Global Wealth Management Market Trends And Strategies Of Major Players In The Wealth Management Market 2021-2030

15 Jun, 2021

The wealth management market consists of sales of wealth management services by entities (organizations, sole traders and partnerships) that plan, advise on and manage various kinds of assets. This market covers financial and investment advice, retirement planning and legal or estate planning but excludes accounting and tax services. The market size is the revenues generated from the fees and commissions levied on the assets being managed. It does not include the value of investments held or the amount of money invested in a given year, net or gross. This market includes the custodian charges of the firms as well as any other fees, margins or service charges but excludes brokerage fees levied on securities transactions unless they are included within the service fees or commissions.

Global Wealth Management Market Size And Drivers:

The global wealth management market is expected to grow from $1162.66 billion in 2020 to $1263.34 billion in 2021 at a compound annual growth rate (CAGR) of 8.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1755 billion in 2025 at a CAGR of 9%. Demand for professional wealth management services is the main driver of the market.

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Trends In The Global Wealth Management Market

Many wealth management companies are investing in big data analytics capabilities to generate insights to enhance and refine service offerings and thus increase revenues. Big data solutions are being implemented to deliver insights around client segments, product penetration and analyze training program effectiveness. These technologies are being implemented to assess existing and prospective clients’ inclination to purchase various products and services being offered by a wealth management company, their lifetime value, investment pattern and the ability of the client to take risks. They are also aiding wealth management companies to track business performance, increase client acquisition and retention rates, increase sales and offer real time investment advice. For instance, CargoMetrics, an investment firm based in Boston used Automatic Identification System (AIS), to collect data on commodity movement such as cargo location and cargo size to develop analytics platform for trading commodities, currencies and equity index funds. This tool was also sold to other hedge funds and wealth managers.

Global Wealth Management Market Segments:
The global wealth management market is further segmented based on type, advisory mode, enterprise size and geography.
By Type: Funds, Trusts, And Other Financial Vehicles, Asset Management, Portfolio Management and Investment Advice
By Advisory Mode: Human Advisory, Robo Advisory, Hybrid
By Enterprise Size: Large Enterprises, Medium and Small Enterprises
Sub segments Covered: Large-Cap Equity, Government Fixed Income And Structured Products, Equity Specialties And Fixed Income Products, ETFs And Passively-Managed Products, Alternatives, Solutions Products And Other (Target Date Products And LDIs)
By Geography: The global wealth management market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global wealth management market, accounting for 54% of the market in 2020.

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Wealth Management Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides wealth management market overviews, analyzes and forecasts market size and growth for the global wealth management market, wealth management market share, wealth management market players, wealth management market segments and geographies, wealth management market’s leading competitors’ revenues, profiles and market shares. The wealth management market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.