While stock markets reach historical highs, the financial industry continues to struggle with altered consumer preferences and legacy practices as well as new kinds of competitors that are eating away at traditional institutions’ profits and markets. The resulting restructuring of the industry now faces issues related to new competitors that are meeting the needs of the digitally trained consumer and to shrinking returns brought on by reduced costs, low interest rates and a slow-growth economy. With the cost of entering the financial industry seemingly down to a computer and an idea, the proliferation of new competitors has forced legacy financial institutions to join the innovators, by funding them and then, in many instances, buying them. The next wave of industry challenges involves changes in attitudes among citizens, customers and employees about issues such as climate change, stakeholder standing and societal responsibilities.