The wealth management platform market is expected to register a CAGR of 10.0% during the forecast period. The wealth management platform market size is anticipated to rise from US$ 3.3 billion in 2023 to US$ 8.56 billion by 2033.

Global digitalization is booming, which is improving the market outlook. The wealth management platform helps companies obtain knowledge and improve decision-making to increase productivity and profitability.

The market expansion is being supported by the extensive product use in trading and exchange organizations to handle numerous clients effectively, comprehend the process of the financial portfolio, and access trading accounts.

A boost to the market’s expansion is being given by several technical developments, such as the introduction of digital wealth management platforms that give financial firms access to new integrated tools and data-driven analytics.

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Artificial intelligence (AI) is being integrated to efficiently manage investment preferences, and offer individualized and carefully curated advice for clients, which is positively boosting the market growth.

The market for wealth management platforms is expected to expand as a result of increasing smartphone saturation, technological advancements, increased use of and interest in smart gadgets, and other factors.

Wealth management solutions may also help HNWIs better structure their wealth management objectives by using a variety of analytical methodologies. Modern advising technology adoption is gaining traction.

For instance, the HNI and UHNWI categories in India have increased dramatically in the preceding decade, fuelling demand for wealth management services, according to a September 2021 report from the India Brand Equity Foundation (IBEF).

Key Takeaways from Market Study

The big market share for wealth management platforms is held by North America and with a revenue share of US$ 1.0 billion in 2022. In North America, wealth management services are increasingly important for attracting and keeping successful retail customers.

During the prediction period, it is predicted that Asia Pacific is likely to expand significantly with a rate of 8.4% due to the region’s growing use of digital platforms, and economic consultants are expected to have strong job chances.

In 2032, the wealth management platform market in Europe is estimated to account for 20% of total revenue. This expansion needs to be aided by wealth managers’ adoption of Environmental, Social, and Governance (ESG) frameworks into their investment strategies. As the need for AI-enabled investment solutions increases, banks, wealth managers, and other financial institutions throughout the area are implementing wealth management platforms.

In 2022, the end-user segment for banks accounted for 30% of the market share for wealth management platforms. Due to high-net-worth professionals’ demand for a better customer experience and individualized care, wealth management platforms are growing in popularity.

The asset management sub-segment of the service type sector is predicted to earn the most income over the projection period, followed by financial planning, tax planning, estate planning, and others. By 2028, the asset management market is expected to generate revenues of US$ 224.92 billion, up from US$ 142.35 billion in 2020, with a 7.2% CAGR.

Competitive Landscape

The market participants plan to increase the size of their customer bases by acquiring new clients, growing their current clientele, releasing new products, expanding their technological leadership through ongoing R&D investments, and expanding internationally through partnerships and collaborations.

Latest Developments in the Wealth Management Platform Market

To transform its core banking systems and support the bank’s expansion plans in the United States, BMO Harris Bank expanded its partnership with FIS, a provider of financial service technology, in June 2021.

In January 2021, D-fine and Avaloq worked together to implement and upgrade projects in Switzerland and Germany by utilizing D-strong fine’s technical capabilities and in-depth knowledge of banking regulation.

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Key Companies Profiled

SS & C Technologies, Inc.
Fiserv Inc.
FIS
Profile Software
Broadridge Financial Solutions, Inc.
InvestEdge, Inc.
Temenos Headquarters SA
InvestCloud
SEI Investments Company
Comarch SA
Dorsum Limited
Avaloq Group AG

Key Segments Covered in the Market Report

By Advisory Mode:

Human Advisory
Robo Advisory
Hybrid
By Deployment Model
On-premise
Cloud

By Application:

Financial Advice & Management
Portfolio
Accounting & Trading Management
Performance Management
Risk & Compliance Management
Reporting

By End-use:

Banking Investment Management Firms
Trading & Exchange Firms
Brokerage Firms

Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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