Wealth Management - France | Statista Market Forecast

Assets under Management in the Wealth Management market are projected to reach US$9.38tn in 2024.
Financial Advisory dominates the market with a projected market volume of US$9.34tn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 1.95%, resulting in a market volume of US$10.33tn by 2029.

Definition:

Wealth management is a service provided by financial institutions, such as banks or investment firms, to help individuals manage their money and investments. The goal of wealth management is to help people grow and protect their wealth over time, by creating personalized investment plans that consider their financial goals, risk tolerance, and overall financial situation. This goal ultimately emphasizes wealth creation through wealth preservation.

Structure:

The Wealth Management market consists of two different segments, Financial Advisory and Digital Investment. Financial Advisory covers traditional financial advisory services and provides a broader look into the revenue generated by this offering. Digital Investment contains automated investment services (Robo-Advisors) and online trading services (Neobrokers) that go beyond the means of traditional financial advisory services.

Additional information:

The market comprises of revenues, number of advisors, average revenue per advisor, assets under management (AUM), users, average revenue per user, and average AUM per user. Revenues are generated through the financial advisory services offered by the financial institutions within the Wealth Management market space. The market only displays B2C revenues and users for the above-mentioned segments and subsegments; B2B and B2G revenues are not included. Additional definitions for each segment can be found on the respective segment pages.
Market numbers for Digital Investment are also featured among our digital markets, namely in the Digital Investment segment of the Fintech market.
Key players in the market include financial institutions such as BlackRock, Vanguard Group, Fidelity Investments, State Street Global, and J.P. Morgan Chase & Co.

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Traditional & Digital Wealth Management (non-automated & automated wealth management services)
Traditional Investment, incl. Financial Advisors
Banks, Financial Institutions, and Financial Services Companies
Digital Investment, incl. Robo-advisors and Neobrokers
Full-Service Products for Investing and Trading
Retail/Non-Professional Investors

Commercial Assets or Assets Under Custody
Independent Financial Advisory Companies
Independent Financial Advisors (IFAs)
Full-Service Products for Insurance and Lending

The Wealth Management market in France has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in the Wealth Management market in France have shifted towards more personalized and tailored services.

High-net-worth individuals are seeking comprehensive wealth management solutions that go beyond traditional investment advice and include services such as tax planning, estate planning, and philanthropy. This trend is driven by the increasing complexity of financial markets and the desire for a holistic approach to wealth management. Additionally, customers are demanding more transparency and control over their investments, leading to the rise of digital platforms and robo-advisors in the market.

Trends in the market indicate a growing focus on sustainable and responsible investing. French investors are increasingly considering environmental, social, and governance (ESG) factors when making investment decisions. This trend is driven by a growing awareness of climate change and social issues, as well as regulatory initiatives promoting sustainable finance.

Wealth management firms in France are incorporating ESG considerations into their investment strategies and offering specialized products and services to meet the demand for sustainable investing. Local special circumstances in France, such as the presence of a large number of high-net-worth individuals and a strong culture of savings, have contributed to the development of the Wealth Management market. France has a high concentration of wealthy individuals, many of whom have inherited their wealth and are seeking professional advice to manage and grow their assets.

Additionally, the French population has a strong tradition of saving and investing, which has created a fertile ground for the growth of the Wealth Management market. Underlying macroeconomic factors have also played a role in the development of the Wealth Management market in France. The country has experienced a period of economic stability and low interest rates, which has led investors to seek alternative investment opportunities to generate higher returns.

Additionally, the implementation of regulatory reforms, such as the Markets in Financial Instruments Directive (MiFID II), has increased transparency and investor protection in the market, making it more attractive for individuals to seek professional wealth management services. Overall, the Wealth Management market in France is evolving to meet the changing needs and preferences of customers. The focus on personalized services, sustainable investing, and the presence of a large number of high-net-worth individuals are driving the growth of the market.

With favorable macroeconomic conditions and regulatory reforms in place, the Wealth Management market in France is expected to continue its positive trajectory in the coming years.

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.