Wealth Management

Assets under Management in the Wealth Management market are projected to reach US$59.59bn in 2024.
Financial Advisory dominates the market with a projected market volume of US$54.26bn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 0.54%, resulting in a market volume of US$61.23bn 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 Czechia has experienced steady growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Czechia, located in Central Europe, has a well-developed financial sector and a growing affluent population, which has contributed to the expansion of the Wealth Management market in the country.

Customer preferences in Czechia have shifted towards seeking professional advice and personalized solutions for their wealth management needs. As the financial market becomes more complex and volatile, individuals are increasingly relying on wealth management professionals to help them navigate investment options and achieve their financial goals. This preference for expert guidance has led to an increase in demand for wealth management services in Czechia.

Trends in the market reflect the changing landscape of wealth management in Czechia. One notable trend is the rise of digital wealth management platforms. These platforms offer convenient access to investment products and services, allowing individuals to manage their wealth online.

The adoption of digital platforms has been driven by the tech-savvy younger generation, who are comfortable using technology to manage their finances. As a result, wealth management firms in Czechia are investing in digital capabilities to cater to this growing segment of the market. Another trend in the Wealth Management market in Czechia is the focus on sustainable and socially responsible investments.

As awareness of environmental and social issues grows, individuals are increasingly seeking investment opportunities that align with their values. Wealth management firms in Czechia are responding to this demand by offering sustainable investment options and integrating environmental, social, and governance (ESG) factors into their investment strategies. Local special circumstances in Czechia have also contributed to the development of the Wealth Management market.

The country has a strong tradition of saving and investing, with a high savings rate among its population. This savings culture, coupled with a stable economy and a favorable regulatory environment, has created a conducive environment for the growth of the Wealth Management market. Underlying macroeconomic factors, such as GDP growth and income levels, have also played a role in the development of the Wealth Management market in Czechia.

As the economy expands and incomes rise, individuals have more disposable income to invest and are seeking professional wealth management services to help them grow and protect their wealth. In conclusion, the Wealth Management market in Czechia is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards seeking professional advice, the rise of digital wealth management platforms, the focus on sustainable investments, the savings culture, and the favorable macroeconomic environment have all contributed to the expansion of the Wealth Management market in Czechia.

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.