The global wealth management market is expected to decline from $486.78 billion in 2019 to $446.73 billion in 2020 at a rate of -8.2%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a rate of 9.4% from 2021 ad reach $584.99 billion in 2023.
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The wealth management market consists of sales of wealth management services by entities that plan, advise on and manage various kinds of assets belonging to high net worth and ultra-high net worth individuals, corporations, and government and non-government institutions. The market includes establishments that offer financial and investment advice, retirement planning and legal or estate planning.
Global Wealth Management Market Segmentation –
The Wealth Management market covered in this report is segmented
1) By type of asset class into equity, fixed income, alternative assets, and others
2) By advisory mode into human advisory, robo advisory, hybrid advisory
3) By type of wealth manager into private banks, full-service wealth managers, investment managers, stockbrokers, others
4) By enterprise size into large enterprises, medium and small enterprises5) by type of client into mass affluent, HNWI, pension funds, insurance companies, sovereign wealth funds
6) By service element into asset management, portfolio management and investment advisory, funds, trusts, and other financial vehicles
Global Wealth Management Market Drivers –
Going forward, increasing demand for alternative investments is expected to drive the market for wealth management. There has been an increasing preference for alternative investments among the high net worth individuals and ultra-high net worth individuals. Alternative investments are financial assets, which do not fall into the category of conventional financial assets, such as stocks, bonds, and cash.
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A Few Points From The Global Wealth Management Market ToC
1. Executive Summary
2. Wealth Management Market Characteristics
3. Wealth Management Market Size And Growth
3.1. Global Wealth Management Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Wealth Management Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Wealth Management Market Segmentation
5. Wealth Management Market Regional And Country Analysis
5.1. Global Wealth Management Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Wealth Management Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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