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Global Wealth Management Services Market Size, Share, Growth, Revenue, Demand, Segments and Forecast 2027

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Nov 10, 2021 (Market Insight Reports) — According to the research report titled ‘Global wealth management services market Size study with COVID Impact, By Advisory Model (Human advisory, Robo advisory, Hybrid) By Business Function (Financial advice management, Portfolio, accounting, and trading management, Performance management, Risk and compliance management, Reporting, Others (billing and benchmarking)) By Deployment Model (Cloud, On-premises) By End-User Industry (Banks, Investment management firms, Trading and exchange firms, Brokerage firms, Others (asset management firms, and custody and compliance providers)and Regional Forecasts 2020-2027’, available with Market Study Report, global wealth management services market was worth USD 2 billion in 2019 and is projected to grow with a CAGR of 13.4% through 2027.

Expansion of businesses, numerous joint ventures, mergers & acquisitions, and other inorganic strategies are majorly expected to drive global wealth management services market during the forecast period. Wealth management involves financial planning, investment portfolio management strategy, and various other financial services used by individuals having high net worth, small business owners, and families that require guidance from a credential financial advisor.

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Further, rapid adoption of cloud technology for its advantages such as scalability, agility, flexible payment options, reduced operating costs, easy data access, and self-service capabilities is creating appealing opportunities for global wealth management services market players. On the downside, trust being the main factor among the companies and its clients, the recent economic slowdown has majorly hit the clients, restraining global wealth management services market remuneration.

Based on end-user scope, global wealth management services market is segmented into brokerage firms, investment management firms, banks, trading & exchange firms, and others. With regards to business function, the industry is bifurcated into risk & compliance management, financial advice management, portfolio, accounting, & trading management, performance management, reporting, and others. As per advisory model, the industry is segmented into human advisory, hybrid, and robo advisory. The deployment model includes cloud and on-premises.

From regional perspective, North America wealth management services market is likely to witness momentous growth over 2020-2027, mainly due to adoption of fee compression strategies among leading companies and charging the clients for asset and wealth management solutions. Meanwhile, Asia Pacific market is also anticipated to grow rapidly through 2027, owing to high technological penetration to leverage rising economic status of the region.

Major players operating in global wealth management services marketplace include Broadridge Financial Solution India Pvt. Ltd., FIS Global Business Solutions India Pvt. Ltd., Finacrest Wealth Pvt. Ltd, BNP Paribas Asset Management India Private Limited, Karvy Corporate, Temenos India Pvt. Ltd., Fiserv India Pvt. Ltd., SEI Technology Services India Private Limited, and Finantix S.p.A.

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