Growing number of HNWIs demanding highly customized solutions
DUBLIN, November 8, 2021 / PRNewswire / – The report “Wealth Management Market by Business Model, Vendor and End User Type: Global Opportunity Analysis and Industry Forecast, 2021-2030” has been added to ResearchAndMarkets.com offer.
Wealth Management is involved in providing specialist advisory services to meet the investment management needs of high net worth clients.
It maintains the confidentiality of client information obtained during financial planning and advisory services. The Wealth Management Advisor uses various financial disciplines such as finance and accounting, legal or estate planning, retirement planning, tax services, investment advice and others.
By offering several advantages such as reduced portfolio risk, diversification, low correlation with other assets and less regulation, the demand for alternative investments continues to increase in the market.
In addition, wealth managers are investing in new technologies such as artificial intelligence (AI), robotic process automation, robo-advisor and digital identification (ID) to improve customer experience, performance financial and operational efficiency.
Thus, the multiple advantages associated with advanced technologies contribute significantly to the growth of the global wealth management market. However, the strict government rules and regulations for wealth management companies and the lack of transparency of prices and higher fees are some of the factors hampering the growth of the market.
On the contrary, the growing number of high net worth individuals (HNWIs) demanding highly personalized wealth management solutions and increasing technological advancements are expected to provide lucrative opportunities for wealth managers to stay competitive and gain in-depth knowledge of the products and services offered. on the market.
The wealth management market is segmented into business model, vendor, end user type, and region. By business model, the market is separated into human consulting, robotic consulting, and hybrid consulting. The Robotics Consulting segment is further divided into Plan Based / Goal Based and Comprehensive Direct Wealth Consulting. Depending on the provider, it is segmented into FinTech advisers, banks, traditional wealth managers and others. Based on the type of end user, the market is divided into individuals and high net worth individuals (HNIs). At the regional level, the market is analyzed through North America, Europe, Asia Pacific, and LAMEA.
The report analyzes the profiles of major players operating in the wealth management market such as Bank of America Corporation, BNP Paribas, Charles Schwab & Co., Inc., Citigroup Inc., CREDIT SUISSE GROUP AG, Goldman Sachs, JPMorgan Chase & Co., Julius Baer Group, Morgan Stanley and UBS. These players have adopted various strategies to increase their market penetration and strengthen their position in the wealth management industry.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global wealth management market along with current trends and future estimates to illustrate impending pockets of investment.
- Information on key drivers, restraints, and opportunities and their analysis of impact on global wealth management market size is provided in the report.
- Porter’s Five Forces Analysis illustrates the power of buyers and suppliers operating in the industry.
- The quantitative analysis of the global wealth management market from 2021 to 2030 is provided to determine the market potential.
KEY MARKET SEGMENTS
By business model
- Human advice
- Robotics consulting
- Direct plan-based / goal-based
- Comprehensive heritage advice
- Hybrid advice
- FinTech Advisors
- Traditional wealth managers
By end user type
- High Net Worth Individuals (HNI)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Middle East
- Bank of America Corporation
- BNP Paribas
- Charles Schwab & Cie Inc.
- Citigroup Inc.
- CREDIT SUISSE GROUP SA
- Goldman Sachs
- JPMorgan Chase & Co.
- Julius Baer Group
- Morgan stanley
For more information on this report, visit https://www.researchandmarkets.com/r/u6wo8k
Research and markets
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SOURCE Research and Markets