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Rising Number Of Financial Advisory Firms Drives Growth In Wealth Management Platform Market Driver: Leading Transformation in the Wealth Management Platform Market in 2025
Wealth Management Platform Market
The growth of the wealth management platform market is set to be fueled by the increasing number of financial advisory firms. These firms are businesses that offer a range of expert services and advice to individuals, corporations, and institutions on all facets of financial management. There is a surge in these firms due to the growing need for personalized financial advice, spanning from retirement planning, investment management to tax optimization, and estate planning. To streamline client communication, enhance service delivery, and effectively handle client portfolios, these firms utilize wealth management platforms. Their goal is to offer all-encompassing financial solutions that are customized to each client's specific needs. As per the Investment Adviser Industry Snapshot by the Investment Adviser Association (IAA), a non-profit organization based in the US, the number of clients employing asset management advisory services in 2022 was 54.3 million, marking a 2.1% increase from the prior year. Hence, the wealth management platform market's growth is being propelled by the surge in financial advisory firms.
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What Is the projected market size and growth rate for the wealth management platform market?
In the last few years, the market scale for wealth management platforms has experienced a swift increase. It is projected to expand from $4.45 billion in 2024 to $5.08 billion in 2025, with a compound annual growth rate (CAGR) of 14.1%. The escalating number of high net worth individuals worldwide, digital advancements in the financial sector, heightened awareness of data security and bank safety, incorporation of blockchain technology in wealth management solutions, and strict governmental regulations in the financial sector contribute to this historical period's growth.
In the coming years, the market size of the wealth management platform is expected to witness a substantial increase, set to reach $8.52 billion by 2029 with a 13.8% compound annual growth rate (CAGR). The growth during the forecast period is mainly due to factors such as rising adoption of cloud-based solutions, emphasis on enriching experiences in financial companies, burgeoning digitization, advanced adoption of automation, and improved security and protection of customer data. Noteworthy trends expected during the forecast period are innovative wealth management platforms, real-time analytics, flexible investment strategies, technological advancements, and the integration of forward-looking technologies and software.
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What new trends are reshaping the wealth management platform market and its opportunities?
Key companies in the wealth management platform market are prioritizing the creation of solutions based on artificial intelligence, like Era, to offer comprehensive services to their clients. Era, an AI-driven wealth management platform, has recently garnered $3.1 million in seed funding. For example, in November 2023, US-based wealth management platform Tinwell Labs Inc. unveiled Era, a wealth management platform powered by AI. The platform is designed to offer personalized wealth management advice via AI and automate financial chores to improve both financial accessibility and ambition. By integrating market news and macroeconomic data into its AI algorithms, Era sets itself apart, enhancing the quality of its recommendations and enabling users to stay informed about economic elements influencing their financial situation and investment portfolios.
What major market segments define the scope and growth of the wealth management platform market?
The wealth management platform market covered in this report is segmented -
1) By Deployment Type: On-Premises, Cloud
2) By Advisory Mode: Human Advisory, Robo Advisory, Hybrid
3) By Business Function: Financial Advice Management, Portfolio, Accounting, And Trading Management, Performance Management, Risk And Compliance Management, Reporting, Other Business Functions
4) By End-User: Banks, Trading Firms, Brokerage Firms, Investment Management Firms, Other End-Users
Subsegments:
1) By On-Premises: Private Cloud (On-Premises Hosted), On-Premises Installed Software
2) By Cloud: Public Cloud, Private Cloud (Hosted Externally), Hybrid Cloud
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North America was the largest region in the wealth management platform market in 2024. Asia-Pacific is expected to be the fastest growing region in the market. The regions covered in the wealth management platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Which key market leaders are driving the wealth management platform industry growth?
Major companies operating in the wealth management platform market are JPMorgan Chase & Co, Bank of America Corporation, Tata Consultancy Services Ltd., NEC Corporation, PNC Financial Services Group Inc., Infosys Limited, BlackRock Inc., Fiserv Inc., Goldman Sachs Private Wealth Management, Fidelity Information Services Inc., Vanguard Group Inc., Northern Trust Corporation, Broadridge Financial Solutions Inc., SS&C Technologies Inc., Charles Schwab Investment Management Inc., SEI Investments Company, Temenos AG, Comarch SA, Backbase BV, Prometeia SpA, Crealogix AG, Profile Systems and Software SA, Dreamplug Technologies Private Limited, Wells Fargo Investment Institute Inc., Tinwell Labs Inc
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What Is Covered In The Wealth Management Platform Global Market Report?
•Market Size Forecast: Examine the wealth management platform market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the wealth management platform market for a structured understanding.
•Key Players Overview: Analyze major players in the wealth management platform market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the wealth management platform market.
•Segment Contributions: Evaluate how different segments drive overall growth in the wealth management platform market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the wealth management platform market.
•Industry Challenges: Identify potential risks and obstacles affecting the wealth management platform market.
•Competitive Landscape: Review strategic developments in the wealth management platform market, including expansions, agreements, and new product launches.
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