Key regions: United States, Singapore, Europe, Switzerland, Canada
The Financial Advisory market in Jordan has been experiencing significant growth and development in recent years.
Customer preferences: Customers in Jordan have shown a growing interest in seeking financial advisory services to help them navigate the complex and ever-changing financial landscape. They are increasingly looking for professional guidance and expertise to make informed decisions about their investments and financial planning. This shift in customer preferences can be attributed to several factors, including increased awareness about the importance of financial planning, the desire for personalized advice tailored to individual needs, and the need to mitigate financial risks in an uncertain economic environment.
Trends in the market: One of the key trends in the Financial Advisory market in Jordan is the rise of independent financial advisory firms. These firms offer a wide range of services, including investment advice, retirement planning, tax planning, and estate planning. They are often seen as more objective and unbiased compared to traditional banks and financial institutions, which may have a vested interest in promoting their own products. Independent financial advisors are able to provide personalized advice and develop customized financial plans based on the unique needs and goals of their clients. Another trend in the market is the growing popularity of robo-advisory services. Robo-advisors are online platforms that use algorithms to provide automated investment advice and portfolio management. They are gaining traction among tech-savvy investors who prefer a low-cost and convenient way to manage their investments. Robo-advisory services are particularly appealing to younger investors who are comfortable with technology and value accessibility and transparency.
Local special circumstances: The Financial Advisory market in Jordan is also influenced by local special circumstances. The country has a relatively young population, with a significant portion of the population under the age of 30. This demographic trend presents both opportunities and challenges for financial advisors. On one hand, there is a growing need for financial planning and investment advice among young professionals who are starting to accumulate wealth. On the other hand, there is a need to educate and engage with this younger demographic, who may have different preferences and expectations compared to older generations.
Underlying macroeconomic factors: Several underlying macroeconomic factors have contributed to the development of the Financial Advisory market in Jordan. The country has a stable and growing economy, with a strong financial sector. The government has implemented reforms to improve the business environment and attract foreign investment, which has led to increased economic activity and created wealth for individuals and businesses. Additionally, the low interest rate environment has made traditional savings and investment products less attractive, prompting individuals to seek alternative investment options and financial advice. In conclusion, the Financial Advisory market in Jordan is experiencing growth and development driven by changing customer preferences, the rise of independent financial advisory firms, the popularity of robo-advisory services, local special circumstances, and underlying macroeconomic factors. As individuals and businesses in Jordan seek professional guidance and expertise to navigate the financial landscape, the demand for financial advisory services is expected to continue to grow in the coming years.
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).
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