After enjoying the fruits of a robust market through the first three quarters of last year, wealth managers may be hunkering down in 2019, according to the Aite Group.

In a report forecasting the top 10 trends in wealth management, the research firm said firms will be busy "future-proofing" their businesses.

"2019 will see wealth management firms accelerate changes in their business model and technology," the firm said.

This year may be particularly significant for wealth management firms as they reposition themselves for the inevitable market correction that will replace the current record-length bull run, the report said.

Below, in no particular order, are the Aite Group's top 10 trends in wealth management for 2019.

Fees Are Compressing

Financial advisors will respond to a changing marketplace by implementing competitive fee arrangements. Product manufacturers will also be pressured to respond to consumer demand through technological advancements for greater transparency and access.