Market Research Report
Global Wealth Management Market Size study, by Business Model Provider End-user (retail, high net worth individuals and Regional Forecasts 2021-2027
|Global Wealth Management Market Size study, by Business Model Provider End-user (retail, high net worth individuals and Regional Forecasts 2021-2027|
Published: September 2, 2021
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Wealth Management Market is valued approximately USD XX trillion in 2020 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2021-2027. Wealth management is an investment advisory service that combines investing and financial advice to meet the demands of high-net-worth individuals. It entails developing plans to attain specific financial objectives over time, retirement planning, accounting and tax services, estate and legal planning, and generally delivering a tailored approach under the wealth services portfolio. These services are often provided to high-net-worth individuals (HNIs) who have a professional wealth manager who makes fund allocation recommendations to the clients. Furthermore, the market for wealth management is anticipated to be hindered by growing demand for Fintech services. Furthermore, due to the rapid adoption of robo-advisor technology among wealth management firms, the rise in demand for operational efficiency and transparency in providing wealth management product lines, and the surge in demand for customized advisory among high-net-worth individuals globally, the global wealth management market is in its developing phase and has a high growth potential. For instance, a research published in 2019 by Ernst & Young Global Limited, a global professional services firm, predicted that FinTech usage will rise from 38 percent to 45 percent in the following three years. With almost 35% increase among mass affluent customers and 41% growth among high-net-worth individuals, this growth will raise wealth segment among mass affluent consumers (HNWI).
The main regions of Asia Pacific, North America, Europe, Latin America, and the Rest of the World are included in the geographical analysis of the worldwide Wealth Management market. North America led the market in 2020, and this wealth management market trend is likely to continue over the forecast period. This is due to the existence of a large number of high-net-worth people and increased rivalry among banks such as UBS, Morgan Stanley, and Bank of America Corporation to provide the best possible service to its clients. In North America, this is a key growth factor for wealth management services. However, Asia-Pacific is anticipated to expand at the fastest CAGR throughout the projection period, as numerous high-net-worth and ultra-high-net-worth people in the area continue to seek wealth management services.
Major market player included in this report are:
Bank of America Corporation
Charles Schwab & Co. Inc.
Credit Suisse Group AG
JP Morgan Chase & Co.
Julius Baer Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Mode of Operation offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Business Model:
Traditional wealth managers
High net worth individuals (HNIs)
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027
Target Audience of the Global Wealth Management Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures