Asset and Wealth Management Market Size and Forecast (2021–2031), Global and Regional Share, Trends, and Growth Opportunity Analysis: by Business Model (Human Advisory, Robo Advisory, and Hybrid Advisory), End Users (Banks, Broker Dealers, Specialty Finance, Wealth Advisors, and Others), and Geography

The asset and wealth management market size is expected to grow from US$ 4.52 billion in 2023 to US$ 11.86 billion by 2031; it is anticipated to expand at aCAGR of 12.8% from 2023 to 2031. The rapid demand for alternative investments is becoming a major asset and wealth management market trend.

Asset and Wealth Management Market Analysis

The global asset and wealth management market is primarily driven by the swift demand for alternative assets like hedge funds, private equity, commodities, real estate investment trusts, and intellectual property. The wealth management business has also been significantly affected by the rise of FinTechs. Furthermore, there is a growing market need for asset and wealth management due to the fact that it reduces financial stress, helps create financial plans, and allows for the widespread integration of digitalized goods. Moreover, the growing adoption and integration of advanced technologies are further fueling the growth of the market.

Asset and Wealth Management Market Overview

• Both asset and wealth managers manage investment portfolios for their clients. The main goal of asset managers is to increase their clients' assets in order to maximize profits.
• Whereas, wealth managers provide a variety of financial services and advice to help high-net-worth individuals (HNWIs) manage their wealth and accomplish their long-term financial objectives.

Strategic Insights

Asset and Wealth Management Market Driver

Emergence of FinTechs To Drive the Asset and Wealth Management Market Growth

• The asset and wealth management sector has been significantly affected by fintechs. FinTechs encompass a broad spectrum of innovative technologies aimed at enhancing and streamlining the provision of financial services. To enhance the client experience, fintech firms are investing more in emerging technologies like digital identity (ID), robotic process automation (RPA), artificial intelligence (AI), and robo-advisors.
• Furthermore, fintech firms are using robo-advisor technology more and more since it uses automated and algorithm-based systems to give clients personalized portfolio management recommendations.
• Hence, the growth in fintech firms is fueling the asset and wealth management market growth.

Asset and Wealth Management Market Report Segmentation Analysis

• Based on the business model, the market is segmented into human advisory, robo advisory, and hybrid advisory. The human advisory segment is expected to hold a substantial asset and wealth management market share in 2023.
• The adoption of data-driven technologies and analytics for employee engagement is a major factor driving the Human advisory services market's rise. Al and data analytics are being used by human resource management experts to make important judgments.
• Furthermore, predictive analysis is utilized to identify employees who are at high risk of voluntary attrition, and interventions are developed to reengage them. Advances in data-driven technologies and analytics are projected to propel the asset & wealth management market.

Asset and Wealth Management Market Share Analysis By Geography

The scope of the market is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant asset and wealth management market share. For North American organizations, including insurance firms, foundations, endowments, pension funds, and government agencies, asset management services are essential. In order to satisfy the unique investment goals of their clients, institutional asset and wealth managers oversee enormous investment portfolios that include a variety of asset types, including stocks, bonds, real estate, and alternative assets. The goal of these services is to gradually increase wealth and provide retirement security. As a result, the North American asset and wealth management business is expanding due to investment management, wealth management, and retirement, further fueling the growth of the asset and wealth management market.

Asset and Wealth Management Market Report Scope

The "Asset and Wealth Management Market Analysis" was carried out based on business model, end users, and geography. On the basis of the business model, the market is segmented into human advisory, robo advisory, and hybrid advisory. Based on end users, the market is segmented into banks, broker dealers, specialty finance, wealth advisors, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Asset and Wealth Management Market News and Recent Developments

Companies adopt inorganic and organic strategies such as mergers and acquisitions in the asset and wealth management market. A few recent key market developments are listed below:

• In February 2024, Avaloq, a subsidiary of NEC Corporation, announced that they had entered into a new partnership with Makati-based Security Bank. The bank aims to digitalize its wealth management business with the Avaloq Core Platform and to roll out Avaloq’s Relationship Manager (RM) Workplace solution to strengthen its front office. The new partnership will further streamline the bank’s operations while creating an enhanced client experience.

[Source: NEC Corporation, Company Website]

• In June 2022, BNP Paribas Wealth Management announced that they are expanding their digital offering, including a new platform dedicated to private assets, to meet these new needs, in line with the Group's 2025 GTS strategic plan (Growth, Technology, Sustainability).

[Source: BNP Paribas, Company Website]

Asset and Wealth Management Market Report Coverage & Deliverables

The Asset and Wealth Management Market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Asset and Wealth Management Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-

• Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
• Market dynamics such as drivers, restraints, and key opportunities.
• Key future trends.
• Detailed PEST & SWOT analysis
• Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
• Detailed company profiles.

1. JPMorgan Chase
2. Citigroup
3. Goldman Sachs Group
4. Credit Suisse AG
5. Bank of America Corporation
6. UBS
7. BNY Mellon
8. State Street
9. BNP Paribas Group
10. Morgan Stanley