Categories: Business & Finance

Wealth Management Platform Global Market 2024 – By Size, Share, Trends, Demand, Forecast To 2033 | JPMorgan Chase & Co, Bank of America Corporation, Tata Consultancy Services Ltd

The wealth management platform market size is expected to see rapid growth in the next few years. It will grow to $7.49 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%.  The growth in the forecast period can be attributed to the increased adoption of cloud-based solutions, the need to provide improved experience in financial firms, increased digitization, the high adoption of automation, and enhanced security and protection for client data. Major trends in the forecast period include innovative wealth management platforms, real-time analytics, adaptable investment strategies, technological innovations, and amalgamating progressive technologies and software.

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Scope Of Wealth Management Platform Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Wealth Management Platform Market Overview

Market Drivers –
The rising number of financial advisory firms is expected to propel the growth of the wealth management platform market going forward. Financial advisory firms refer to businesses that provide expert guidance and services to individuals, businesses, and institutions regarding various aspects of financial management. Financial advisory firms are rising due to demand for personalized financial guidance including retirement planning, investment management, tax optimization, and estate planning. Financial advisory firms use wealth management platforms to streamline client interactions, enhance service delivery, and efficiently manage client portfolios, aiming to provide comprehensive financial solutions tailored to each client’s needs. For instance, in 2023, according to the Investment Adviser Industry Snapshot by the Investment Adviser Association (IAA), a US-based non-profit organization, there were 54.3 million clients in 2022 utilizing asset management advisory services, a 2.1% rise from the previous year. Further, in 2021, there was a notable increase in U.S. Securities and Exchange Commission (SEC)-registered investment advisory firms, rising by 926 firms, or 6.7%, compared to the previous year, reaching an all-time high of 14,806 firms. Therefore, the rising number of financial advisory firms is driving the growth of the wealth management platform market.

Market Trends –
Major companies operating in the traffic jam assist market are developing innovative technologies, such as Staria Hybrid, to enhance the driving experience in heavy traffic conditions. Staria Hybrid is a smart traffic jam assist that utilizes features such as adaptive cruise control and lane departure warning to provide a safer and more convenient driving experience, making driving better, particularly in traffic situations. For example, in February 2024, Hyundai Motor Company, a South Korea-based automotive manufacturer, launched the Staria Hybrid with a new feature called ‘Traffic Jam Assist.’ This technology enhances driving safety and convenience, especially in congested traffic conditions, by automatically adjusting speed, maintaining a safe distance from the vehicle ahead, and keeping the vehicle in its lane.

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

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Regional Insights –
North America was the largest region in the wealth management platform market in 2023. 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.

Key Companies –
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

Table of Contents
1. Executive Summary
2. Wealth Management Platform Market Report Structure
3. Wealth Management Platform Market Trends And Strategies
4. Wealth Management Platform Market – Macro Economic Scenario
5. Wealth Management Platform Market Size And Growth
…..
27. Wealth Management Platform Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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