Wealth Management - Asia

Asia

Assets under Management in the Wealth Management market are projected to reach €14,290.00bn in 2024.
Financial Advisory dominates the market with a projected market volume of €13,860.00bn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 0.25%, resulting in a market volume of €14,470.00bn by 2029.

Key regions: United States, United Kingdom, Germany, Hong Kong, Singapore

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Wealth Management market in Asia has been experiencing significant growth in recent years.

Customer preferences: Customers in Asia are increasingly seeking professional wealth management services to help them grow and protect their assets. They are looking for personalized advice and solutions that can cater to their specific financial goals and risk tolerance. Additionally, there is a growing demand for digital wealth management platforms, as customers in Asia are becoming more tech-savvy and prefer the convenience and accessibility of online services.

Trends in the market: One of the key trends in the Wealth Management market in Asia is the rapid rise of the middle class. As economies in the region continue to grow, more people are joining the middle class and accumulating wealth. This has created a larger customer base for wealth management firms, as these individuals seek professional guidance to manage their newfound wealth. Another trend is the increasing popularity of sustainable and socially responsible investing. Customers in Asia are becoming more conscious of environmental and social issues, and they want their investments to align with their values. Wealth management firms are responding to this trend by offering a range of sustainable investment options, such as green bonds and impact investing funds.

Local special circumstances: Asia is a diverse region with different market dynamics in each country. For example, in China, the Wealth Management market has been driven by the rapid growth of the high-net-worth population and the increasing demand for overseas investment opportunities. On the other hand, in India, the market is driven by the rising middle class and the need for long-term wealth creation and retirement planning.

Underlying macroeconomic factors: The growth of the Wealth Management market in Asia can be attributed to several underlying macroeconomic factors. Firstly, the strong economic growth in many Asian countries has led to an increase in personal wealth. As incomes rise, individuals have more disposable income to invest and seek professional wealth management services. Secondly, the low interest rate environment in many Asian countries has made traditional savings and investment options less attractive. Customers are turning to wealth management firms to find alternative investment opportunities that can generate higher returns. Lastly, the increasing globalization and integration of Asian economies have created new investment opportunities. Wealth management firms are capitalizing on this trend by offering cross-border investment solutions and access to international markets. In conclusion, the Wealth Management market in Asia is experiencing growth due to the increasing demand for professional wealth management services, the rise of the middle class, the popularity of sustainable investing, and various underlying macroeconomic factors. However, it is important for wealth management firms to understand the unique customer preferences and local special circumstances in each country to effectively tap into the market potential.

Methodology

Data coverage:

The data encompasses B2C enterprises. The figures are based on gross revenues, assets under management, and user & advisor data of relevant services and products offered within the Wealth Management market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research activities (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as: GDP, gross national income (GNI), consumer spending, total investment (% of GDP), high income (% of population), and number of high-net-worth individuals (HNWI). This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).