Wealth Management

Assets under Management in the Wealth Management market are projected to reach US$1.30bn in 2024.
Financial Advisory dominates the market with a projected market volume of US$1.07bn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 3.65%, resulting in a market volume of US$1.55bn 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 Cambodia is experiencing significant growth and development.

Customer preferences: Cambodian customers are increasingly seeking professional wealth management services to help them grow and protect their assets. This is driven by a growing middle class, rising income levels, and a desire for financial security. Customers are looking for personalized investment advice, access to a wide range of investment products, and convenient digital platforms to manage their wealth.

Trends in the market: One of the key trends in the Cambodian wealth management market is the increasing adoption of digital platforms. With the rapid growth of internet penetration and smartphone usage in the country, customers are demanding digital solutions that provide convenience and accessibility. Wealth management firms are responding to this trend by offering online platforms for account management, investment tracking, and financial planning. Another trend in the market is the growing demand for sustainable and socially responsible investments. Cambodian customers are becoming more conscious of the environmental and social impact of their investments and are seeking wealth management firms that can provide them with sustainable investment options. This trend is aligned with the global shift towards responsible investing and presents an opportunity for wealth management firms to differentiate themselves in the market.

Local special circumstances: Cambodia has a young and dynamic population, with a median age of 25. 5 years. This demographic profile presents both opportunities and challenges for the wealth management market. On one hand, the young population represents a potential customer base that is open to adopting new technologies and investment strategies. On the other hand, the lack of financial literacy and experience among young Cambodians may pose challenges in terms of educating and engaging them in wealth management services.

Underlying macroeconomic factors: Cambodia has been experiencing robust economic growth in recent years, driven by sectors such as tourism, manufacturing, and construction. This has resulted in an increase in disposable income and wealth accumulation among Cambodians. As individuals accumulate wealth, they are seeking professional wealth management services to help them manage and grow their assets. Additionally, the government's efforts to promote financial inclusion and develop the capital market are also contributing to the growth of the wealth management market in Cambodia. In conclusion, the Wealth Management market in Cambodia is developing rapidly due to changing customer preferences, such as the demand for digital platforms and sustainable investments. The young and dynamic population, along with the country's strong economic growth, are also key factors driving the growth of the market. Wealth management firms in Cambodia need to adapt to these trends and special circumstances in order to capitalize on the opportunities presented by this growing market.

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.