DUBLIN, March 26, 2018 /PRNewswire/ --
The "Wealth Management Platform Market by Advisory Model (Human Advisory, Robo Advisory, and Hybrid), Business Function (Reporting, Portfolio, Accounting, and Trading Management), Deployment Model, End-User Industry, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The global wealth management platform market size is expected to grow from USD 1.70 Billion in 2017 to USD 3.20 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 13.4% during the forecast period.
The increasing business expansions, mergers and acquisitions, joint ventures, and other inorganic strategies undertaken by the vendors are expected to be the key factors in fueling the growth of the market.
The report provides detailed insights into the global wealth management platform market, which has been segmented by advisory model, business function, deployment model, end-user industry, and region. Under the advisory models segment, the human advisory subsegment is expected to hold the largest market share during the forecast period.
Irrespective of the rising service standards of the robo advisors segment, the High Net Worth Individuals (HNIWs) are considering the human advisory segment as their first preference, owing to the increased security concerns in the wealth management industry.
The increase in ratio of the HNWIs across the globe is expected to have increased the demand for wealth management solutions. The wealth management industry's advisory model has been transforming and shifting from commission-based to performance-based models. The robo advisory segment is expected to have the highest growth rate during the forecast period, owing to the increasing competition, rapidly changing market dynamics, and evolving client's requirements. Moreover, it has emerged as an effective low-cost alternative for retail investors and comes with certain benefits, such as low-cost fee structure, ease of use, low to zero account minimums, and diversified services, which is why it is expected to gain traction during the forecast period.
The portfolio, accounting, and trading management business function is expected to hold the largest market share and lead the market during the forecast period. This rise can be attributed to the increased demand for portfolio management, decision support, and trading across multiple programs. With the expanding highly competitive market, the portfolio, accounting, and trading managers are under pressure to handle their existing customers wealth management data, provide them with effective advisory, and concentrate over collaborative activities to strengthen and serve their customers in a better manner.
The rapid adoption of cloud solutions can be observed in the wealth management platform market, owing to the advantages of the cloud technology over that of the on-premises solutions, such as agility, scalability, reduced operational costs, flexible payment options, easy access to data, and self-service capabilities.
Moreover, wealth management firms are expected to gain traction among various end-user industries, owing to the increase in wealth of individuals, healthy economic growth across the globe, and need for compliance with regulations. The trading and exchange firms segment is expected to grow at the highest CAGR, owing to the increased inclination of customers toward trading and exchange to improve the financial gains
Wealth Management Platform Market
The report covers all the major aspects of the wealth management platform market and provides an in-depth analysis for major countries across North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and Latin America. North America, owing to the early adoption of new and emerging technologies, coupled with expanding data, is expected to continue to dominate the market during the forecast period. APAC is expected to grow at the highest CAGR during the forecast period, owing to the growing data and increasing number of mergers and acquisitions in the region.
Lack of awareness of wealth management solutions and inadequate technical expertise among enterprise professionals are expected to act as the major challenges for the growth of the wealth management platform market. However, the rising innovations in the fintech industry as well as the increased adoption of blockchain and Artificial Intelligence (AI) technologies are expected to facilitate the adoption of wealth management platform solutions worldwide.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Market
4.2 Wealth Management Platform Market, By Region
4.3 Market Top 4 End-User Industries and Regions
4.4 Life Cycle Analysis, By Region, 2017
5 Market Overview and Industry Trends
5.1 Market Overview
5.3 Market Dynamics
220.127.116.11 Digitalization and Process Automation Optimizes Wealth Management Practices
18.104.22.168 Constant Rise in Global Hnwis
22.214.171.124 Compliance With Stringent Industry Regulations
126.96.36.199 Higher Dependency on Traditional Methods
188.8.131.52 Rising Innovations in the Fintech Industry
184.108.40.206 Adoption of Blockchain and AI in the Wealth Management Platform Market
220.127.116.11 Lack of Awareness About Wealth Management Solutions and Inadequate Technical Expertise Among Enterprise Professionals
5.4 Industry Trends
5.4.1 Use Cases
18.104.22.168 Use Case 1: Streamlining Operations With the Wealth Management Platform
22.214.171.124 Use Case 2: Generating Up-To-Date Reports in Minimal Time and Enhancing the Customer Relationship
126.96.36.199 Use Case 3: Easily Managing Customer Portfolios With the Wealth Management Platform
5.5 Regulations for the Wealth Management Industry
5.5.1 Markets in Financial Instruments Directive (MIFID)
5.5.2 Alternative Investment Fund Managers Directive (AIFMD)
5.5.3 Foreign Account Tax Compliance Act (FATCA)
5.5.4 Dodd-Frank Wall Street Reform and Consumer Protection Act
5.5.5 European Market Infrastructure Regulation (EMIR)
5.5.6 Anti-Money Laundering Directive 2015/849/EU (AMLD)
5.6 Innovation Spotlight
5.6.1 Integration of AI in Wealth Management
5.6.2 Introduction of Blockchain in Wealth Management Practices
6 Wealth Management Platform Market, By Advisory Model
6.2 Human Advisory
6.3 Robo Advisory
7 Market By Business Function
7.2 Financial Advice Management
7.3 Portfolio, Accounting, and Trading Management
7.4 Performance Management
7.5 Risk and Compliance Management
8 Market By Deployment Model
9 Wealth Management Platform Market, By End-User Industry
9.3 Investment Management Firms
9.4 Trading and Exchange Firms
9.5 Brokerage Firms
10 Wealth Management Platform Market, By Region
11 Competitive Landscape
11.2 Prominent Players in the Wealth Management Platform Market
11.3 Competitive Scenario
12 Company Profiles
- Profile Software
- SEI Investments Company
For more information about this report visit https://www.researchandmarkets.com/research/p56fbj/wealth_management?w=5
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SOURCE Research and Markets