Market Insights Financial Wealth Management

Financial Advisory - Thailand

Thailand

In Thailand, the Financial Advisory market is anticipated to witness a significant growth in the coming years.
It is projected that the Assets under Management in this market will reach a staggering US$78.24bn by the year 2024.
This indicates a promising future for the Financial Advisory market sector in Thailand.
Furthermore, the Assets under Management are expected to exhibit an annual growth rate, commonly known as CAGR, of 0.20% from 2024 to 2028.
This consistent growth is predicted to result in a market volume of US$78.86bn by the year 2028.
This indicates a positive trend for the Financial Advisory market in Thailand, showcasing its potential for further expansion and development.
Thailand's financial advisory market is experiencing strong growth, driven by increasing demand for wealth management services from the country's growing affluent population.

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

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Analyst Opinion

The Financial Advisory market in Thailand has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Financial Advisory market in Thailand have shifted towards seeking professional advice and guidance to manage their finances and investments.

As the economy continues to grow and individuals accumulate wealth, there is a greater need for expert advice to ensure that their financial goals are met. Additionally, the younger generation is increasingly interested in investing and wealth management, creating a growing demand for financial advisory services. Trends in the market indicate a shift towards digitalization and technology-driven solutions.

With the rise of fintech companies and online platforms, customers now have access to a wide range of financial advisory services at their fingertips. This has led to increased competition in the market, as traditional financial advisory firms adapt to the changing landscape and offer digital solutions to cater to the tech-savvy customers. Local special circumstances in Thailand, such as the aging population and the growing middle class, have also contributed to the development of the Financial Advisory market.

The aging population is seeking advice on retirement planning and wealth preservation, while the growing middle class is looking for investment opportunities and financial planning services. These factors have created a favorable environment for the growth of the financial advisory industry in Thailand. Underlying macroeconomic factors, such as the stable economic growth and favorable investment climate in Thailand, have further supported the development of the Financial Advisory market.

The country's strong economic fundamentals, coupled with government initiatives to promote the financial sector, have attracted both domestic and international investors. This has led to an increase in the demand for financial advisory services, as investors seek guidance on how to navigate the complex investment landscape. In conclusion, the Financial Advisory market in Thailand is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

As more individuals seek professional advice to manage their finances and investments, the demand for financial advisory services is expected to continue to rise. The industry is also adapting to the digital age, offering technology-driven solutions to cater to the evolving needs of customers.

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).