Wealth Management Platform Market – Highlights

A wealth management platform offers financial and investment advisory services, aids in accounting and trading management, fund management, and client management for high net worth individuals as well as small businesses while staying compliant with regulations. The global wealth management platform market is anticipated to garner USD 4 Bn, expanding at a noteworthy CAGR of 15% by the end of 2018-2023, asserts Market Research Future (MRFR) in an extensive study.

The wealth management platform market is experiencing remarkable growth due to the hyper-competitive nature of the investment industry. There has been a steep rise in the number of High Net Worth Individuals (HNWIs) in recent years which coupled with the dearth of experienced well-trained wealth managers has provided a tremendous opportunity to the global wealth management platform market.

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Digital transformation has played a crucial role in enhancing the growth of the global wealth management platform market. Wealth management clients are increasingly becoming accustomed to online offerings. Such platforms reshape the value chain with relatively standard, easy-to-understand, transparent online experience through various channel which has spurred the adoption of such platforms.

Tightening regulations play an important role in the growth of the global wealth management platform market. The recent onslaught of meeting newly tightened industry rules and high-cost implications associated with compliance has encouraged firms to make technology upgrade to wealth management platforms.

Other drivers include growing need to protect sensitive client data and client preference of hybrid advisory model over human advisory model which fuel the growth of the global wealth management platform market.

On the downside, the growth of the global wealth management platform market might be hindered by increased reliance on traditional wealth management methods, inadequate technical expertise, and lack of awareness about wealth management solutions.

Wealth Management Platform Market Key Company Analyzed In Report Are:

The key players in the global wealth management platform market include Objectway (Italy), Fiserv Inc. (US), Finantix (Italy), Dorsum Investment Software (Hungary), SS&C Technologies (US), SEI Investment Company (US), Fidelity National Information Services Inc. (US), Comarch (Poland), Invest Edge (US), Temenos (Switzerland), Broadridge Financial Solutions (US), Profile Software (UK).

Wealth Management Platform - Industry Updates

In January 2019, OroWealth, a Fintech startup announced the acquisition of Wealth Trust, a wealth management app.

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Wealth Management Platform Market – Segmentation

The global wealth management platform market has been segmented based on advisory model, business functions, deployment model, and end-users.

By advisory model, the global wealth management platform market has been segmented into robo-advisory, human advisory, and hybrid advisory.

By business function, the global wealth management platform market has been segmented into financial advice management, portfolio, accounting, trading management, client and fund management, performance management, risk and compliance management, reporting, and others (billing and benchmarking).

By deployment model, the global wealth management platform market has been segmented into on-cloud, and on-premise.

By end user, the global wealth management platform market has been segmented into banks, trading & exchange firms, investment firms, brokerage firms, asset management firms, and others.

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Wealth Management Platform Market- Regional Analysis

By region, the global wealth management platform market has been segmented into North America, Europe, Asia-Pacific (APAC), the Rest of the world.

APAC is expected to be the fastest growing market for wealth management platform. Growing number of high net worth Individuals and wealth at a rate of 12.1% and 14.8% respectively in 2017 drive the APAC market.

Europe grew by 7.3% and 7.8% respectively in terms of high net worth individual population which drives the market in Europe.

North America is expected to hold the lion's share of the global wealth management platform market. North America high net worth individual population and wealth exhibited a growth rate of 9.9% and 10.3% respectively. The emergence of new technologies such as robo-advisory models and the presence of key players in the region drives the market in North America.

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