Market Insights Financial Wealth Management

Financial Advisory - Mauritius

Mauritius

In Mauritius, the Financial Advisory market is anticipated to witness a substantial increase in Assets under Management, with projections indicating a rise to US$0.84bn by the year 2024.
Furthermore, there is an expected annual growth rate (CAGR 2024-2028) of 0.59%, which would lead to a market volume of US$0.86bn by 2028.
The demand for financial advisory services in Mauritius has surged due to the growing number of high-net-worth individuals seeking professional guidance for wealth management.

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

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Analyst Opinion

The Financial Advisory market in Mauritius is experiencing significant growth and development, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Financial Advisory market in Mauritius are shifting towards more personalized and comprehensive services.

Clients are increasingly seeking advice and guidance that is tailored to their specific financial goals and objectives. They value advisors who can provide holistic financial planning, including investment advice, retirement planning, tax planning, and estate planning. This preference for comprehensive services is driving the demand for Financial Advisory firms that can offer a wide range of expertise and solutions.

Trends in the Financial Advisory market in Mauritius are also contributing to its growth and development. One major trend is the increasing adoption of technology and digital platforms. Financial Advisory firms are leveraging technology to streamline their operations, enhance client communication, and provide online access to financial information and services.

This trend is driven by the growing demand for convenience and accessibility, as well as the need for cost-effective solutions. Additionally, the rise of robo-advisors is reshaping the market by offering automated investment advice and portfolio management services to a wider range of clients. Another trend in the Financial Advisory market in Mauritius is the growing interest in sustainable and socially responsible investing.

Clients are increasingly concerned about the environmental and social impact of their investments, and they are seeking advisors who can help them align their financial goals with their values. This trend is driven by a global shift towards sustainable practices and increased awareness of environmental and social issues. Local special circumstances also play a role in the development of the Financial Advisory market in Mauritius.

The country's status as a financial hub and its favorable tax and regulatory environment attract international investors and businesses. This has created a demand for Financial Advisory services to navigate the complexities of cross-border investments and transactions. Additionally, the growing middle class in Mauritius is seeking professional financial advice to manage their wealth and plan for their future.

Underlying macroeconomic factors are also contributing to the growth of the Financial Advisory market in Mauritius. The country's stable political environment, strong legal framework, and well-regulated financial sector provide a conducive environment for the industry to thrive. Furthermore, the government's initiatives to promote Mauritius as a financial center and attract foreign investment are driving the demand for Financial Advisory services.

In conclusion, the Financial Advisory market in Mauritius is developing rapidly due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards personalized and comprehensive services, the adoption of technology, the focus on sustainable investing, and the country's status as a financial hub are all contributing to the growth and development of 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).