Market Insights Financial Wealth Management

Financial Advisory - Asia

Asia

Assets under Management in the Financial Advisory market are projected to reach €13.86tn in 2024.
Assets under Management are expected to show an annual growth rate (CAGR 2024-2029) of 0.16%, resulting in a market volume of €13.97tn by 2029.

Key regions: United States, Singapore, Europe, Switzerland, Canada

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Región

Comparación de regiones

Moneda

Analyst Opinion

The Financial Advisory market in Asia is witnessing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory.

Customer preferences in the Financial Advisory market in Asia are evolving rapidly. Customers are increasingly seeking personalized and tailored financial advice to meet their specific needs and goals. They are also looking for advisors who can provide holistic financial planning services, including investment advice, retirement planning, and estate planning.

Additionally, customers are placing more emphasis on transparency and fee structures, demanding more clarity on the costs associated with financial advisory services. Trends in the market reflect these changing customer preferences. There is a growing demand for robo-advisory services, which leverage technology and algorithms to provide automated investment advice.

Robo-advisors offer convenience, low fees, and accessibility, making them an attractive option for younger and tech-savvy investors. Another trend in the Financial Advisory market is the rise of sustainable and socially responsible investing. Customers in Asia are increasingly interested in investing in companies and funds that align with their values and have a positive impact on society and the environment.

This trend is driven by a growing awareness of environmental and social issues, as well as the desire to generate both financial returns and positive change. Local special circumstances in different countries and regions within Asia also contribute to the development of the Financial Advisory market. For example, in countries like China and India, there is a large and growing middle class with increasing disposable income.

These individuals are seeking professional financial advice to manage their wealth and plan for the future. In addition, the aging population in countries like Japan and South Korea is driving demand for retirement planning and investment advice. Furthermore, the regulatory environment in each country plays a crucial role in shaping the Financial Advisory market.

Some countries have implemented regulations to protect investors and ensure the quality of financial advisory services, while others have introduced initiatives to promote the development of the market. Underlying macroeconomic factors also influence the growth of the Financial Advisory market in Asia. Economic growth, increasing wealth, and rising income levels contribute to the demand for financial advisory services.

As economies in Asia continue to grow and develop, individuals and businesses require professional guidance to navigate complex financial landscapes. Additionally, the low interest rate environment in many Asian countries has led investors to seek alternative investment opportunities, further driving the demand for financial advisory services. In conclusion, the Financial Advisory market in Asia is experiencing significant growth and development.

Changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory. As the market continues to evolve, financial advisors will need to adapt to meet the changing needs and expectations of their customers.

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).