Wealth Management - Switzerland | Statista Market Forecast

Assets under Management in the Wealth Management market are projected to reach US$5.54tn in 2024.
Financial Advisory dominates the market with a projected market volume of US$5.53tn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 0.56%, resulting in a market volume of US$5.69tn 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 Switzerland has been experiencing significant growth in recent years, driven by several key factors.

Customer preferences: Swiss customers have traditionally placed a high value on wealth preservation and long-term financial stability. This has led to a strong demand for conservative investment strategies and a focus on low-risk, high-quality assets. Additionally, Swiss clients have shown a preference for personalized and tailored wealth management services, with a strong emphasis on trust and confidentiality. These preferences have shaped the offerings of wealth management firms in Switzerland, with a focus on providing high-quality, personalized services to meet the unique needs of Swiss clients.

Trends in the market: One major trend in the Swiss Wealth Management market is the increasing demand for sustainable and socially responsible investments. Swiss clients are becoming more conscious of the environmental and social impact of their investments, and are seeking wealth management solutions that align with their values. This trend has been driven by a combination of regulatory changes, increased awareness of sustainability issues, and changing customer preferences. Wealth management firms in Switzerland have responded to this trend by expanding their offerings of sustainable investment products and integrating environmental, social, and governance (ESG) factors into their investment processes. Another trend in the Swiss Wealth Management market is the growing importance of digitalization. Swiss clients are increasingly using digital channels to access wealth management services, and expect a seamless and user-friendly digital experience. Wealth management firms in Switzerland have invested heavily in digital technologies to meet these expectations, offering online platforms and mobile apps that allow clients to access their accounts, view investment performance, and communicate with their advisors. This trend has been accelerated by the COVID-19 pandemic, which has highlighted the importance of digital capabilities in the wealth management industry.

Local special circumstances: Switzerland is known for its strong financial services industry, with a long history of wealth management expertise. The country's political stability, strong rule of law, and well-developed infrastructure have made it an attractive destination for wealthy individuals and families from around the world. In addition, Switzerland's favorable tax environment and strict banking secrecy laws have made it a popular choice for international clients seeking to preserve and grow their wealth. These factors have contributed to the growth of the Wealth Management market in Switzerland, attracting both domestic and international clients.

Underlying macroeconomic factors: Switzerland's strong economy and high per capita income levels have created a favorable environment for the Wealth Management market. The country's stable political and economic climate, as well as its well-developed financial markets, have attracted a significant amount of wealth from both domestic and international sources. In addition, Switzerland's strong currency and low interest rate environment have provided favorable conditions for wealth accumulation and investment. These macroeconomic factors, combined with the country's reputation for financial stability and expertise, have contributed to the growth of the Wealth Management market in Switzerland.

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.