Wealth Management

Assets under Management in the Wealth Management market are projected to reach US$90.27bn in 2024.
Financial Advisory dominates the market with a projected market volume of US$87.75bn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 0.22%, resulting in a market volume of US$91.26bn 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 Taiwan has been experiencing significant growth in recent years.

Customer preferences: Taiwanese customers have shown a strong preference for wealth management services due to their desire to diversify their investment portfolios and seek higher returns. With a growing middle class and increasing disposable income, individuals in Taiwan are looking for professional advice and assistance in managing their wealth. They are seeking innovative investment products and solutions that can help them achieve their financial goals.

Trends in the market: One of the key trends in the Wealth Management market in Taiwan is the growing popularity of digital wealth management platforms. Taiwanese customers are increasingly using online platforms to access wealth management services, allowing them to easily track their investments and make informed decisions. This trend is driven by the convenience and accessibility offered by digital platforms, as well as the desire for cost-effective solutions. Another trend in the market is the rising demand for sustainable and socially responsible investments. Taiwanese customers are becoming more aware of environmental and social issues, and they want their investments to align with their values. As a result, wealth management firms in Taiwan are offering a wider range of sustainable investment products, such as green funds and impact investing options.

Local special circumstances: Taiwan has a well-developed financial sector, with a strong regulatory framework and a stable banking system. This provides a conducive environment for the growth of the Wealth Management market. Additionally, the government has been implementing policies to promote the development of the financial industry, including wealth management. These policies aim to attract foreign investors and encourage the growth of domestic wealth management firms.

Underlying macroeconomic factors: The growth of the Wealth Management market in Taiwan is also supported by favorable macroeconomic factors. Taiwan has a high savings rate and a strong economy, which provides individuals with the financial resources to invest in wealth management products. Additionally, low interest rates in Taiwan have encouraged individuals to seek alternative investment options to generate higher returns. The country's stable political environment and strong rule of law also contribute to the attractiveness of the Wealth Management market. In conclusion, the Wealth Management market in Taiwan is experiencing growth due to customer preferences for diversification and higher returns, as well as the adoption of digital platforms and the demand for sustainable investments. The local special circumstances, such as a well-developed financial sector and supportive government policies, further contribute to the growth of the market. The underlying macroeconomic factors, including a high savings rate and a strong economy, also support the development of the Wealth Management market in Taiwan.

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.