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Wealth Management Platform Market Size 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), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI3995
  • Published Date: Dec 2022
  • Report Format: PDF

Industry Statistics

Wealth Management Platform Market size surpassed USD 3 billion in 2022 and is projected to witness 10% CAGR from 2023 to 2032, owing to the growing preference for digital investment management by high-net-worth individuals (HNWIs).
 

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HNWIs are looking for greater control and transparency in wealth management solutions. The platform helps consumers to more successfully strategize their wealth goals using various analytics tools and give HNWIs more transparency and control over how their wealth is managed. The growing digitalization of the BFSI sector is anticipated to open new progression opportunities for these platforms. The espousal of cloud technology by wealth management firms will facilitate the industry growth.
 

The market can be restrained by concerns such as data security and safety for both banks & fintech companies. Rising number of cyber-attacks and data breaches in financial institutions over the past several years, as well as hackers targeting financial institutions may impede wealth management platform market progress. With such instance, wealth management companies will be required to maintain the confidentiality of their client’s financial records and account information.
 

Adoption of AI and robotics technology to support the deployment of robo advisory platform

The industry size from the robo advisory mode segment is slated to observe 15% growth between 2023 and 2032. The financial sector is expanding its investments in AI and robotics technologies which should influence the implementation of robo advisory model. Robo-advisors are digital platforms that offer automated financial planning services that are driven by algorithms. Through an online survey, a robo-advisor asks clients about their financial position and future goals in order to provide advice and invest their assets automatically.
 

Rising cases of cyber-attacks will expand utilization of on-premise of wealth management platform

The on-premise deployment segment held a 45% wealth management platform market share in 2022. This platform gives better data control and a higher standard of data protection. The technology provides extensive defense against potential cyberthreats and is implemented across internal systems. An IT team gets total control over the user interface, settings, and design of the software when the digital wealth management system is kept on-premises.
 

Requirement for effective risk management strategies to boost product demand

The industry from risk & compliance management application is projected to observe 10% growth rate through 2032. The requirement for effective risk management strategies that integrate IT, operational, compliance, ESG practices, and third-party providers will support this development. Moreover, the implementation of Know Your Product (KYP) and Know Your Customer (KYC) compliance procedures, as well as Anti-Money Laundering (AML) and the anti-fraud system, would assist industry expansion.
 

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Increasing use of wealth management platform in brokerage firm

The industry from brokerage firm end-use segment is poised to attain nearly 10% gains during 2023 to 2032. The platform has a number of features, including tools for managing listings, leads, communications, feedback, letters, commissions, bookkeeping, reporting and more. Users are provided accessible to all transactions, agent billing, commissions, payables.
 

Rising number of HNWI across North American industry 

North America wealth management platform market was worth more than USD 1 billion in 2022. The regional demand for these platforms is driven by the rise in number of High-Net-Worth Individuals (HNWIs). Wealth management companies have attracted investments to strengthen their business presence and address the requirement of rising HWNI base.
 

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Strategic expansion activities to augment industry outlook

SS&C Technologies Holdings, Inc., Fiserv, Inc., Broadridge, FIS Global, Avaloq, Prometeia, and InvestCloud are a few of the leading players in the wealth management platform market. These firms place a strong emphasis on making strategic acquisitions of leading providers of financial technology solutions. They are also focusing on the expansion of technology throughout international borders. For instance, to broaden its presence internationally, Mintus teamed up with Amergeris Wealth Management (Switzerland) AG in October 2022. The cooperation with Amergeris Wealth Management (Switzerland) AG, a division of Amicorp Group, will dramatically extend Mintus' exposure to investors throughout Europe, the Middle East, and Asia.
 

Impact of the COVID-19 pandemic on market trends

The COVID-19 pandemic has constructively impacted the global industry. It has prompted businesses to plan for longer-term considerations including digital acceleration and workforce transformation in order to fulfil the evolving expectations of investors, enterprises, banks and organizations. Customer contacts and corporate operations became digital and processes, procedures, and controls are also carried out digitally. Wealth management companies were successful during the crisis as it accelerated their digital transformation and use adaptable wealth management operational model.
 

This market research report on wealth management platform includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

Market, By Advisory Mode

  • Human Advisory
  • Robo Advisory
  • Hybrid

Market, By Deployment Model

  • Cloud
  • On-premise

Market, By Application

  • Financial Advice & Management
  • Portfolio, Accounting, & Trading Management
  • Performance Management
  • Risk & Compliance Management
  • Reporting
  • Others

Market, By End-Use

  • Banking
  • Investment Management Firms
  • Trading & Exchange Firms
  • Brokerage Firms
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

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
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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