Wealth Management - Finland

Finland

In Finland, the Assets under Management (AUM) in the Wealth Management market are estimated to reach a staggering US$135.60bn by the year 2024.
Financial Advisory takes the lead in this market segment, with a projected market volume of US$132.90bn in the same year.
Looking ahead, the AUM is expected to display an annual growth rate (CAGR 2024-2028) of 0.77%, which translates to a market volume of US$139.80bn by 2028.
Finland's wealth management market is experiencing a shift towards sustainable investing, with an increasing demand for socially responsible investment options.

Key regions: United States, United Kingdom, Germany, Hong Kong, Singapore

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Analyst Opinion

The Wealth Management market in Finland is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Wealth Management market in Finland are shifting towards more personalized and tailored services.

Clients are seeking individualized investment strategies and advice that align with their specific financial goals and risk tolerances. This preference for customization is driving the demand for wealth management services that provide a high level of personalization and expertise. In terms of market trends, the Wealth Management market in Finland is seeing a rise in digitalization and the use of technology.

Wealth management firms are leveraging digital platforms and tools to enhance the client experience, streamline operations, and provide real-time access to investment information. This trend is driven by the increasing demand for convenience and accessibility, as well as the need for efficient and cost-effective solutions. Another trend in the market is the growing interest in sustainable and responsible investing.

Clients are becoming more conscious of the environmental, social, and governance (ESG) factors associated with their investments and are seeking wealth management services that align with their values. This trend is driven by a greater awareness of sustainability issues and a desire to make a positive impact through investment decisions. In addition to customer preferences and market trends, local special circumstances also play a role in the development of the Wealth Management market in Finland.

The country has a highly educated population with a strong focus on financial literacy. This creates a favorable environment for wealth management services, as clients are well-informed and actively seek professional advice to manage their wealth effectively. Furthermore, Finland has a robust regulatory framework that ensures the stability and integrity of the financial markets.

This provides a level of trust and confidence for clients, attracting both domestic and international investors to the Wealth Management market in Finland. Underlying macroeconomic factors also contribute to the growth of the Wealth Management market in Finland. The country has a stable and prosperous economy, characterized by high per capita income and a well-functioning welfare system.

This creates a favorable environment for wealth accumulation and investment, driving the demand for wealth management services. Moreover, Finland has a strong culture of savings and long-term financial planning. The population has a high savings rate and a tendency to invest in financial instruments such as equities and bonds.

This provides a solid foundation for the Wealth Management market in Finland, as clients actively seek professional advice to optimize their investment portfolios. Overall, the Wealth Management market in Finland is experiencing growth and development due to customer preferences for personalized services, market trends towards digitalization and sustainable investing, local special circumstances such as financial literacy and a robust regulatory framework, and underlying macroeconomic factors including a stable economy and a culture of savings. These factors create a favorable environment for the expansion of wealth management services in Finland.

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).