The wealth management market comprises establishments engaged in planning, advising and managing various kinds of assets. This market covers financial and investment advice, retirement planning and legal or estate planning but excludes accounting and tax services. Market is the revenue generated from the fees and commissions levied on the assets being managed. This market includes brokerage and custodian charges of the firms.
North America was the largest region in the wealth management market in 2017, accounting for around 51% market share. This can be attributed to high presence of assets under management in the US and Canada. Western Europe was the second largest region accounting for around 26% market share. Africa was the smallest region accounting for around 1% market share.
The demand for automated or robo advice is growing rapidly in wealth management services. Automated advice is an online wealth management service which provides automated or algorithmic investment advice without any human intervention. This is becoming popular mainly because robo advisors are relatively cheap, compared to traditional wealth management services. Though robo advice is not entirely new, it is recently gaining traction amongst users. According consulting firm Corporate Insight, total assets managed by the 11 leading robo advisors in the US rose 65% during 2014, and registered assets under management (AUM) reached $19 billion.
Reasons to Purchase:
- Identify growth segments and opportunities.
- Facilitate decision making on the basis of historic and forecast data and understand the drivers and restraints on the market.
- Develop strategies based on likely future developments.
Gain a global perspective on the development of the market.
- Time Series: Five years historic and forecast.
- Data: Market value in $ billions.
- Data Segmentations: Regional breakdowns, market share of competitors, key sub segments.
Sourcing and Referencing: Data and analysis throughout the report is
sourced using end notes.
- Wells Fargo
- Bank of America
- Morgan Stanley
- JP Morgan Asset Management
- Commercial Bank of China
- Allianz Group
- State Street Global Advisors
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