Wealth Management

Assets under Management in the Wealth Management market are projected to reach US$69.05bn in 2024.
Financial Advisory dominates the market with a projected market volume of US$66.08bn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 0.72%, resulting in a market volume of US$71.57bn 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 Peru has been experiencing significant growth in recent years, driven by various factors such as increasing wealth levels, changing customer preferences, and favorable macroeconomic conditions. Customer preferences in the Wealth Management market in Peru have shifted towards seeking professional advice and personalized solutions.

High-net-worth individuals in Peru are increasingly looking for comprehensive wealth management services that go beyond traditional investment advice. They are seeking tailored solutions that take into account their specific financial goals, risk tolerance, and long-term objectives. This shift in customer preferences has led to an increased demand for wealth management services that offer a holistic approach to managing wealth, including financial planning, tax optimization, estate planning, and philanthropic advisory.

Trends in the market indicate that wealth management firms in Peru are expanding their service offerings to meet the evolving needs of their clients. They are investing in technology and digital platforms to provide convenient access to wealth management services and enhance the client experience. Additionally, there is a growing trend of collaboration between wealth management firms and other financial institutions, such as banks and insurance companies, to offer integrated solutions that cater to the diverse needs of high-net-worth individuals.

Local special circumstances in Peru, such as a rapidly growing middle class and a favorable regulatory environment, have contributed to the development of the Wealth Management market. The expanding middle class in Peru has resulted in an increase in the number of affluent individuals who require professional wealth management services. Furthermore, the Peruvian government has implemented pro-business policies and regulations that have attracted foreign investment and stimulated economic growth.

These factors have created a conducive environment for the growth of the Wealth Management market in Peru. Underlying macroeconomic factors, such as stable economic growth, low inflation, and a favorable investment climate, have also played a significant role in the development of the Wealth Management market in Peru. The country's strong economic performance has led to an increase in personal wealth and disposable income, driving the demand for wealth management services.

Additionally, Peru's sound regulatory framework and investor-friendly policies have attracted both domestic and international investors, further fueling the growth of the Wealth Management market. In conclusion, the Wealth Management market in Peru is experiencing robust growth due to changing customer preferences, expanding service offerings, local special circumstances, and favorable macroeconomic conditions. Wealth management firms in Peru are adapting to these trends and capitalizing on the opportunities presented by the evolving market landscape.

As Peru continues to experience economic growth and wealth accumulation, the Wealth Management market is expected to further expand 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.