The SPARK Institute and global consulting firm Korn Ferry announced the launch of a research initiative to ascertain what qualities will define future leaders in the retirement industry.

The work seeks to identify the evolving skill sets and succession strategies required to guide retirement industry businesses into a future shaped by digital innovation, demographic changes and shifting consumer demands. 

“The retirement industry is evolving faster than ever,” said Tim Rouse, executive director of the SPARK [the Society of Professional Asset Managers and Recordkeepers] Institute, in a statement. “We’ve moved from a sales-first model to operational rigor—but we don’t yet know what’s next. Understanding the skills our future leaders will need is the first step toward building the talent pipelines that will secure our industry’s future.”

The study will be led by Korn Ferry and feature executive surveys and in-depth interviews with senior leaders across the industry, including recordkeeping, investment management and financial advisory services. The findings will debut at the SPARK Forum in November, with a full report provided to SPARK’s 90 member organizations.

Key research themes include:

• Identifying the most critical leadership attributes across the retirement industry;
• Evaluating the importance of emerging skills like the integration of artificial intelligence, data analytics and client relationship management;
• Highlighting effective leadership development practices such as mentorship programs, rotational roles and international experience; and
• Assessing the current and future role of succession planning within firms.

“Succession planning isn’t just about continuity, it’s about transformation,” said Joe McCabe, vice chairman of Korn Ferry, in a statement. “As our industry’s challenges shift, so too must our leadership strategies.”