Financial Advisory - Morocco | Statista Market Forecast

Assets under Management in the Financial Advisory market are projected to reach US$23.78bn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 0.61%, resulting in a market volume of US$24.51bn 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 Morocco has been experiencing significant growth in recent years.

Customer preferences: Customers in Morocco have shown a growing interest in seeking financial advice and guidance. This can be attributed to several factors, including increased awareness about the importance of financial planning and the desire to maximize investment returns. Additionally, the growing middle class in Morocco has led to an increase in disposable income, which has further fueled the demand for financial advisory services.

Trends in the market: One of the key trends in the Financial Advisory market in Morocco is the shift towards more personalized and tailored advice. Customers are increasingly seeking advisors who can provide customized solutions that meet their specific financial goals and objectives. This trend is driven by the recognition that a one-size-fits-all approach may not be suitable for everyone's unique financial situation. As a result, financial advisory firms in Morocco are investing in technology and data analytics to better understand their clients and provide more personalized recommendations. Another trend in the market is the growing popularity of socially responsible investing (SRI). Moroccan investors are increasingly interested in aligning their investments with their personal values and beliefs. This trend is driven by a greater awareness of environmental, social, and governance (ESG) issues, as well as a desire to make a positive impact through their investments. As a result, financial advisors in Morocco are incorporating SRI strategies into their investment recommendations to meet the evolving preferences of their clients.

Local special circumstances: Morocco has a relatively young population, with a large portion of the population being under the age of 35. This demographic trend presents both opportunities and challenges for the Financial Advisory market. On one hand, the young population represents a potential market for financial advisory services as they start to accumulate wealth and plan for their future. On the other hand, the younger generation may have different preferences and expectations when it comes to financial advice, such as a greater reliance on technology and digital platforms.

Underlying macroeconomic factors: Morocco has been experiencing steady economic growth in recent years, driven by sectors such as tourism, agriculture, and manufacturing. This positive economic environment has contributed to the growth of the Financial Advisory market, as individuals and businesses seek professional guidance to manage their finances and investments. Additionally, the Moroccan government has implemented reforms to improve the business climate and attract foreign investment, which has further stimulated the demand for financial advisory services. In conclusion, the Financial Advisory market in Morocco is experiencing growth due to increasing customer preferences for personalized advice, the popularity of socially responsible investing, and the country's positive macroeconomic factors. As the market continues to evolve, financial advisory firms in Morocco will need to adapt to the changing needs and preferences of their clients, while also leveraging technology and data analytics to provide more tailored and effective solutions.

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.