Wealth Management - Denmark

Denmark

In Denmark, the Wealth Management market is anticipated to witness a significant growth in the coming years.
It is projected that the Assets under Management in this market will reach a staggering US$794.40bn by the year 2024.
Among the various segments, Financial Advisory is expected to dominate the market, with a projected market volume of US$790.70bn in the same year.
Looking ahead, the Assets under Management are forecasted to exhibit a steady annual growth rate (CAGR 2024-2028) of 1.15%.
This growth is expected to result in a market volume of US$831.70bn by the year 2028.
These numbers highlight the promising future of the Wealth Management market in Denmark, showcasing its potential for continued expansion and prosperity.
Denmark's wealth management market is characterized by a strong emphasis on sustainability and socially responsible investing.

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

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Analyst Opinion

The Wealth Management market in Denmark has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Wealth Management market in Denmark have shifted towards more personalized and holistic services.

Wealthy individuals in Denmark are increasingly seeking out comprehensive wealth management solutions that go beyond traditional investment advice. They are looking for services that can help them with financial planning, tax optimization, estate planning, and philanthropy. This shift in customer preferences is driven by a desire for a more integrated approach to managing their wealth and achieving their financial goals.

Trends in the market indicate a growing demand for sustainable and socially responsible investment options. Danish investors are increasingly conscious of the environmental and social impact of their investments and are seeking out wealth management solutions that align with their values. This trend is driven by a combination of factors, including increased awareness of climate change and social issues, as well as regulatory initiatives promoting sustainable finance.

Wealth management firms in Denmark are responding to this trend by offering a range of sustainable investment products and integrating environmental, social, and governance (ESG) factors into their investment strategies. Local special circumstances in Denmark also contribute to the development of the Wealth Management market. Denmark has one of the highest levels of wealth per adult in the world, creating a large market for wealth management services.

The country also has a well-developed financial sector, with a strong regulatory framework and a high level of transparency. These factors attract both domestic and international wealth management firms to establish a presence in Denmark. Underlying macroeconomic factors also play a role in the development of the Wealth Management market in Denmark.

The country has a stable and prosperous economy, with a high standard of living and a well-functioning welfare state. This provides a favorable environment for wealth creation and investment. Additionally, Denmark has a strong tradition of saving and long-term financial planning, which contributes to the demand for wealth management services.

In conclusion, the Wealth Management market in Denmark is developing in response to changing customer preferences, emerging trends in the market, and local special circumstances. The shift towards personalized and holistic services, the demand for sustainable and socially responsible investment options, the high level of wealth in the country, and the stable macroeconomic environment all contribute to the growth of the market. Wealth management firms in Denmark are adapting their offerings to meet these evolving needs and capitalize on the opportunities presented by the market.

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).