Wealth Management 2026: Personalization, AI, and Geographical Rebalancing

By 2026, wealth management will have changed in both scale and nature. According to the “Emerging Trends in Wealth Management 2026” study conducted by MSCI among 250 industry professionals, including 65 in Europe, three key trends are emerging: portfolio customization is becoming the norm, artificial intelligence is accelerating as a driver of competitiveness, and asset allocations are gradually shifting away from the United States.

Europe is revising its geographic allocations

In Europe, asset managers are undergoing a significant repositioning. U.S. stocks are losing their appeal in favor of developed markets outside the United States—cited by 77% of respondents—and emerging markets, mentioned by 49%. This shift reflects a desire to reduce what is seen as excessive dependence on a U.S. environment that has become more uncertain.

Over the next three years, 72% of European professionals also anticipate an increase in the allocation to private assets in the portfolios of high-net-worth clients. More than half (52%) expect digital assets to grow, while 31% anticipate an increase in fixed-income securities and 22% in commodities.

AI Adoption Still Considered Behind Schedule in Europe

When it comes to technology, the picture is more mixed. European respondents report the lowest perception of their rate of artificial intelligence adoption compared to other regions. Nearly half (48%) believe that wealth management in Europe lags behind the financial services sector as a whole, and only 22% consider the region a leader in the use of AI.

For Hassan Suffyan, head of wealth management for the EMEA and APAC regions at MSCI, this dual trend is telling: “European wealth managers are rebalancing their portfolios in response to a more unstable and fragmented global environment. At the same time, the need to adopt AI more quickly highlights an opportunity for companies that can successfully combine diversification with increased use of technology and data.”

Personalization is becoming the global standard

Globally, personalization is no longer a differentiating factor but a basic expectation. Today, 98% of new high-net-worth client portfolios incorporate some degree of personalization, compared with just 60% in the previous study.

This trend is largely driven by demand for thematic portfolios, which 53% of participants cited. Direct indexing is emerging as a key tool: 62% of respondents anticipate an increase in its use over the next three years, and 59% consider it essential for effectively serving high-net-worth clients.

Geopolitics and Diversification Outside the United States

The rise in geopolitical risks is having a significant impact on asset allocation decisions. A large majority of the professionals surveyed (86%) expressed increased concerns about new tariffs and global uncertainty, up from last year.

In this context, interest in non-U.S. markets continues to grow. Sixty-one percent of respondents plan to increase their allocations to developed markets outside the United States, while only one-third plan to increase their exposure to U.S. stocks. Emerging markets are also seeing renewed interest, with 48% of advisors anticipating an increase in their weightings.

Private Assets, ETFs, and Portfolio Complexity

Private markets are playing an increasingly important role in wealth management strategies. 83% of the professionals surveyed believe that a robust offering of private assets is becoming essential to client relationships.

To maintain liquidity and flexibility, advisors are increasingly combining these assets with ETFs. This trend is growing rapidly: 73% of respondents believe that ETFs will become more common in their clients’ portfolios as asset allocation becomes more complex.

AI as a Key Factor in Competitiveness

The adoption of AI is accelerating significantly worldwide. 68% of participants now consider it essential to their competitiveness, whereas the barriers cited last year mainly concerned manual processes and inadequate technology platforms.

While 44% still feel they are lagging behind the rest of the financial services sector, the pace of investment is massive: 95% of respondents plan to increase their AI budgets.

For Alex Kokolis, global head of wealth management at MSCI, the debate is now settled: “The challenge for advisors is no longer whether to personalize, but how to do so at scale while maintaining efficiency, consistency, and transparency.”