Wealth Management - Sweden | Statista Market Forecast

Assets under Management in the Wealth Management market are projected to reach US$776.20bn in 2024.
Financial Advisory dominates the market with a projected market volume of US$770.10bn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 0.52%, resulting in a market volume of US$796.80bn 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.

For more information on the data displayed, use the info button right next to the boxes.

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 Sweden has been experiencing significant growth in recent years, driven by a combination of customer preferences, market trends, and local special circumstances. Customer preferences in the Wealth Management market in Sweden have been shifting towards a more personalized and digitalized approach.

Customers are increasingly seeking tailored investment solutions that align with their individual goals and risk tolerance. They also expect convenient and user-friendly digital platforms that allow them to access and manage their investments anytime and anywhere. This shift in customer preferences has led to the emergence of new digital wealth management platforms and services in Sweden, which are gaining popularity among tech-savvy investors.

Trends in the market also contribute to the development of the Wealth Management market in Sweden. One notable trend is the growing demand for sustainable and socially responsible investments. Swedish investors are increasingly conscious of the environmental and social impact of their investments and are seeking opportunities to align their wealth with their values.

This trend has led to the development of sustainable investment products and services in the market, such as green bonds and impact investing funds. Another trend in the Wealth Management market in Sweden is the increasing adoption of robo-advisory services. Robo-advisors use algorithms and artificial intelligence to provide automated investment advice and portfolio management.

This technology-driven approach appeals to cost-conscious investors who are looking for low-cost investment solutions. Robo-advisory services also offer convenience and accessibility, making them attractive to a wide range of investors. Local special circumstances in Sweden further contribute to the development of the Wealth Management market.

Sweden has a high level of financial literacy among its population, which creates a favorable environment for wealth management services. Additionally, the country has a strong social welfare system and a high saving rate, which provides a solid foundation for wealth accumulation. These factors, combined with a stable and well-regulated financial market, make Sweden an attractive market for wealth management providers.

Underlying macroeconomic factors also play a role in the development of the Wealth Management market in Sweden. The country has a strong economy with low unemployment and a high GDP per capita. This favorable economic environment provides individuals with the means to invest and accumulate wealth.

Furthermore, Sweden has a well-developed pension system, which encourages individuals to save and invest for their retirement. In conclusion, the Wealth Management market in Sweden is developing in response to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards personalized and digitalized wealth management services, the demand for sustainable investments, the adoption of robo-advisory services, and the favorable financial and economic environment in Sweden are driving 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.