Definition:
Financial advisory is the process of providing guidance and recommendations to clients regarding their financial decisions. Financial advisors use their expertise and knowledge to help clients make informed decisions about their investments, retirement planning, taxes, insurance, and other financial matters. The Financial Advisory segment encompasses the revenues generated by this service by both financial institutions and advisors, and includes the number of financial advisors, average revenue per advisor, and assets under management (AUM).
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
The Financial Advisory market in Greece has experienced significant development and growth in recent years.
Customer preferences: Customers in Greece are increasingly seeking professional financial advice to help them navigate the complex financial landscape. With the increasing complexity of financial products and services, individuals and businesses are turning to financial advisors for guidance and expertise. This trend is driven by the desire for personalized and tailored financial solutions that meet their specific needs and goals. Additionally, customers are placing greater emphasis on transparency and trust when choosing a financial advisor. They want to work with professionals who have a strong track record and can provide unbiased advice.
Trends in the market: One of the key trends in the Financial Advisory market in Greece is the growing demand for investment advice. As the economy continues to recover from the financial crisis, individuals and businesses are looking for opportunities to grow their wealth. Financial advisors are playing a crucial role in helping clients identify investment opportunities and develop strategies to achieve their financial goals. Additionally, there is a growing trend towards sustainable and socially responsible investing. Customers are increasingly interested in investing in companies that align with their values and have a positive impact on society and the environment. Another trend in the market is the increasing use of technology in the delivery of financial advisory services. Digital platforms and robo-advisors are gaining popularity, particularly among younger customers who are comfortable with technology and prefer a more automated and cost-effective approach. These platforms provide access to a wide range of investment options and allow customers to track their investments in real-time. However, traditional financial advisors still play a crucial role in providing personalized advice and building long-term relationships with clients.
Local special circumstances: Greece has a unique set of circumstances that have influenced the development of the Financial Advisory market. The country has a high level of household debt and a significant number of non-performing loans. As a result, individuals and businesses are seeking professional advice to help them manage their debt and improve their financial situation. Financial advisors are helping clients develop debt repayment plans, negotiate with creditors, and explore debt consolidation options. Additionally, the Greek pension system has undergone significant reforms in recent years, creating a need for retirement planning and pension advice.
Underlying macroeconomic factors: The development of the Financial Advisory market in Greece is also influenced by underlying macroeconomic factors. The country has been experiencing a period of economic recovery, with improving GDP growth and declining unemployment rates. As the economy improves, individuals and businesses have more disposable income and are more willing to invest in financial products and services. Additionally, the low interest rate environment has created a need for alternative investment options, driving demand for financial advisory services. The ongoing digitization of the financial sector is also playing a role in the development of the market, as customers increasingly expect convenient and accessible financial services.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
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).Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights