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Wealth Management - United Arab Emirates

United Arab Emirates
  • Assets under Management in the Wealth Management market are projected to reach US$195.12bn in 2025.
  • Financial Advisory dominates the market with a projected market volume of US$190.37bn in 2025.
  • Assets under Management are expected to show an annual growth rate (CAGR 2025-2029) of 2.36%, resulting in a market volume of US$214.22bn 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.

In-Scope
  • 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
Out-Of-Scope
  • Commercial Assets or Assets Under Custody
  • Independent Financial Advisory Companies
  • Independent Financial Advisors (IFAs)
  • Full-Service Products for Insurance and Lending
Financial Advisory: market data & analysis  - Cover

Market Insights report

Financial Advisory: market data & analysis
CONTENTBOX_CAPTION_STUDY_DETAILS

    Assets Under Management (AUM)

    NOTES: Data was converted from local currencies using average exchange rates of the respective year.

    MOST_RECENT_UPDATE: Oct 2024

    SOURCE: Statista Market Insights

    NOTES: Data was converted from local currencies using average exchange rates of the respective year.

    MOST_RECENT_UPDATE: Oct 2024

    SOURCE: Statista Market Insights

    Analyst Opinion

    The Wealth Management market in United Arab Emirates has been experiencing significant growth in recent years.

    Customer preferences:
    Customers in the United Arab Emirates have shown a strong preference for wealth management services due to several reasons. Firstly, the country has a high concentration of high-net-worth individuals who are seeking professional advice to manage their wealth. These individuals are looking for tailored solutions that can help them preserve and grow their assets. Additionally, the younger generation in the country is becoming more financially savvy and is increasingly interested in investing their wealth. This has created a demand for wealth management services that cater to the needs of this demographic.

    Trends in the market:
    One of the key trends in the wealth management market in the United Arab Emirates is the growing popularity of Sharia-compliant investment products. Islamic finance is an important aspect of the country's financial system, and many individuals prefer to invest in products that adhere to Islamic principles. As a result, wealth management firms are offering a wide range of Sharia-compliant investment options to cater to this demand. Another trend in the market is the increasing use of technology in wealth management services. Fintech companies are disrupting the traditional wealth management industry by offering innovative digital solutions. This includes robo-advisors that use algorithms to provide investment advice and online platforms that allow individuals to manage their investments. Wealth management firms in the United Arab Emirates are embracing these technological advancements to better serve their clients and enhance the overall customer experience.

    Local special circumstances:
    The United Arab Emirates is known for its favorable business environment, which has attracted a large number of expatriates to the country. These expatriates often have complex financial situations and require specialized wealth management services. Wealth management firms in the country have developed expertise in managing the finances of expatriates, including tax planning and cross-border investments. This has further fueled the growth of the wealth management market in the United Arab Emirates.

    Underlying macroeconomic factors:
    The growth of the wealth management market in the United Arab Emirates can be attributed to several macroeconomic factors. Firstly, the country has a stable and well-regulated financial system, which instills confidence in investors. This has attracted both domestic and international investors to the country, leading to an increase in wealth management activities. Additionally, the United Arab Emirates has a strong economy with a high GDP per capita, which has contributed to the growth of wealth in the country. As individuals accumulate more wealth, they are seeking professional advice to manage their assets effectively. In conclusion, the wealth management market in the United Arab Emirates is experiencing significant growth due to customer preferences for tailored solutions, the popularity of Sharia-compliant investment products, the increasing use of technology, the need for specialized services for expatriates, and the underlying macroeconomic factors such as a stable financial system and a strong economy.

    Financial Advisors

    NOTES: Data was converted from local currencies using average exchange rates of the respective year.

    MOST_RECENT_UPDATE: Oct 2024

    SOURCE: Statista Market Insights

    High Net Worth Individuals

    NOTES: Data was converted from local currencies using average exchange rates of the respective year.

    MOST_RECENT_UPDATE: Oct 2024

    SOURCE: Statista Market Insights

    Methodology

    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).

    Finance

    XMO_REPORT_PROMO_HEADLINE

    Financial Advisory: market data & analysis  - BackgroundFinancial Advisory: market data & analysis  - Cover

    Key Market Indicators

    NOTES: Based on data from IMF, World Bank, UN and Eurostat

    MOST_RECENT_UPDATE: Jan 2025

    SOURCE: Statista Market Insights

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    Private wealth management - statistics & facts

    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.
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