Wealth Management Market Size Comprehensive Analysis, Growth Forecast from 2021 to 2027

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Sep 13, 2021 (Market Insight Reports) — Market Study Report has added a new report on Wealth Management market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Wealth Management market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Global Wealth Management Market to reach USD trillion by 2027.Global Wealth Management Market is valued approximately USD trillion in 2020 and is anticipated to grow with a healthy growth rate of more than % over the forecast period 2021-2027.

Major market player included in this report are:

  • Bank of America Corporation
  • BNP Paribas
  • Charles Schwab & Co. Inc.
  • Citigroup Inc.
  • Credit Suisse Group AG
  • Goldman Sachs
  • JP Morgan Chase & Co.
  • Julius Baer Group
  • Morgan Stanley
  • UBS

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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.

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:

Human advisory

Robo advisory

Hybrid advisory

By Provider:

Fintech advisors

Banks

Traditional wealth managers

Others

By End-user:

Retail

High net worth individuals (HNIs)

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

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors

Full Report Summary At:https://www.marketstudyreport.com/reports/global-wealth-management-market-size-research?utm_source=marketwatch.com&utm_medium=AG

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The MarketWatch News Department was not involved in the creation of this content.