Wealth Management - Bangladesh

Bangladesh

Assets under Management in the Wealth Management market are projected to reach US$17.63bn in 2024.
Financial Advisory dominates the market with a projected market volume of US$13.76bn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 4.16%, resulting in a market volume of US$21.61bn by 2029.

Key regions: United States, United Kingdom, Germany, Hong Kong, Singapore

Market

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Analyst Opinion

The Wealth Management market in Bangladesh is experiencing significant growth and development.

Customer preferences: Customers in Bangladesh are increasingly seeking professional advice and services to manage their wealth. They are looking for personalized and tailored solutions that can help them achieve their financial goals. With a growing middle class and an increasing number of high-net-worth individuals, there is a greater demand for wealth management services in the country.

Trends in the market: One of the key trends in the Wealth Management market in Bangladesh is the shift towards digital platforms. As technology continues to advance, customers are becoming more comfortable with online and mobile banking services. This has led to the emergence of digital wealth management platforms that offer convenience and accessibility to customers. Additionally, there is a growing trend of sustainable and socially responsible investing in Bangladesh. Customers are increasingly interested in investing in companies that have a positive impact on society and the environment.

Local special circumstances: Bangladesh is a densely populated country with a large young population. This demographic dividend presents both opportunities and challenges for the Wealth Management market. On one hand, there is a growing number of individuals who are entering the workforce and accumulating wealth. On the other hand, there is a need to educate and raise awareness about the importance of wealth management among the younger generation.

Underlying macroeconomic factors: The economic growth in Bangladesh has been robust in recent years, which has contributed to the development of the Wealth Management market. The country has experienced a steady increase in per capita income and a reduction in poverty levels. This has resulted in a larger pool of potential customers who are looking for wealth management services. Additionally, the government has implemented various reforms to improve the business environment and attract foreign investment. These factors have created a favorable environment for the growth of the Wealth Management market in Bangladesh.

Methodology

Data coverage:

The data encompasses B2C enterprises. The figures are based on gross revenues, assets under management, and user & advisor data of relevant services and products offered within the Wealth Management market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research activities (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as: GDP, gross national income (GNI), consumer spending, total investment (% of GDP), high income (% of population), and number of high-net-worth individuals (HNWI). This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).