Market Insights Financial Wealth Management

Financial Advisory - Italy

Italy

In Italy, the Financial Advisory market is expected to witness significant growth in the coming years.
According to projections, the assets under management in this market are estimated to reach a staggering US$2.04tn by the year 2024.
Furthermore, it is anticipated that there will be a steady annual growth rate of 0.85% between 2024 and 2028, leading to a market volume of US$2.11tn by the end of 2028.
These figures demonstrate the immense potential and promising future of the Financial Advisory market sector in Italy.
Italy's financial advisory market is witnessing a surge in demand for personalized, holistic wealth management solutions.

Key regions: United States, Singapore, Europe, Switzerland, Canada

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Analyst Opinion

The Financial Advisory market in Italy has seen significant development and growth in recent years.

Customer preferences: Italian customers have shown a strong preference for personalized financial advice and guidance. They value the expertise and knowledge of financial advisors in navigating complex financial markets and making informed investment decisions. Additionally, Italian customers prioritize trust and long-term relationships with their advisors, seeking professionals who can provide ongoing support and guidance throughout their financial journey.

Trends in the market: One notable trend in the Italian Financial Advisory market is the increasing demand for sustainable and socially responsible investments. Italian investors are becoming more conscious of the environmental and social impact of their investments and are seeking advisors who can help them align their financial goals with their values. This trend is driven by a growing awareness of sustainability issues and the desire to contribute to a more sustainable future. Another trend in the market is the rise of digitalization. Italian customers are increasingly using online platforms and digital tools to access financial advice and manage their investments. This trend has been accelerated by the COVID-19 pandemic, which has highlighted the importance of remote and digital services. Financial advisory firms in Italy are adapting to this trend by investing in digital capabilities and offering online advisory services to meet the evolving needs of their customers.

Local special circumstances: Italy has a unique financial landscape characterized by a large number of small and medium-sized enterprises (SMEs). These companies often require specialized financial advice and support, particularly in areas such as funding and capital raising. Financial advisors in Italy play a crucial role in helping SMEs navigate the complex financial ecosystem and access the necessary resources to grow and thrive.

Underlying macroeconomic factors: The development of the Financial Advisory market in Italy is influenced by several macroeconomic factors. One key factor is the low interest rate environment, which has driven investors to seek alternative investment options in order to generate higher returns. Financial advisors play a crucial role in helping investors identify suitable investment opportunities and manage the associated risks. Another macroeconomic factor is the aging population in Italy. As the population ages, there is an increasing need for retirement planning and wealth management services. Financial advisors are well-positioned to provide guidance on retirement savings, investment strategies, and estate planning to help individuals secure their financial future. Overall, the Financial Advisory market in Italy is experiencing growth and transformation driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The demand for personalized advice, sustainable investments, and digital services is shaping the market landscape, while the unique financial needs of SMEs and the aging population provide opportunities for advisors to add value and support economic growth.

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).