Providing New Insights into the Future of the Investment Profession
More Industry Future ContentForesight to Influence
Artificial Intelligence and the Future of Finance: A Framework for Structural Change
This report addresses how artificial intelligence could reshape finance by changing how investors process information, allocate capital, manage risk, define professional skill, and preserve accountability in an increasingly automated system.
Understanding the Growth of Private Markets: Structural Shifts in the Investment Industry
Private markets now shape capital formation, portfolio construction, and financial stability. This report examines private markets’ growth, risks, and implications for investors, policymakers, intermediaries, and the investment profession.
Research
The Algorithmic Market Hypothesis: Information Efficiency in the Age of AI
This report examines the transformation of financial markets as trading shifts from human-driven to algorithmically dominated activity, with particular focus on LLMs as a distinct and increasingly influential category of market participant.
Chinese Investors: Understanding China’s Next Generation of Wealth
This report examines the goals, investment behaviors, advice needs, and digital preferences of China’s young affluent investors, offering practical insights for wealth managers serving the next generation.
Next-Gen Investors: A Guide for Wealth Managers and Financial Advisers
This report explores how Gen Z and millennial investors are reshaping financial advice, including shifts in behavior, product demand, and how wealth managers can adapt.
Policy in Action
PCAOB’s Standard, “A Firm's System of Quality Control and Other Amendments”
CFA comments on the SEC Filing of PCAOB’s Standard, “A Firm's System of Quality Control and Other Amendments”
Financial Promotions on Social Media (GC23/2)
CFA Institute and the CFA Society of the UK (CFA UK) respond jointly to the FCA’s consultation on financial promotion on social media (GC23/2).
The Audit Gender Gap: Has It Narrowed?
A 2018 CFA Institute study found that women rarely run the biggest audits at Big Four accounting firms. A new report examines updated data to determine whether the gap has changed and how much progress is still needed.
Be Informed
Next-Gen Investors and the Future of Financial Advice
In this webinar, CFA Institute researchers will present findings from Next-Gen Investors: A Guide for Wealth Managers and Financial Advisers. Drawing on survey data from more than 2,400 mass-affluent, high-net-worth, and very-high-net-worth investors across six major wealth management markets, this research examines how younger investors approach financial advice, investment decisions, and adviser relationships.
Adapt to Lead: Career Lessons from Kam Shing Kwang, CFA
How do you build a 30-year career in a constantly changing financial industry? Kam Shing Kwang, CFA, credits adaptability. She shares insights on mastering fundamentals, embracing client-facing roles, and navigating competition. Kwang is CEO, Hong Kong, and Chairwoman for North Asia at J.P. Morgan. Her journey offers timeless lessons for finance professionals on resilience, leadership, and growth.
Outperformed by AI: Time to Replace Your Analyst?
When advanced AI models beat seasoned analysts at their own game, the future of investment research comes into question. This piece explores how prompt engineering, model selection, and human-AI collaboration are redefining what it means to generate alpha. Michael Schopf, CFA, demonstrates why mastering these tools is fast becoming a professional imperative. AI won’t replace analysts—but those who fail to integrate it may find themselves replaced by those who do.
CFA Institute Research and Policy Center Delivers Insights on Investment Industry Transformation
CFA Institute Research and Policy Center examines the structural shifts and future scenarios that will shape markets, investment practices, and industry dynamics. Through its Foresight-to-Influence approach, the Research and Policy Center connects emerging trends with practitioner research, guidance, standards and policy to help shape the future of the investment profession.
The theme Providing New Insights into the Future of the Profession focuses on industry transformation: how firms, professionals, and market participants are having to evolve and redefine skills, capabilities, and responsibilities within the broader investment ecosystem.
Our research identifies the issues that will matter most to investors and investment professionals, assesses their impact, and develops thought leadership and practical solutions that strengthen market integrity, improve industry practice, and support better investor outcomes.