I. Introduction In 2022, the asset management industry's scale is evident. Top firms, including BlackRock and Vanguard Asset Management, each manage assets over two trillion U.S. dollars, as cited by Statista. A BCG report provides further insight: the industry grew by 11% in 2020, totaling $103 trillion despite the challenges of a global pandemic. Of this, retail portfolios accounted for $42 trillion, and institutional assets were $61 trillion.