The transformation of fee and distribution models that asset managers must address to compete are some of the primary game-changers impacting mutual fund and ETFs.

A new report by PwC sheds light on why the asset management industry is at a precipice of unprecedented growth and change. North America fund firms, the report says, are forecasted to have AUM in 2020 of more than $49 trillion, exceeding expected AUM for Europe, Asia Pacific and Middle East and Africa combined. In a Q&A with Money Management Executive, John Siciliano, managing director for PwC's global asset management consulting practice, talks about what's driving wealth management AUM globally and how mutual fund and ETF managers must adapt to stay in the game.

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