Financial Advisory - Mexico | Statista Market Forecast

Assets under Management in the Financial Advisory market are projected to reach US$176.60bn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 0.44%, resulting in a market volume of US$180.60bn by 2029.

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).

Traditional Wealth Management (non-automated wealth management services)
Traditional Investment, incl. Financial Advisors
Banks, Financial Institutions, and Financial Services Companies
B2C & B2B Revenues
Full-Service Products for Insurance, Investing, Lending, and Trading

Commercial Assets or Assets Under Custody
Digital Wealth Management (automated wealth management services)
Digital Investment, incl. Robo-advisors and Neobrokers
Independent Financial Advisory Companies
Independent Financial Advisors (IFAs)
Retail/Non-Professional Investors

The Financial Advisory market in Mexico has been experiencing significant growth in recent years, driven by several key factors. Customer preferences in the Financial Advisory market in Mexico have evolved to reflect a growing demand for personalized and holistic financial advice.

Clients are increasingly seeking tailored solutions that address their specific financial needs and goals. This shift in customer preferences has led to a rise in the demand for comprehensive financial planning services, including retirement planning, investment management, and estate planning. Additionally, clients are placing greater importance on transparency and fee structure, leading to a rise in fee-based advisory services.

Trends in the market indicate a growing adoption of technology and digital platforms. Financial advisory firms are leveraging technology to streamline their operations, enhance client engagement, and improve the delivery of financial advice. Online platforms and mobile applications are being used to provide clients with real-time access to their financial information, investment portfolios, and personalized recommendations.

This trend is driven by the increasing digital literacy among clients and the convenience of accessing financial advice anytime, anywhere. Local special circumstances in Mexico, such as a large and growing middle class, have contributed to the development of the Financial Advisory market. As more individuals accumulate wealth and seek to grow their assets, the demand for professional financial advice has increased.

Additionally, Mexico's aging population has created a need for retirement planning and wealth management services, further driving the growth of the Financial Advisory market. Underlying macroeconomic factors have also played a role in the development of the Financial Advisory market in Mexico. The country's stable economic growth, low inflation, and favorable interest rate environment have provided a conducive backdrop for individuals to invest and seek financial advice.

Furthermore, regulatory reforms aimed at enhancing investor protection and increasing transparency have instilled confidence in the market, attracting more clients to seek professional financial advice. In conclusion, the Financial Advisory market in Mexico is experiencing growth due to evolving customer preferences, the adoption of technology, local special circumstances, and favorable macroeconomic factors. As the market continues to develop, financial advisory firms will need to adapt to these trends and provide innovative solutions to meet the changing needs of clients.

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).

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

Private wealth management has developed significantly in recent years as a result of the growth of affluence worldwide. The number of millionaires in North America more than doubled between 2010 and 2022. A similar trend can be observed in the Asia-Pacific and Europe. The total wealth of the adult population in Europe has steadily increased since 2010. Private Wealth Management is an increasingly important service as the rate of wealth continues to increase among the general population and affluent high-net-worth-individuals. Coupled with the recent developments in the Fintech market, this has helped to open up new Private Wealth Management products and services to people with smaller amounts of disposable income and expanding services offered to larger clients.