Wealth Management Platform Market Growth to Hit 13.8% CAGR, Globally, by 2028 - Exclusive Report by The Insight Partners

The global wealth management platform market share worth $9.19 billion by 2028, at a growing CAGR of 13.8% from 2021 to 2028.

Pune, India, Nov. 08, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Wealth Management Platform Market Size and Forecast (2021–2028), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Advisory Model (Human Advisory, Robo-Advisory, and Hybrid), Business Function (Performance Management, Risk and Compliance Management, Portfolio Accounting and Trading Management, Financial Advice Management, Reporting, and Others), Deployment Type (Cloud and On-Premise), and End User (Investment Management Firms, Trading and Exchange Firms, Banks, Brokerage Firms, and Others)” the market in terms of revenue was estimated to be worth $3.71 billion in 2021 and is poised to reach $9.19 billion by 2028, growing at a CAGR of 13.8% from 2021 to 2028.

The growth of the wealth management platform market is driven by rising adoption of ROBO advisors in wealth management and growing number of high-net-worth individuals globally. 

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Global Wealth Management Platform Market Scope:

Report CoverageDetails
Market Size Value inUS$ 3.71 billion in 2021
Market Size Value byUS$ 9.19 billion by 2028
Growth rateCAGR of 13.8% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
Segments coveredAdvisory Model, Business Function, Deployment Type, End User, and Geography
Regional scopeNorth America; Europe; Asia Pacific; Latin America; MEA
Country scopeUS, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends

Integration of AI and Analytics in the Global Wealth Management Platforms Market:

The integration of artificial intelligence (AI) technology and analytics in the financial sector permits organizations to understand the complexity of the global markets profoundly and invest precisely. AI is being integrated extensively across numerous areas, ranging from cloud computing applications to digital assistants, to automate the process. With increasing applications of AI and evolving market landscape, advancements in wealth management platforms have become necessary. The integration of AI and analytics with wealth management platforms allows companies to analyze all details related to investments in both past and future. It offers real-time analytics and intelligence and continually improves savings goals by reducing the cost. The adoption of AI and analytics permits wealth managers to handle huge amounts of real-time data. With the integration of advanced technologies, such as AI and big data analytics, wealth managers provide deep insights about markets and associated risks to the customers, which helps customers make smarter decisions. The continuous advancements in AI also permit the managers to determine new sources to customize investor portfolios associated with specific risk profiles, which, in turn, is likely to gain momentum for the wealth management platform market during the forecast period.

Long-term financial planning is a procedure of aligning the financial capacity of an individual with long-term service goals by financial forecasting. Different governments globally have an overall long-term financial planning process that encourages the discussion of a long-range perspective used by decision-makers. Wealth management tools help minimize financial difficulties by generating long-term and strategic thinking. They are essential for effective communication with external and internal stakeholders. Adoption of Al and analytics provides the analysis phase to provide information that aids in the strategizing and planning. The analysis phase comprises financial and forecasts analysis, often associated with long-term financial planning. It also involves information gathering, trend forecasting, and analysis. These analyses create awareness about long-term financial planning among the masses, which would create lucrative opportunities for the wealth management platform market during the forecast period.

In North America, changing consumer categories and engagement rules, rapid technological advancements, and shifting competition dynamics are likely to bring significant changes in the wealth management business in the next 10 years. The structure of the wealth management platform industry in the region has changed dramatically with the further democratization of trading in the first decade of the 2000s because of increased access to technologies. Similarly, the last two decades have witnessed the convergence of banking and investment businesses, and the emergence of fee-based managed accounts. During the COVID-19 pandemic, traditional financial institutions (FIs) began seeking ways to speed up their digital transformation as consumers closely monitored their finances and moved their focus to wealth management platform.

Global Wealth Management Platform Market: Business Function Overview

The wealth management platform market, by business function, is segmented into performance management, risk and compliance management, portfolio accounting and trading management, financial advice management, reporting, and others. Portfolio accounting refers to tracking the performance of individual securities in a stock portfolio, evaluating which investments might be increased or decreased, and assessing the portfolio to ensure that it meets the investor's growth expectations. Portfolio accounting and trade management assists high-net-worth (HNW) people in successfully and safely managing their financial assets. Due to the rising number of high-net-worth people worldwide, the market for portfolio accounting, and trade management platforms would continue to grow during the forecast period. This business function also contributes to the provision of real-time data and analytics, which aid in making better investment decisions and improving management performance while maximizing operational agility. It also contributes to the delivery of tools assisting in active decision-making, trading, and portfolio management across a variety of programs such as unified managed accounts, mutual fund advice, separately managed accounts, exchange-traded funds, and others.

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Global Wealth Management Platform Market: Competitive Landscape and Key Developments

Broadridge Financial Solutions, Inc.; Comarch SA; FIS Global; InvestCloud; Fiserv, Inc.; InvestEdge, Inc.; PROFILE SOFTWARE S.A; SEI Investments Developments, Inc.; SS&C Technologies, Inc; and Temenos Headquarters SA are among the key players profiled during this market study. In addition, several other essential market players were studied and analyzed to get a holistic view of the global wealth management platform market and its ecosystem.

Recent Developments:

  • In 2022: FORTUNE magazine has named – Broadridge Financial Solutions, Inc., to its list of the World’s Most Admired Companies in the financial data services industry.
  • In 2022: FIS Named to FORTUNE’s 2022 Most Admired Company List. FIS received high marks for global competitiveness, financial soundness, innovation, quality of products and services, people management, social responsibility, and use of corporate assets.
  • In 2022: Northland Securities, Inc., a full-service financial services firm based in Minneapolis, has gone live with InvestEdge’s ComplianceEdge Trade Surveillance and Account Monitoring product.

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