Wealth Management Platform Market Scenario
The global wealth management is presumed to garner USD 4 billion during the assessment period (2018-2023). The market is considered to register 15 % CAGR owing to the emerging digitalization, asserts Market Research Future (MRFR). Wealth management refers to the financial and investment advisory service for small business owners and high net worth individuals. Wealth management platform offers portfolio, financial advice management, client management, accounting and trading management, performance management, fund management, reporting, and risk and compliance management.
The wealth management platform market is experiencing remarkable growth due to the hyper-competitive nature of the investment industry. There has been a steep rise in the number of High Net Worth Individuals (HNWIs) in recent years which coupled with the dearth of experienced well-trained wealth managers has provided a tremendous opportunity to the global wealth management platform market.
Wealth Management Platform Market Industry Updates
Morgan Stanley has recently launched a new platform termed WealthDesk, which aims toward serving as one destination for all advisors’ financial planning, implementation tasks, and advice. The firm has planned to offer training on the platform in 2019.
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Wealth Management Platform Market Competitive Dashboard
The major players operating the global market are Objectway (Italy), SEI Investment Company (U.S.), Broadridge Financial Solutions (U.S.), Fidelity National Information Services Inc. (U.S.), Invest Edge (U.S.), Profile Software (U.K.), Comarch (Poland), SS&C Technologies (US), Finantix (Italy), Fiserv Inc. (U.S.), Temenos (Switzerland), and Dorsum Investment Software (Hungary).
Drivers and Constraints Impacting the Wealth Management Platform Market
With emerging digitalization, rise in high net worth individuals, and adoption of automation process by the enterprises, the global market for wealth management platform is considered to stimulate during the review period. Strict industry regulations have resulted in the increased protection and security of the client’s data which enables enterprises maintain customer relations. Such factors are presumed to augment the market growth. Wealth management platform market has been witnessing rapid change towards the lower cost models which offer high-tech solutions like robo-advisors without the intervention of human advisors. These models also offer solutions to mainly mass affluent at lower cost than the traditional wealth managers. This is anticipated to fuel the global market.
On the flip side, higher dependency on the traditional methods is likely to impede the market growth. Moreover, inadequate technical expertise among the professionals and lack of awareness of wealth management solutions are considered to retard the market growth in the coming years.
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Global Wealth Management Platform Market: Segmental Analysis
The global wealth management platform market has been segmented on the basis of business function, advisory model, deployment model, end-user, and region.
By mode of advisory model, the global wealth management platform market has been segmented into human advisory, robo-advisory, and hybrid advisory. Among these, the robo-advisory model is likely to gain traction as it has emerged as a low-cost alternative for retail investors. It also has better benefits than the human advisory segment, such as ease of use, low-cost fee structure, diversified services, and low minimum investments.
By mode of business function, the global wealth management platform market has been segmented into portfolio, financial advice management, trading management, accounting, performance management, client and fund management, reporting, risk and compliance management, and others.
By mode of deployment model, the global wealth management platform market has been segmented into on-premise and on-cloud.
By mode of end-user, the global wealth management platform market has been segmented into trading & exchange firms, banks, brokerage firms, investment firms, asset management firms, and others.
Among these, the trading & exchange firms is expected to experience a substantial growth during the forecast period. They provide wealth management services for risk management and capital markets. The segment is presumed to expand at the highest CAGR due to the inclination of customers toward trading and exchange in order to improve their financial gains.
Wealth Management Platform Market – Regional Insights
Geographically, the global wealth management platform market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World.
Among all the regions, North America is presumed to lead the global market owing to the presence of key market players along with growing high net worth individuals in this region. Also, presence of developed economies, such as Canada and the US, which are emphasizing over innovating the existing solutions are likely to foster the growth in this region. The region is estimated to contribute a major share of the rising partnerships, mergers and acquisitions, and other business deals.
Asia Pacific is presumed to expand at the highest CAGR owing to the rapid expansion of domestic enterprises along with development of infrastructure. Also, high demand of hybrid advisory by high net worth individuals is likely to contribute to the market growth in this region.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
LIST OF TABLES
Table 1 Global Wealth Management Platform Market, By Region, 2018–2023
Table 2 North America: Wealth Management Platform Market, By Country, 2018–2023
Table 3 Europe: Wealth Management Platform Market, By Country, 2018–2023
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LIST OF FIGURES
FIGURE 1 Global Wealth Management Platform Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Wealth Management Platform Market
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