Wealth Management

Assets under Management in the Wealth Management market are projected to reach US$0.00 in 2024.
Digital Investment dominates the market with a projected market volume of US$326.30m in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of ∞%, resulting in a market volume of US$1.38bn 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 Georgia is experiencing significant growth and development in recent years. Customer preferences in the Wealth Management market in Georgia are shifting towards more personalized and tailored services.

Clients are increasingly seeking customized investment strategies and advice that align with their individual financial goals and risk tolerance. This trend is driven by the growing awareness among clients about the importance of wealth preservation and long-term financial planning. Additionally, clients are also demanding greater transparency and accountability from wealth management firms, leading to a rise in demand for independent financial advisors.

One of the key trends in the Wealth Management market in Georgia is the increasing adoption of digital platforms and technology. Wealth management firms are leveraging digital tools and platforms to streamline their operations, enhance client engagement, and provide access to a wider range of investment opportunities. The use of robo-advisors and online investment platforms is gaining popularity among tech-savvy clients, who value the convenience and cost-effectiveness of these digital solutions.

Another trend in the Wealth Management market in Georgia is the growing interest in sustainable and socially responsible investing. Clients are increasingly seeking investment opportunities that align with their values and have a positive impact on society and the environment. This trend is driven by the growing awareness of environmental, social, and governance (ESG) factors and their potential impact on investment returns.

Wealth management firms are responding to this trend by offering a range of ESG-focused investment products and integrating sustainability considerations into their investment strategies. In addition to these global trends, there are also some local special circumstances that are shaping the Wealth Management market in Georgia. The country's strategic location between Europe and Asia, along with its favorable business environment, has attracted a significant amount of foreign direct investment.

As a result, there is a growing segment of high-net-worth individuals and ultra-high-net-worth individuals in Georgia who require sophisticated wealth management services. Wealth management firms in Georgia are capitalizing on this opportunity by expanding their service offerings and catering to the unique needs of this client segment. Underlying macroeconomic factors such as economic growth, political stability, and regulatory reforms are also contributing to the development of the Wealth Management market in Georgia.

The country has witnessed steady economic growth in recent years, which has led to an increase in disposable income and wealth accumulation. Furthermore, the government has implemented various reforms to improve the business and investment climate, attracting both domestic and foreign investors. These factors have created a favorable environment for the growth of the Wealth Management market in Georgia.

Overall, the Wealth Management market in Georgia is experiencing growth and development driven by changing customer preferences, technological advancements, and favorable macroeconomic factors. Wealth management firms in the country are adapting to these trends and special circumstances to meet the evolving needs of their clients and capitalize on the opportunities in the market.

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.