Financial Advisory Market Expansion Continues, with Forecast Valuation of $274.64 Billion by 2029

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What Will the Financial Advisory Industry Market Size Be by 2025?
The market size of financial advisory services has experienced continuous growth in the past few years. It is projected to rise from its $209.82 billion valuation in 2024 to an increased value of $219.48 billion in 2025, translating into a compound annual growth rate (CAGR) of 4.6%. The expansion during the historical period can be traced back to factors such as economic situation, demographic patterns, market fluctuations, globalization, and a rise in wealth levels.

What's the Long-Term Growth Forecast for the Financial Advisory Market Size Through 2029?
The anticipated growth of the financial advisory market size is projected to be robust in the coming years, with expectations to increase to $274.64 billion by 2029, boasting a compound annual growth rate (CAGR) of 5.8%. This expansion during the forecasted period is influenced by numerous factors such as dynamic regulatory environments, sustainable and ESG investments, retirement planning services, personalization in the investment process, and collaboration with fintech enterprises. The period will likely see dominance from key trends like technological strides forward, digitalization, increased focus on ESG investments, emergence of robo-advisors, and tailored financial planning.

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What Are the Key Growth Drivers Fueling the Financial Advisory Market Expansion?
The growth of the financial advisory market stands to benefit from an increase in high-net-worth individuals (HNWI). Being a HNWI means possessing at least USD 1 million in liquid assets. These individuals often turn to financial advisors to help manage their wealth and explore further benefits and opportunities. This trend is backed up by data from the World Wealth Report 2024 released by Capgemini, a France-based IT company, which indicated a 5.1% increase in HNWI population in June 2024, offsetting the 3.6% and 3.3% declines recorded in 2022. Therefore, the increasing HNWI population is a major factor propelling the growth of the financial advisory market.

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What Are the Key Trends Driving Financial Advisory Market Growth?
The emergence of technological advancements is becoming a dominant trend in the financial advisory sector. Major firms in this market leverage new technologies to maintain their market stance. A prime example is SRG Financial Advisors, a holistic financial planning entity based in the US. In March 2022, they introduced the 'Mile Marker Digital Vault Technology' in collaboration with FutureVault, a Canada-based firm known for its secure document exchange and digital vault services. The SRG team is employing numerous next-gen process changes and technologies for their clientele, starting with the Marker Vault. This innovation aims to improve the clients' asset management and financial planning experiences, making operations more smooth for clients to focus on their main priorities. FutureVault provides a secure and mutual platform for SRG Financial Advisors and its clients to efficiently manage information and documents, significantly simplifying the interaction between them.

How Is the Financial Advisory Market Segmented?
The financial advisory market covered in this report is segmented -

1) By Type: Corporate Finance, Accounting Advisory, Tax Advisory, Transaction Services, Risk Management, Other Types
2) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises
3) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), IT And Telecom, Manufacturing, Retail And E-Commerce, Public Sector, Healthcare, Other Industry Verticals

Subsegments:
1) By Corporate Finance: Mergers And Acquisitions (M&A), Capital Raising, Financial Restructuring
2) By Accounting Advisory: Financial Reporting, Compliance And Regulatory Advisory, Internal Controls And Risk Assessment
3) By Tax Advisory: Tax Planning And Compliance: Transfer Pricing, International Tax Advisory
4) By Transaction Services: Due Diligence: Valuation Services, Transaction Structuring
5) By Risk Management: Enterprise Risk Management: Operational Risk Assessment, Compliance Risk Management
6) By Other Types: Investment Advisory, Wealth Management, Financial Planning Services

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Which Companies Are Leading the Charge in Financial Advisory Market Innovation?
Major companies operating in the financial advisory market include JP Morgan Chase & Co., Bank of America Corporation, Wells Fargo & Co, accenture* plc, Morgan Stanley, PricewaterhouseCoopers International Limited (PwCIL, Goldman Sachs Group Inc., Ernst & Young Global Limited, UBS Group AG, KPMG International Limited, Deloitte Touche Tohmatsu Ltd., Credit Suisse Group AG, Charles Schwab Corporation, Ameriprise Financial Inc., Edward D. Jones & Co., L.P., Boston Consulting Group, RWBaird, Mercer, Protiviti Consulting Pvt. Ltd., Fisher Investments, Alvarez & Marsal Holdings, LLC, Luther King Capital Management, Heritage Investment Group, Eubel Brady & Suttman, Dana Investment Advisors Inc., Leavell Investment Management, Janney Montgomery Scott LLC, LPL Financial, Merrill Lynch Wealth Management, Northwestern Mutual Wealth Management Company, Raymond James Financial Inc., RBC Wealth Management, Stifel Financial Corp., Vanguard Group

Which Regions Are Leading the Global Financial Advisory Market in Revenue?
Asia-Pacific was the largest region in the financial advisory market in 2024. The regions covered in the financial advisory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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