Wealth Management Platform Market Size Worth $9.19Bn, Globally, by 2028 at 13.8% CAGR – Exclusive Report by The Insight Partners
The wealth management platform market size is expected to grow from $3.71 billion in 2021 to $9.19 billion by 2028; it is estimated to grow at a CAGR of 13.8% from 2021 to 2028.
New York, March 24, 2022 (GLOBE NEWSWIRE) — The Insight Partners published latest research study on “Wealth Management Platform Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Advisory Model (Human Advisory, Robo-Advisory, and Hybrid), Business Function (Performance Management, Risk and Compliance Management, Portfolio Accounting and Trading Management, Financial Advice Management, Reporting, and Others), Deployment Type (Cloud and On-Premise), and End User (Investment Management Firms, Trading and Exchange Firms, Banks, Brokerage Firms, and Others)”, the global wealth management platform market growth is driven by the rising adoption of robo advisors in wealth management. The human advisory segment led the market with share of 51.0% in 2020 and expected to account for 43.4% of the total market in 2028.
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| Report Coverage | Details |
| Market Size Value in | US$ 3.71 billion in 2021 |
| Market Size Value by | US$ 9.19 billion by 2028 |
| Growth rate | CAGR of 13.8% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
| No. of Pages | 203 |
| No. Tables | 109 |
| No. of Charts & Figures | 95 |
| Historical data available | Yes |
| Segments covered | Advisory Model, Business Function, Deployment Type, and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Wealth Management Platform Market: Competitive Landscape and Key Developments
Broadridge Financial Solutions, Inc.; Comarch SA; FIS Global; InvestCloud; Fiserv, Inc.; InvestEdge, Inc.; PROFILE SOFTWARE S.A; SEI Investments Developments, Inc.; SS&C Technologies, Inc; and Temenos Headquarters SA are among the key players profiled during this market study. In addition, several other essential market players were studied and analyzed to get a holistic view of the global wealth management platform market and its ecosystem.
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In January 2021, FORTUNE magazine named Broadridge Financial Solutions, Inc. to its list of the World’s Most Admired Companies in the financial data services category.
In 2022, FIS Named to FORTUNE’s 2022 most admired company list. FIS received high marks for global competitiveness, financial soundness, innovation, quality of products and services, people management, social responsibility, and use of corporate assets.
Long-term financial planning is a procedure of aligning the financial capacity of an individual with long-term service goals by financial forecasting. Different governments globally have an overall long-term financial planning process that encourages the discussion of a long-range perspective used by decision-makers. Wealth management tools help minimize financial difficulties by generating long-term and strategic thinking. They are essential for effective communication with external and internal stakeholders. Adoption of Al and analytics provides the analysis phase to provide information that aids in the strategizing and planning. The analysis phase comprises financial and forecasts analysis, often associated with long-term financial planning. It also involves information gathering, trend forecasting, and analysis. These analyses create awareness about long-term financial planning among the masses, which would create lucrative opportunities for the wealth management platform market during the forecast period.
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In North America, changing consumer categories and engagement rules, rapid technological advancements, and shifting competition dynamics are likely to bring significant changes in the wealth management business in the next 10 years. The structure of the wealth management platform industry in the region has changed dramatically with the further democratization of trading in the first decade of the 2000s because of increased access to technologies. Similarly, the last two decades have witnessed the convergence of banking and investment businesses, and the emergence of fee-based managed accounts. During the COVID-19 pandemic, traditional financial institutions (FIs) began seeking ways to speed up their digital transformation as consumers closely monitored their finances and moved their focus to wealth management platform.
Wealth Management Platform Market: Business Function Overview
The wealth management platform market, by business function, is segmented into performance management, risk and compliance management, portfolio accounting and trading management, financial advice management, reporting, and others. Portfolio accounting refers to tracking the performance of individual securities in a stock portfolio, evaluating which investments might be increased or decreased, and assessing the portfolio to ensure that it meets the investor’s growth expectations. Portfolio accounting and trade management assists high-net-worth (HNW) people in successfully and safely managing their financial assets.
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Due to the rising number of high-net-worth people worldwide, the market for portfolio accounting, and trade management platforms would continue to grow during the forecast period. This business function also contributes to the provision of real-time data and analytics, which aid in making better investment decisions and improving management performance while maximizing operational agility. It also contributes to the delivery of tools assisting in active decision-making, trading, and portfolio management across a variety of programs such as unified managed accounts, mutual fund advice, separately managed accounts, exchange-traded funds, and others.
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