Global Wealth Management Platform Market Report and Forecast 2023-2028

Global Wealth Management Platform Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global wealth management platform market attained a value of USD 5356.9 million in 2022. Aided by the increasing adoption of digital technologies in the financial sector and the growing need for personalised wealth management solutions, the market is further projected to grow at a CAGR of 14.0% between 2023 and 2028 to reach a value of USD 11696.23 million by 2028.

Wealth management platforms are software solutions that help financial advisors and wealth management firms provide investment advice, portfolio management, financial planning, and other wealth management services to their clients. These platforms enable efficient management of clients' assets and help in delivering personalised financial advice by leveraging data analytics, artificial intelligence (AI), and other advanced technologies. The growing need for personalised wealth management solutions is a key driver for the wealth management platform market. As the number of high-net-worth individuals (HNWIs) and affluent investors grows, the demand for customised financial advice and services also increases. Wealth management platforms enable advisors to provide personalised investment strategies and financial plans based on clients' individual risk profiles, financial goals, and investment preferences.

Another significant factor propelling the growth of the wealth management platform market is the increasing adoption of digital technologies in the financial sector. The digital transformation of the financial industry has led to the development of advanced wealth management platforms that offer seamless user experiences, data-driven insights, and advanced analytics capabilities. This has made it easier for advisors to manage clients' portfolios and provide more accurate investment advice.

In addition to digital transformation, the growing need for regulatory compliance is driving the adoption of wealth management platforms. Financial firms are required to comply with various regulations and guidelines concerning transparency, data protection, and anti-money laundering. Wealth management platforms can help firms meet these regulatory requirements by automating processes, maintaining accurate records, and providing advanced reporting capabilities.

The integration of AI and machine learning in wealth management platforms is another trend shaping the wealth management platform market. These advanced technologies enable platforms to analyse vast amounts of data, identify trends, and generate insights that can help advisors make more informed investment decisions. AI-powered wealth management platforms can also offer personalised financial advice, risk analysis, and portfolio optimisation, further enhancing the overall client experience. Such advantages are fuelling the growth of the wealth management platform market.

Market Segmentation

The market can be divided on the basis of deployment type, end use, and region.

Market Division by Deployment Type:

• On-Premises
• Cloud

Market Breakup by End Use:

• Banks
• Trading Firms
• Brokerage Firms
• Investment Management Firms
• Others

Market Segregation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global wealth management platform companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Avaloq Group AG
• Temenos AG
• Fidelity National Information Services, Inc.
• Prometeia S.p.A
• Backbase B.V
• Others

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.