Key regions: United States, United Kingdom, Germany, Hong Kong, Singapore
The Wealth Management market in New Zealand has been experiencing significant growth in recent years.
Customer preferences: Customers in New Zealand have shown a strong preference for personalized wealth management services. They are increasingly seeking customized solutions that cater to their individual financial goals and risk appetites. This has led to a rise in demand for financial advisors who can provide tailored investment advice and portfolio management services. Additionally, customers are becoming more tech-savvy and are looking for digital wealth management platforms that offer convenience and transparency.
Trends in the market: One of the key trends in the New Zealand Wealth Management market is the growing adoption of sustainable and socially responsible investing. Customers are increasingly interested in investing their wealth in companies and funds that align with their values and have a positive impact on society and the environment. This trend is driven by a combination of factors, including increased awareness of environmental and social issues, changing consumer preferences, and regulatory initiatives promoting sustainable investment practices. Another trend in the market is the rise of robo-advisory services. Robo-advisors use algorithms and automation to provide investment advice and manage portfolios. This technology-driven approach to wealth management appeals to customers who are looking for low-cost and convenient investment solutions. Robo-advisory platforms also offer a user-friendly interface and provide access to a wide range of investment options, making them attractive to tech-savvy customers.
Local special circumstances: New Zealand has a relatively small population compared to other developed countries, which has implications for the Wealth Management market. The limited pool of potential customers means that wealth management firms need to focus on providing high-quality services to retain existing clients and attract new ones. Additionally, the New Zealand market is highly competitive, with both domestic and international players vying for market share. This competition has led to innovation and the development of new products and services to meet the evolving needs of customers.
Underlying macroeconomic factors: The New Zealand economy has been performing well in recent years, with steady economic growth and low unemployment rates. This has contributed to an increase in household wealth and disposable income, driving the demand for wealth management services. Additionally, the low interest rate environment has made traditional savings and investment products less attractive, leading customers to seek alternative investment options. The New Zealand government has also implemented policies to encourage savings and investment, further boosting the Wealth Management market. In conclusion, the Wealth Management market in New Zealand is experiencing growth due to customer preferences for personalized services, the adoption of sustainable investing, the rise of robo-advisory platforms, and favorable macroeconomic factors. The market is highly competitive, and wealth management firms need to focus on providing high-quality services to attract and retain customers in this evolving landscape.
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).
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