However, he adds that given the breadth of dictionary fund managers and fund providers who offer ready-made solutions, he does not see the use of adviser-built models growing.
Dalby adds another theme will be how multi-asset investing develops to best meet the needs of investors who are in retirement.
He says: “To date, the vast majority of solutions have been designed for accumulation purposes, but it feels like there is scope for some innovation in relation to those who need to draw a sustainable income for two to four decades.”
The rise of artificial intelligence is also impacting multi-asset investing.
Elliott Frost, investment manager at Lumin Wealth, says technology-driven investments via AI and machine learning are being integrated and utilised within finance to optimise the decision-making process.
Although, he argues that the actual usage and performance of this is debatable and will become more finessed as time goes on.
He adds: “Using these technologies brings new processes such as automated asset allocation, of which we have already seen created through robo-advisers etc, and these will increase the streamlining of process and reduce human error. However, we do see that a lot of these technologies are backward looking and therefore must be incorporated with caution.
"There is a large increase in the number of advisers using technology to get a broader and more accurate picture of clients’ portfolios. This allows advisers to tailor solutions more appropriately to the risk profile of clients.
"We have seen firms using technology to flag issues with clients’ portfolios, making it aware to a human adviser that a meeting or changes could be necessary. This seems like a positive and proactive move forward.”
Chris Ellis Thomas, portfolio manager of MyMap at BlackRock, says he sees waves of transformation on the horizon.
He suggests that the race to build out AI, the low-carbon transition and the rewiring of supply chains will spur major capital spending.
He adds: “Multi-asset investors should consider how they can benefit from these mega forces, particularly through granular equity allocations to well positioned sectors.”
In contrast to concerns expressed by some experts, David Aujla, fund manager in the multi-asset strategies UK team at Invesco, says that the future of multi-asset investing is a bright one.
He adds: “Interest in multi-asset products has increased in recent years for a variety of reasons, including regulation, and I think that trend of increased interest is set to continue.
"What we have seen over the past few years is that rather than buy multi-asset funds as if they were just another single strategy investment product, many advisers require access to a broader set of capabilities, including insights, and see it as a partnership that helps deliver good outcomes for their clients.
