind proprietary investing and other core businesses. Tap into Technology (But Sensibly)According to Accenture’s latest study, it’s not enough for asset managers to leverage on technology; but to “understand their applicability to specific areas across the investment lifecycle”. From automation to applied intelligence (AI) and analytics, these technologies not only help with cost savings but may also increase flexibility and adaptability to drive strategic objectives.Focus on long-term viabilityIf anything this year has taught us is the dire need to be agile - same goes for asset management. Asset managers need to build with future disruptions in mind, taking an agile approach with the ability to adapt and drive change.Photo Credit: Gino Crescoli from Pixabay