Financial Advisory - Taiwan | Statista Market Forecast

Assets under Management in the Financial Advisory market are projected to reach US$87.75bn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 0.01%, resulting in a market volume of US$87.79bn 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 Taiwan has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Taiwan have shifted towards seeking professional financial advice due to increasing wealth and a desire for more sophisticated investment strategies.

With a growing middle class and a higher disposable income, individuals are looking for ways to grow their wealth and secure their financial future. This has led to an increased demand for financial advisory services, as people seek guidance on investment options, retirement planning, and risk management. Trends in the market have also contributed to the growth of the Financial Advisory sector in Taiwan.

One notable trend is the rise of digital platforms and robo-advisors. These platforms offer automated investment advice and portfolio management services, which are appealing to tech-savvy individuals who prefer a more convenient and cost-effective approach to financial planning. The availability of these digital platforms has democratized access to financial advice, making it more accessible to a wider range of individuals.

Another trend in the market is the increasing focus on sustainable and socially responsible investing. Taiwanese investors are becoming more conscious of the social and environmental impact of their investments, and are seeking financial advisors who can help them align their investment strategies with their values. This trend has created opportunities for financial advisors who specialize in sustainable investing and can provide guidance on ESG (Environmental, Social, and Governance) factors.

Local special circumstances in Taiwan, such as a rapidly aging population and a high savings rate, have also contributed to the growth of the Financial Advisory market. As the population ages, there is a greater need for retirement planning and wealth management services. Additionally, the high savings rate in Taiwan has created a pool of potential clients who are looking for ways to invest their savings and generate returns.

Underlying macroeconomic factors, such as low interest rates and a stable economic environment, have also played a role in the growth of the Financial Advisory market in Taiwan. Low interest rates have made traditional savings accounts less attractive, prompting individuals to seek alternative investment options. The stable economic environment has instilled confidence in investors, leading to increased investment activity and the need for professional financial advice.

In conclusion, the Financial Advisory market in Taiwan is experiencing significant growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As individuals in Taiwan seek professional financial advice to grow their wealth and secure their financial future, the demand for financial advisory services is expected to continue to rise.

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.