With 2020 quickly approaching, Business Insider has been polling executives, analyst, and venture investors to learn what finance, investing, payments, and real estate will look like in 2030.
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| | | | With 2020 quickly approaching, Business Insider has been polling executives, analysts, and venture investors to learn what finance, investing, payments, and real estate will look like in 2030.
You can read our full list of 26 key predictions here.
If there's one takeaway, it's that technology and big data will inevitably continue to drive some key shifts. And the type of skills and jobs needed in and around finance are generally expected to look very different in 10 years.
- Virtual and augmented reality will transform investor education, and the tech may also find a home on trading floors. Banks will also explore these methods to visualize their own firm-level risk in three dimensions.
- Wall Street firms will keep moving offices to secondary and, increasingly, tertiary markets. Finance will track tech in terms of office design — expect more sit-stand desks. Still, the pendulum will swing back from open floor plan designs as firms realize that they need private spaces to keep employees happy and productive.
- Private equity firms will continue to raise record-sized funds. Blackstone already broke records this year when it raised the biggest-ever PE fund, which came in at $26 billion. That means more competition for assets, which will pressure returns. The use of data, which is already being developed by firms such as Blackstone, KKR and Neuberger Berman, will be an important differentiator, experts said.
- Residential brokerages will likely separate into three tech-heavy tiers, and alternative models of home financing will continue to gain traction. Meanwhile, housing affordability will continue to be a challenge, which could result in more people turning to modular construction and other solutions.
- Internet of things payments, could soon be a reality for smart cars, and other devices like appliances could follow.
- Mortgage lending will finally feel the Amazon Effect, meaning closings could take days instead of weeks.
- The lines between private equity and hedge funds will blur., With fewer public companies and an IPO slowdown, the private market opportunities for hedge funds like Tiger Global and Coatue have become more attractive, even as sky-high valuations have plagued investors that dove into companies like WeWork.
- Wealth management executives largely see the industry dominated by fewer large players than today; wealth managers (who still exist) regularly harnessing artificial intelligence; and advisers taking on a more concierge-like role.
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