Wealth Management Platform Market- Global Industry Analysis and Forecast (2023-2029)

Wealth Management Platform Market was valued at US$ 4.22 Bn. in 2022. Global Wealth Management Platform Market size is expected to grow at a CAGR of 14.5 % through the forecast period.
Wealth Management Platform Market Overview:
A wealth management platform is a software application that is used to plan, analyze, monitor, and control specialized financial services. It's a popular investment advising service that combines other financial services to respond to affluent clients' needs. Financial goal-setting, legal and tax assistance, estate planning, a comprehensive wealth overview, personal retail banking services, portfolio management capabilities, and investment management services are all included.

Enterprises use these platforms to streamline operations, provide consistent advice across channels, and manage diverse and complex investment programs from a single platform. Wealth management systems help to improve investment decisions, innovation, production cycles, and cost-effectiveness by decreasing manual processes, errors, risk, financial stress, and complications.

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2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2022 is a year of exception and analysis especially with the impact of lockdown by region.
Wealth Management Platform Market Dynamics:
Market Drivers:

The market is expected to increase due to a growing trend among high-net-worth individuals (HNWIs) to use digital investment management products. High-net-worth individuals (HNWIs) demand greater control and transparency from wealth management solutions. The wealth management platform allows HNWIs to obtain more transparency and control over their money management. It also employs a variety of analytical techniques to help customers better strategize their wealth objectives.

The market revenue is expected to drive growth for wealth management systems to help with portfolio management and trading decisions. Wealth managers use software platforms to manage the financial data of a variety of clients to assist them in making the most profitable decisions. The increased digitalization of investment and banking organizations is another factor boosting market demand.

Market Trend:

The market is looking up addition to higher digitalization across the country. Organizations can use the wealth management platform to acquire insights and improve decision-making in order to increase profitability and efficiency. Furthermore, growing product usage in trading and exchange organizations to easily handle multiple clients, understand the financial portfolio process, and access trading accounts is boosting market growth.

Furthermore, technical improvements such as the introduction of digital wealth management platforms, which give financial organizations the most up-to-date integrated tools and data-driven analytics, are boosting the market growth. In line with this, the use of artificial intelligence (AI) to efficiently manage expenditure, identify investing preferences, and deliver personalized and curated advice to clients is boosting market growth. Apart from that, rising disposable incomes, particularly in emerging economies, and the implementation of different stringent government financial sector compliances are expected to boost market growth significantly higher.

Market Opportunity

Long-term financial planning is the process of using forecasts to align an individual's financial capacity with long-term service goals. Different countries around the world have a long-term financial planning approach that encourages decision-makers to discuss a long-term view. Wealth management tools promote long-term and strategic thinking, which helps in minimizing financial issues. They're necessary for effective communication with both internal and external stakeholders.

Adoption of Al and analytics allows for the analysis phase, which gives data to aid in strategizing and planning. Financial and forecast analysis is commonly related to long-term financial planning in the analysis phase. It also involves data collection, trend forecasting, and analysis. These analyses increase public knowledge regarding long-term financial planning, presenting the attractive potential for the wealth management platform market over the forecast period.

Market Restraint:

During the forecast period, the market will face growth challenges due to a lack of awareness among the target audience about the importance of wealth management and the benefits that market operations can provide to the target audience and potential consumers. One of the most crucial factors is to establish trust, which takes time for potential consumers to grow and provide important information.
Wealth Management Platform Market Covid-19 Insight:
The wealth management platform market was negatively impacted by COVID-19. The rapid spread of the virus affected the financial system, as companies and businesses were forced to close due to social distancing measures. Investors and wealth management firms were both influenced by unexpected circumstances. Investors witnessed direct effects on their portfolios as a result of the early market declines and historically high levels of volatility. Total net interest income and fees related to assets under management (AUM) fell as trading volumes increased, while transactional revenues increased.
Wealth Management Platform Market Segment Analysis:
Based on Type, the Wealth Management Platform Market is segmented into cloud and on-premises . The cloud has the biggest market share because it allows enterprises to carefully monitor their cloud-based apps and services, providing invaluable data, insights, and alerts as well as potential future commotions or concerns. Accessing tracking queries, analyzing procedures, ensuring data integrity, charting cloud-database resource utilization, and tracking obtainability are all part of the process.

The main benefit of a cloud-based solution is that it is simple to use and does not require the organization to worry about installation, maintenance, or configuration duties. That it's under the control of the cloud provider. The cloud-based model is suitable for firms that want to grow on their own time. Corporations with large internal infrastructure, banks, financial institutions, and organizations with a devoted internal monitoring staff, on the other hand, choose on-premise. Based on the Application, the Wealth Management Platform Market is segmented into Performance management, risk and compliance management, portfolio accounting and trading management, financial advice management, reporting, and others make up the wealth management platform market. Portfolio accounting is the process of analyzing the performance of individual stocks in a stock portfolio, determining whether investments should be increased or decreased, and evaluating the portfolio to verify that it fulfills the investor's growth goals.

Portfolio accounting and trade management help HNW individuals manage their financial assets successfully and safely. The wealth management platform market for portfolio accounting and trade management platforms would continue to develop over the forecast period due to the growing number of high-net-worth individuals.

Based On Advisory Model, The wealth management platform market is divided into three categories human advisory, Robo-advisory, and hybrid. The financial strategy is developed by the human advisory model, which then configures the Robo-advisory model, which then assists in investment and trade decisions based on financial instruments.

Customers can use this operation to get a balance of technology services and human advice on crucial investment decisions. Furthermore, human advisors may not always have the time, intelligence, or skill to process data quickly enough to provide timely interactions. However, this model can help investors make difficult decisions, such as whether to finance a child's education or arrange for rising healthcare costs for elderly family members.

Based on End-User, Healthcare, government, banks and monetary institutions, IT and telecom, retail, and other sectors (education, airlines, and others) are some of the end-users of wealth management technology. Banks and financial institutions account for the largest proportion of the market, while retail is expected to grow at the fastest rate through the forecast period. As millions of customers visit mobile apps and banking websites from a range of devices, banks and financial institutions generate large amounts of unwanted data. Financial services firms and banks can use wealth management software to manage their transactions and holdings.
Wealth Management Platform Market Regional Insights:
The North America region dominated the market with 55 % share in 2021. The North America region is expected to witness significant growth at a CAGR of 6% through the forecast period. In order to attract and retain successful retail consumers in North America, wealth management services are becoming increasingly vital. Rich mass customers, for example, account for a significant portion of retail banks' net income in the region. The wealth management activities of many of the region's different financial market businesses are growing. Furthermore, the market is growing due to the presence of major players in the country.

Throughout the forecast period, Asia Pacific is expected to be the fastest-growing market. Because of the growing use of digital platforms, the region is expected to give additional opportunities for financial advisers

The objective of the report is to present a comprehensive analysis of the global Wealth Management Platform Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Wealth Management Platform Market dynamic, structure by analyzing the market segments and projecting the Wealth Management Platform Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Wealth Management Platform Market make the report investor’s guide.
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Wealth Management Platform Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 4.22 Bn.


Forecast Period 2023 to 2029 CAGR:
14.5%
Market Size in 2029:
US$ 10.90 Bn.


 Segments Covered:
by Deployment Type
Cloud
On-premises


by Advisory Model
Human Advisory
Robo-Advisory
Hybrid


by Application
Performance Management
Risk and Compliance Management
Financial Advice Management
Portfolio accounting and Trading Management
Reporting
Other


by End-User
Investment Management
Firms
Trading and Exchanging firms
Banks Brokerage Firms
Other



Wealth Management Platform Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Wealth Management Platform Market Key Players
1. SS & C Technologies
2. Fiserv
3. FIS
4. Profile Software
5. Broadridge Financial Solution
6. Investedge
7. Temenos Headquaters SA
8. Invest Cloud
9. SEI Investments Company
10.Comarch SA
11.Dorsum Limited
12.Avaloq Group AG
13.Profile Software
14.Objectway
15.Finantix
16.Fidelity National Information Services

Frequently Asked Questions:

1] What segments are covered in the Global Wealth Management Platform Market report?
Ans. The segments covered in the Wealth Management Platform Market report are based on Deployment Type and End User, Application, Advisory Model.

2] Which region is expected to hold the highest share in the Global Wealth Management Platform Market?
Ans. The North America region is expected to hold the highest share in the Wealth Management Platform Market.

3] What is the market size of the Global Wealth Management Platform Market by 2029?
Ans. The market size of the Wealth Management Platform Market by 2029 is expected to reach US$ 10.90 Bn.

4] What is the forecast period for the Global Wealth Management Platform Market?
Ans. The forecast period for the Wealth Management Platform Market is 2023-2029.

5] What was the market size of the Global Wealth Management Platform Market in 2022?
Ans. The market size of the Wealth Management Platform Market in 2022 was valued at US$ 4.22 Bn.