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Wealth Management Platform Market Size By Advisory Mode (Human Advisory, Robo Advisory, Hybrid), By Deployment Model, By Application (Financial Advice & Management, Portfolio, Accounting, & Trading Management, Performance Management, Risk & Compliance Management, Reporting), By End-use & Forecast, 2023 – 2032

  • Report ID: GMI3995
  • Published Date: Mar 2023
  • Report Format: PDF

Wealth Management Platform Market size exceeded USD 3 billion in 2022 and is anticipated to witness 10% CAGR from 2023 to 2032. The market growth can be attributed to the increasing preference for digital investment management by High-Net-Worth Individuals (HNWIs) around the globe. Wealth management platforms offer HNWIs more control & greater transparency over their wealth and help them to plan their wealth goals with the aid of various analytics tools.

Wealth Management Platform Market

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Increasing cyber-attacks and data breaches in financial institutions and growing concerns about data security and bank safety over the past few years are major factors restraining the market demand. Such incidents have created a need for wealth management companies to maintain a high level of confidentiality of customer financial data and account information.

Requirement to administer huge data supports the deployment of human advisory platforms

The wealth management platform market from human advisory mode segment is slated to observe 55% growth between 2023 and 2032. Due to security concerns, human advisory remains the first choice for many HNWIs around the world. Furthermore, human advisory services assist in strengthening client relationships as well as conveying and communicating wealth management strategies & plans. However, trends are gradually shifting and clients are beginning to prefer the hybrid advisory model over the human advisory model.

Global Wealth Management Market Share, By Advisory Mode

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Consistent obtainability and availability will boost the cloud-based model deployment in enterprises

Several businesses around the world prefer cloud-based solutions owing to the numerous benefits they provide such as scalability, agility, and easy access to data. The cost-effectiveness and scalability of cloud platforms enable businesses to develop innovative wealth management platforms more efficiently. Financial advisory firms around the world are also focusing on adopting cloud-based solutions to reduce operational costs.

Requirement for effective portfolio, accounting, and trading management solution strategies to boost platform demand

Portfolio, accounting, and trading management solutions segment hold over 25.5% wealth management platform market share in 2022 and is predicted to expand at 10% CAGR during the forecasted time-period. The market is growing as the solution allow trading managers to focus on collaborative activities and better serve their customers at a time when the demand for portfolio management & trading solutions is increasing. Portfolio, accounting, and trading managers are under intense pressure to effectively manage the data of their existing customers. As a result, they are aggressively adopting wealth management solutions. Wealth managers are also using portfolio, accounting, and trading management platforms to manage the financial data of clients and effectively support them in making the most profitable decisions.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of wealth management platform valued at USD 3 billion in 2022 and is projected to witness 10% CAGR from 2023 to 2032, says this GMI report.

The industry size from robo advisory segment is anticipated to observe 15% growth due to expanding investments of financial sector in AI and robotics technologies.

North America wealth management platform market crossed nearly USD 1 billion revenue in 2022 driven by the rise in the number of High-Net-Worth Individuals (HNWIs).

SS&C Technologies Holdings, Inc., Fiserv, Inc., Broadridge, FIS Global, Avaloq, Prometeia, and InvestCloud are some of the leading providers of wealth management platforms.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 19
  • Tables & Figures: 310
  • Countries covered: 18
  • Pages: 270
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