Wealth Management Market Report 2020-2030: Top Players Wells Fargo and Company, JPMorgan Chase & Co., Bank of America Corporation, Morgan Stanley, UBS Group AG

Wealth Management Market By Type Of Asset Class (Equity, Fixed Incomes, Alternative Assets And Others) Major Players And Market Size – Global Forecast To 2030 By The Business Research Company

The global wealth management market reached a value of nearly $486.78 billion in 2019, having increased at a compound annual growth rate (CAGR) of 6.6% since 2015. The market is expected to decline from $486.78 billion in 2019 to $446.73 billion in 2020 at a rate of -8.2%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 9.4% from 2021 ad reach $584.99 billion in 2023.

The Key drivers of the wealth management market include:
Rising Demand For Alternative Investments– Going forward, increasing demand for alternative investments is expected to drive the market for wealth management. There has been an increasing preference for alternative investments among the high net worth individuals and ultra-high net worth individuals. Alternative investments are financial assets, which do not fall into the category of conventional financial assets, such as stocks, bonds, and cash. Examples of alternative investments include hedge funds, private equity, commodities, mineral rights, real estate investment trusts (REITs), art and antiquities, intellectual property, and derivatives (futures, options, and swaps), among others. Investors are increasingly becoming interested in alternative investments owing to several benefits offered such as diversification, reduction in portfolio risk, availability in private markets, low correlation with other assets, less regulation, and relatively higher returns.

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Wealth Management Market Segmentation:
The wealth management market is segmented by type of asset class, by advisory mode, by type of wealth manager, by enterprise size, by type of client, by service element and by geography.
By Type Of Asset Class-
The wealth management market can be segmented by type of asset class into
a) Equity
b) Fixed Income
c) Alternative Assets and Others
The fixed income market was the largest segment of the wealth management market segmented by type, accounting for 69.3% of the total in 2019. Going forward, the alternative assets and others segment is expected to be the fastest growing segment in the wealth management market, at a CAGR of 8.6% during 2019-2023.

By Advisory Mode-
The wealth management market can be segmented by advisory mode into
a) Human Advisory
b) Robo Advisory
c) Hybrid Advisory
The human advisory market was the largest segment of the wealth management market segmented by type of advisory mode, accounting for 98.6% of the total in 2019. Going forward, the robo advisory segment is expected to be the fastest growing segment in the wealth management market, at a CAGR of 26.1% during 2019-2023.

By Type Of Wealth Manager-
The wealth management market can be segmented by type of wealth manager into
a) Private Banks
b) Full-Service Wealth Managers
c) Investment Managers
d) Stockbrokers
e) Others
The private banks market was the largest segment of the wealth management market segmented by type of wealth manager, accounting for 41.8% of the total in 2019. Going forward, the others segment is expected to be the fastest growing segment in the wealth management market, at a CAGR of 7.8% during 2019-2023.

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By Geography - The wealth management market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa

Some of the major key players involved in the wealth management market are
• Wells Fargo & Company
• JPMorgan Chase & Co.
• Bank of America Corporation
• Morgan Stanley
• UBS Group AG

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.

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