Wealth Management

Assets under Management in the Wealth Management market are projected to reach US$3.83bn in 2024.
Financial Advisory dominates the market with a projected market volume of US$3.39bn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 1.34%, resulting in a market volume of US$4.09bn by 2029.

Definition:

Wealth management is a service provided by financial institutions, such as banks or investment firms, to help individuals manage their money and investments. The goal of wealth management is to help people grow and protect their wealth over time, by creating personalized investment plans that consider their financial goals, risk tolerance, and overall financial situation. This goal ultimately emphasizes wealth creation through wealth preservation.

Structure:

The Wealth Management market consists of two different segments, Financial Advisory and Digital Investment. Financial Advisory covers traditional financial advisory services and provides a broader look into the revenue generated by this offering. Digital Investment contains automated investment services (Robo-Advisors) and online trading services (Neobrokers) that go beyond the means of traditional financial advisory services.

Additional information:

The market comprises of revenues, number of advisors, average revenue per advisor, assets under management (AUM), users, average revenue per user, and average AUM per user. Revenues are generated through the financial advisory services offered by the financial institutions within the Wealth Management market space. The market only displays B2C revenues and users for the above-mentioned segments and subsegments; B2B and B2G revenues are not included. Additional definitions for each segment can be found on the respective segment pages.
Market numbers for Digital Investment are also featured among our digital markets, namely in the Digital Investment segment of the Fintech market.
Key players in the market include financial institutions such as BlackRock, Vanguard Group, Fidelity Investments, State Street Global, and J.P. Morgan Chase & Co.

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Traditional & Digital Wealth Management (non-automated & automated wealth management services)
Traditional Investment, incl. Financial Advisors
Banks, Financial Institutions, and Financial Services Companies
Digital Investment, incl. Robo-advisors and Neobrokers
Full-Service Products for Investing and Trading
Retail/Non-Professional Investors

Commercial Assets or Assets Under Custody
Independent Financial Advisory Companies
Independent Financial Advisors (IFAs)
Full-Service Products for Insurance and Lending

The Wealth Management market in Bolivia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Wealth Management market in Bolivia have been shifting towards more personalized and holistic financial solutions.

Bolivian investors are increasingly seeking wealth management services that go beyond traditional investment advice and include comprehensive financial planning, tax optimization, and estate planning. This shift in customer preferences is driven by a growing awareness of the importance of long-term financial planning and the desire for professional guidance in managing their wealth. Trends in the market reflect the increasing demand for digital wealth management solutions in Bolivia.

The rise of digital platforms and robo-advisors has made wealth management services more accessible and affordable for a wider range of investors. These platforms provide automated investment advice and portfolio management based on algorithms and data analysis, allowing investors to access wealth management services without the need for a dedicated financial advisor. This trend is particularly appealing to younger investors who are tech-savvy and prefer the convenience and transparency offered by digital platforms.

Local special circumstances in Bolivia, such as a growing middle class and an expanding economy, have contributed to the development of the Wealth Management market. As the country's economy continues to grow, more individuals are accumulating wealth and seeking professional guidance on how to manage and grow their assets. Additionally, the middle class is expanding, creating a larger pool of potential clients for wealth management firms.

These local circumstances have created a favorable environment for the growth of the Wealth Management market in Bolivia. Underlying macroeconomic factors, such as stable economic growth, low inflation, and favorable government policies, have also played a role in the development of the Wealth Management market in Bolivia. A stable and growing economy provides a solid foundation for individuals to accumulate wealth, while low inflation helps to preserve the value of their assets.

Furthermore, favorable government policies, such as tax incentives for long-term investments and the promotion of financial literacy, have encouraged individuals to seek professional wealth management services. In conclusion, the Wealth Management market in Bolivia is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Bolivian investors are increasingly seeking personalized and holistic financial solutions, driving the demand for wealth management services.

The rise of digital platforms and robo-advisors has made wealth management more accessible and affordable for a wider range of investors. Local special circumstances, such as a growing middle class and an expanding economy, have created a favorable environment for the development of the Wealth Management market. Finally, stable economic growth, low inflation, and favorable government policies have contributed to the growth of the market by providing a solid foundation for wealth accumulation and encouraging individuals to seek professional guidance.

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).

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

Private wealth management has developed significantly in recent years as a result of the growth of affluence worldwide. The number of millionaires in North America more than doubled between 2010 and 2022. A similar trend can be observed in the Asia-Pacific and Europe. The total wealth of the adult population in Europe has steadily increased since 2010. Private Wealth Management is an increasingly important service as the rate of wealth continues to increase among the general population and affluent high-net-worth-individuals. Coupled with the recent developments in the Fintech market, this has helped to open up new Private Wealth Management products and services to people with smaller amounts of disposable income and expanding services offered to larger clients.