Wealth Management

Assets under Management in the Wealth Management market are projected to reach US$35.37bn in 2024.
Financial Advisory dominates the market with a projected market volume of US$34.96bn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 0.33%, resulting in a market volume of US$35.97bn 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 Qatar has been experiencing significant growth in recent years. Customer preferences have shifted towards more personalized and tailored investment solutions, while the market has benefited from local special circumstances and underlying macroeconomic factors.

Customer preferences in the Wealth Management market in Qatar have evolved to prioritize personalized and tailored investment solutions. High-net-worth individuals in Qatar have become increasingly sophisticated in their investment strategies and are seeking customized solutions that align with their specific goals and risk tolerance. They are looking for wealth managers who can provide a holistic approach to managing their assets, offering a range of services such as investment advisory, estate planning, and tax optimization.

This shift in customer preferences has led to the emergence of boutique wealth management firms that specialize in catering to the unique needs of high-net-worth individuals. One of the key trends in the Wealth Management market in Qatar is the growing demand for Sharia-compliant investment products. Qatar, being an Islamic country, has a significant Muslim population that adheres to Islamic principles.

This has created a niche market for wealth managers who can offer Sharia-compliant investment options that are in line with Islamic finance principles. Wealth managers in Qatar have responded to this trend by developing a range of Sharia-compliant investment products, including Islamic funds, sukuk (Islamic bonds), and Islamic wealth management services. Another trend in the Wealth Management market in Qatar is the increasing adoption of digital technologies.

Wealth managers in Qatar are leveraging technology to enhance their service offerings and improve the client experience. This includes the use of digital platforms for portfolio management and reporting, as well as the integration of artificial intelligence and machine learning algorithms for investment analysis and decision-making. The adoption of digital technologies has allowed wealth managers to streamline their operations, reduce costs, and provide more efficient and convenient services to their clients.

In addition to these customer preferences and market trends, the Wealth Management market in Qatar has also benefited from local special circumstances. Qatar is one of the wealthiest countries in the world, with a high concentration of high-net-worth individuals. The country's abundant natural resources, particularly its vast reserves of oil and gas, have fueled economic growth and created a favorable environment for wealth accumulation.

This has attracted international wealth management firms to establish a presence in Qatar, further driving the growth of the market. Underlying macroeconomic factors have also played a role in the development of the Wealth Management market in Qatar. The government of Qatar has implemented a series of economic diversification initiatives aimed at reducing the country's dependence on oil and gas revenues.

These initiatives have led to the growth of non-oil sectors, such as finance, real estate, and manufacturing, which have created new opportunities for wealth creation. Additionally, Qatar's strategic location as a regional financial hub has attracted foreign investors and contributed to the growth of the Wealth Management market. In conclusion, the Wealth Management market in Qatar is developing in response to evolving customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

The shift towards personalized and tailored investment solutions, the demand for Sharia-compliant products, the adoption of digital technologies, the concentration of high-net-worth individuals, and the government's economic diversification initiatives have all contributed to the growth of 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.