Wealth Management Market - Global Industry Analysis

Wealth Management Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Technology & Media Report Format : PDF Report Code: ZMR-6654 Status : Upcoming

Description

Global Wealth Management Market: Overview

Wealth management is a type of asset advisory service that discourses the requirements of the clients. Such services offer clients with an all-inclusive provision to endure and raise their wealth. Wealth management also includes a cutting-edge research-based advisory coupled with convenient and customizable execution of investment. Wealth management comprises of sale of wealth management services and solutions by entities, such as traders and partners, that facilitate planning, advising, and managing a vast array of assets that belongs to both high net worth and ultra-high net worth corporations, individuals, government, and non-government agencies. Such players provide retirement planning, financial advice, investment advice, legal planning & procedures, and estate planning, among others. Wealth management businesses offer substantial growth prospects, high return on equity, and low capital requirement than other retail banking services. Such a move attracts diversified financial service firms to aid in growth.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Wealth Management Market: Growth Factors

The rise in retiree population, surge in the wealth of high net worth entities, and mounting inclination towards alternative investments drive the growth rate of the global wealth management market. Alternative investments are non-conventional financial assets that include bonds, stocks, and cash. The rising investments in such wealth management solutions such as private equity, hedge funds, commodities, real estate investment trusts (REITs), mineral rights, art & antiquities, derivatives, such as options & swaps, and intellectual property boost the market growth. In addition to this, the quick acceptance of cloud solutions is observed in the wealth management market. The huge benefits of the cloud services in comparison to its counterparts including scalability, agility, decreased operational costs, flexible payment options, self-service capabilities, and easy access to data are boosting the growth rate of the wealth management market. In addition to that, the increase in wealth of individuals and the need for compliance with regulations also favor the use and demand for wealth management firms and their services. Furthermore, the rise in portfolio management and trading may create numerous opportunities for the growth of global wealth management market. However, the increased cyber risk, burden regarding fees, and strict regulations curbs the market to a limited extent.

The Covid-19 outbreak affected the wealth management industry to a certain extent. Owing to the lockdown measures imposed by several economies and the decline in economic growth, the wealth management industry is set to grow at a slow yet steady rate in the near future. Also, the rise in stock trading and wealth exchange platforms even in pandemic outbreak, is subjected to aid the wealth management market growth over the forecast period.

Global Wealth Management Market: Segmentation

The global wealth management market is segmented into type of asset, advisory mode, type of wealth manager, enterprise size, client type, services, and others. The global wealth management market on the basis of type of asset is segmented into equity, fixed income, alternative assets and others. On the basis of advisory mode, the market is classified into human advisory, robo advisory, and hybrid advisory. Based on type of wealth manager, the global market is divided into private banks, investment managers, full-service wealth managers, stockbrokers, and others. On the basis of enterprise size, the market is bifurcated into large enterprises, and medium & small enterprises. Based on client type, the market is segmented into mass affluent, HNWI, pension funds, insurance companies, and sovereign wealth funds. Based on services, the market is divided into asset management, portfolio management & investment advisory, and funds, trusts & other financial vehicles.

Global Wealth Management Market: Regional Analysis

The North American market is anticipated to hold the majority share in the global wealth management market owing to the rise in inclination towards AI-driven services by prominent players, including Bank of America and Wells Fargo. Such firms have AI-based applications to tackle the customer requests. The European region is predicted to account for a substantial share due to the increased adoption of hybrid wealth management services by citizens. Moreover, countries in the Asia Pacific region are focused on diversification, availability in private markets, reduction in portfolio risk, and low correlation with other assets, which in turn is projected to fuel the growth of the regional market during the forecast period. On the other hand, the awareness about the relatively high returns and less regulations is pushing the customers to opt for wealth management services across the rest of the world.

Global Wealth Management Market: Competitive Players

The prominent players in the market include JPMorgan Chase & Co., Wells Fargo & Company, Bank of America Corporation, UBS Group AG, Morgan Stanley, the Goldman Sachs Group, Inc, Credit Suisse Group AG, HSBC Holdings plc, Industrial and Commercial Bank of China Limited, Kotak Wealth Management, Citigroup Inc., IIFL Wealth Management, Edelweiss Wealth Management, Axis Bank Wealth Management, BNP Paribas Wealth Management, Avendus, Angel Broking, AUM Capital, Noah Holdings, KW Wealth Advisors, CreditEase, and AVIC Trust, among others.

Global Wealth Management Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

The rise in retiree population, surge in the wealth of high net worth entities, and mounting inclination towards alternative investments, drive the growth rate of the wealth management market. Alternative investments are non-conventional financial assets, that include bonds, stocks, and cash. The rising investments in such wealth management solutions, such as private equity, hedge funds, commodities, real estate investment trusts (REITs), mineral rights, art and antiquities, derivatives, such as options and swaps, and intellectual property boost the market growth.

Some of the key players in the global wealth management market are JPMorgan Chase & Co., Wells Fargo & Company, Bank of America Corporation, UBS Group AG, Morgan Stanley, the Goldman Sachs Group, Inc, Credit Suisse Group AG, HSBC Holdings plc, Industrial and Commercial Bank of China Limited, Kotak Wealth Management, Citigroup Inc., IIFL Wealth Management, Edelweiss Wealth Management, Axis Bank Wealth Management, BNP Paribas Wealth Management, Avendus, Angel Broking, AUM Capital, Noah Holdings, KW Wealth Advisors, CreditEase, and AVIC Trust.

The North American market held the majority share in the global wealth management market owing to the rise in inclination towards AI-driven services by prominent players, including Bank of America and Wells Fargo.

 

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