Wealth Management - BRICS

BRICS

In 2024, the Assets under Management (AUM) in the Wealth Management market of BRICS countries are projected to reach a staggering US$2,734.00bn.
Among the various segments in this market, Financial Advisory is expected to dominate with a projected market volume of US$2,539.00bn in the same year.
Looking ahead, the AUM is anticipated to display an annual growth rate of 4.62% (CAGR 2024-2028), resulting in a substantial increase to US$3,275.00bn by 2028.
This demonstrates the significant growth potential within the Wealth Management market in BRICS countries.
Brazil's wealth management industry is experiencing a surge in demand due to the growing number of high-net-worth individuals seeking professional advice and guidance for their financial portfolios.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Wealth Management market in BRICS is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory.

Customer preferences in the Wealth Management market in BRICS are evolving. Clients are increasingly seeking personalized and tailored investment solutions that align with their financial goals and risk appetite. They are also placing a greater emphasis on sustainable and socially responsible investment options.

This shift in preferences is driving the demand for innovative wealth management products and services that cater to these specific needs. Trends in the market reflect the changing dynamics of the BRICS economies. Brazil, Russia, India, China, and South Africa are all experiencing rapid urbanization and a growing middle class.

This has led to an increase in disposable income and a greater need for wealth management services. Additionally, advancements in technology have made it easier for individuals to access and manage their investments, leading to the rise of digital wealth management platforms and robo-advisors. Local special circumstances in each BRICS country also play a role in the development of the Wealth Management market.

Brazil, for example, has a large population of high-net-worth individuals who are seeking professional advice to manage their wealth. Russia, on the other hand, has a strong tradition of private banking and wealth preservation. India's wealth management market is driven by a young and tech-savvy population, while China's market is influenced by its growing middle class and increasing interest in overseas investments.

South Africa's market is characterized by a diverse client base and a focus on sustainable investing. Underlying macroeconomic factors are also contributing to the growth of the Wealth Management market in BRICS. Economic stability, favorable investment climate, and government reforms are all attracting both domestic and foreign investors.

Additionally, low interest rates and the need for diversification are driving individuals to seek professional wealth management services to maximize their returns. In conclusion, the Wealth Management market in BRICS is developing at a rapid pace due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the economies of Brazil, Russia, India, China, and South Africa continue to grow, the demand for wealth management services is expected to increase, presenting opportunities for both domestic and international wealth management firms.

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).