Global Wealth Management Market Projected to Reach US$2.92 Trillion by 2029 Amidst Technological Revolution and Shifting Investor Preferences - ResearchAndMarkets.com

The "Global Wealth Management Market: Analysis By Advisory Mode, By Channel, By Enterprise Size, By Region Size and Trends with Impact of COVID-19 and Forecast up to 2029" report has been added to ResearchAndMarkets.com's offering.

The realm of wealth management is experiencing significant growth and transformation, with projections indicating an ascent to a market value of US$2.92 trillion by the close of 2029.

This expansion reflects an average compound annual growth rate (CAGR) of approximately 8% from 2024 to 2029, underpinned by a host of drivers reshaping the industry, from demographic changes to technological advancements.

Market Segmentation and Trends

The wealth management sector demonstrates vigor across its various components. Human advisory services currently command the largest segment share. However, a marked surge in robo-advisory is anticipated due to its cost-effectiveness and digital-native appeal.

By channel, wirehouses persist as dominant players, though the landscape is rapidly evolving with Registered Investment Advisors (RIAs) forging ahead, particularly buoyed by an increasing demand for personalized, fiduciary advice.

Large enterprises continue to utilize wealth management services significantly, considering their intricate financial structures and diverse stakeholder requirements. Nonetheless, Small & Medium Enterprises (SMEs) are increasingly recognizing the necessity for similar services to navigate their growth trajectories effectively.

Regionally, North America stands at the forefront of the wealth management market. European markets are also flourishing, with private equity's involvement enhancing business models. Simultaneously, Asia Pacific regions like China and India are experiencing robust growth, fueled by a burgeoning wealthy demographic and an industry pivot towards advisory-centric models.

Market Dynamics and Competitive Landscape

A constellation of factors propels the wealth management market forward, including the rising number of ultra-high-net-worth individuals and a growing affinity for robo-advisors. The rise of independent RIAs fosters innovation and personalization, contributing significantly to the sector's expansion.

Despite headwinds such as regulatory hurdles and cybersecurity risks, the market is buoyed by a positive outlook with trends like Environmental, Social, and Governance (ESG) investing and a heightened focus on wealth-as-a-service infrastructures taking center stage. The competitive landscape features a broad spectrum of entities, from iconic full-service financial institutions to agile digital platforms.

Collectively, these organizations cater to a diverse and evolving client base, continually adapting to industry trends, such as the pronounced migration from wirehouses to independent channels.

The progression towards a value of US$2.92 trillion by 2029 underscores the sector's adaptability and the ongoing shifts in how high-net-worth individuals and families approach their wealth preservation and growth strategies in a rapidly changing world.

Companies Featured

• UBS Group
• Morgan Stanley
• Bank of America
• JPMorgan Chase & Co.
• The Goldman Sachs Group, Inc.
• Wells Fargo & Company
• Citigroup
• BNP Paribas Group
• BlackRock, Inc.
• The Charles Schwab Corporation
• Northern Trust Corporation
• Julius Baer Group

Key Topics Covered:

Global Market Analysis

• Global Wealth Management Market Analysis
• Global Wealth Management Market Advisory Mode Analysis
• Global Wealth Management Market Channel Analysis
• Global Wealth Management Market Enterprise Size Analysis

Regional Market Analysis

• North America Wealth Management Market Analysis
• Europe Wealth Management Market Analysis
• Asia Pacific Wealth Management Market Analysis
• Rest of World Wealth Management Market Analysis

Market Dynamics

Growth Drivers

• Increasing Number of Ultra-High-Net-Worth Individuals
• Accelerating Shift Towards RIA Channel
• Increasing Alternative Assets Under Management
• Growing Internet Penetration Rate
• Economic Expansion
• Growing Customization
• Accelerating Growth in Wealth Management Loans

Challenges

• Regulatory Compliance
• Cybersecurity Risks
• Market Volatility

Market Trends

• ESG as a Method of Investing
• Consolidation Amongst RIAs
• Growing Shift Towards Robo-Advisors
• Growing Intergenerational Wealth Transfer
• Increasing Demand for Outsourcing
• Embracing Wealth-as-a-Service Infrastructures
• Increasing Investment in Big Data Analytics
• Recent Technological Advancements
• Integration of AI, Machine Learning, and Automation

Competitive Landscape

• Global Wealth Management Market: Competitive Landscape
• Global Wealth Management Market Players: Advisor Net Wins/(Losses)
• Global Wealth Management Market: Advisory vs. Brokerage Assets
• Global Wealth Management Players by Market Share
• The US Retail Wealth Management Players by Market Share
• The US RIA Custodians Players by Market Share
• The US Robo Advisors Players by Market Share

For more information about this report visit https://www.researchandmarkets.com/r/hdgnzf

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