Financial Advisory
Global Financial Advisory Market to Reach US$135.3 Billion by 2030
The global market for Financial Advisory estimated at US$100.1 Billion in the year 2023, is expected to reach US$135.3 Billion by 2030, growing at a CAGR of 4.4% over the analysis period 2023-2030. Corporate Finance Service, one of the segments analyzed in the report, is expected to record a 4.1% CAGR and reach US$44.7 Billion by the end of the analysis period. Growth in the Tax Advisory Service segment is estimated at 4.5% CAGR over the analysis period.
The U.S. Market is Estimated at US$26.9 Billion While China is Forecast to Grow at 4.1% CAGR
The Financial Advisory market in the U.S. is estimated at US$26.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$21.3 Billion by the year 2030 trailing a CAGR of 4.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.7% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR.
Global Financial Advisory Market - Key Trends & Drivers Summarized
What Constitutes Financial Advisory Services?
Financial advisory services encompass a broad range of services designed to assist individuals, businesses, and organizations in managing their financial affairs. This includes strategic investment planning, wealth management, retirement planning, tax advising, and legal estate planning. The demand for these services is driven by the complexity of modern financial markets and the increasing need for specialized knowledge in managing personal and corporate finances. Financial advisors and firms use their expertise to tailor strategies that help clients achieve their financial goals, adhering to regulatory standards and adapting to market changes.
How Is Demographic Change Impacting the Financial Advisory Market?
Demographic shifts, such as aging populations in developed countries and growing middle classes in developing regions, are significantly impacting the demand for financial advisory services. Older individuals are seeking retirement planning and wealth management services to secure their financial futures, while younger, affluent individuals and emerging middle classes are looking for investment advice to optimize returns and manage wealth. Additionally, as global wealth continues to rise, the need for customized financial advisory services becomes more pronounced, creating opportunities for advisory firms to expand their offerings and client base.
What Innovations Are Transforming Financial Advisory Services?
The financial advisory sector is undergoing rapid transformation due to technological advancements. Robo-advisors, which provide automated, algorithm-driven financial planning services with minimal human supervision, are becoming increasingly popular, especially among tech-savvy, younger investors. The integration of artificial intelligence and machine learning in financial analysis and customer service is also enhancing the efficiency and personalization of financial advice. Furthermore, the use of big data analytics is enabling advisors to gain deeper insights into market trends and client preferences, facilitating more informed decision-making and strategy development.
What Are the Primary Growth Drivers for the Financial Advisory Market?
The growth in the financial advisory market is driven by several factors that reflect changing economic conditions, regulatory developments, and technological advancements. The increasing complexity of financial products and regulations necessitates professional advice and management, particularly in areas like tax compliance and estate planning. Economic globalization also drives demand, as individuals and businesses seek advice on international investments and operations. Moreover, technological innovations that improve service delivery and client engagement, such as digital platforms and automated tools, are expanding the market reach. The growing financial awareness and literacy rates among the general population further propel the need for financial advisory services, making them integral to personal financial success and business profitability.
Select Competitors (Total 312 Featured) -- Accenture PLC
- Booz Allen Hamilton
- Boston Consulting Group, The
- Deloitte Touche Tohmatsu Ltd.
- Ernst & Young Global Limited
- KPMG International Cooperative
- McKinsey & Company
- Oliver Wyman
- PWC
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- I. METHODOLOGY
- II. EXECUTIVE SUMMARY
- 1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Financial Advisory – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- 2. FOCUS ON SELECT PLAYERS
- 3. MARKET TRENDS & DRIVERS
- Increasing Demand for Digital Financial Advisory Solutions Propels Growth in Fintech Integration
- Rising Focus on Wealth Management and Personal Finance Strengthens Business Case for Financial Advisors
- Growth in Global High-Net-Worth Individual (HNWI) Population Expands Addressable Market for Financial Advisory Services
- Surge in Demand for ESG and Sustainable Investments Drives Adoption of Specialized Financial Advisory Services
- Rising Complexity of Global Taxation and Compliance Regulations Spurs Demand for Financial Advisory
- Expansion of Mergers and Acquisitions (M&A) Activity Strengthens Demand for Corporate Financial Advisory Services
- Increasing Adoption of Artificial Intelligence and Data Analytics in Financial Planning Tools Drives Market Growth
- Growth in Retirement Planning and Pension Funds Spurs Demand for Long-Term Financial Advisory Solutions
- Rising Interest in Digital Assets and Cryptocurrencies Expands Opportunities for Financial Advisory in Alternative Investments
- Increasing Focus on Risk Management and Market Volatility Strengthens Demand for Customized Financial Advisory
- Growing Need for Succession Planning and Estate Management Spurs Demand for Family Office and Wealth Advisory Services
- 4. GLOBAL MARKET PERSPECTIVE
- TABLE 1: World Financial Advisory Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
- TABLE 2: World Recent Past, Current & Future Analysis for Financial Advisory by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 3: World Historic Review for Financial Advisory by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 4: World 16-Year Perspective for Financial Advisory by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2014, 2024 & 2030
- TABLE 5: World Recent Past, Current & Future Analysis for Corporate Finance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 6: World Historic Review for Corporate Finance by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 7: World 16-Year Perspective for Corporate Finance by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 8: World Recent Past, Current & Future Analysis for Tax Advisory by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 9: World Historic Review for Tax Advisory by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 10: World 16-Year Perspective for Tax Advisory by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 11: World Recent Past, Current & Future Analysis for Accounting Advisory by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 12: World Historic Review for Accounting Advisory by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 13: World 16-Year Perspective for Accounting Advisory by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 14: World Recent Past, Current & Future Analysis for Risk Management by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 15: World Historic Review for Risk Management by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 16: World 16-Year Perspective for Risk Management by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 17: World Recent Past, Current & Future Analysis for Transaction Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 18: World Historic Review for Transaction Services by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 19: World 16-Year Perspective for Transaction Services by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- TABLE 20: World Recent Past, Current & Future Analysis for Other Service Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 21: World Historic Review for Other Service Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 22: World 16-Year Perspective for Other Service Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2014, 2024 & 2030
- III. MARKET ANALYSIS
- UNITED STATES
- Financial Advisory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
- TABLE 23: USA Recent Past, Current & Future Analysis for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 24: USA Historic Review for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 25: USA 16-Year Perspective for Financial Advisory by Service Type - Percentage Breakdown of Value Sales for Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types for the Years 2014, 2024 & 2030
- CANADA
- TABLE 26: Canada Recent Past, Current & Future Analysis for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 27: Canada Historic Review for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 28: Canada 16-Year Perspective for Financial Advisory by Service Type - Percentage Breakdown of Value Sales for Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types for the Years 2014, 2024 & 2030
- JAPAN
- Financial Advisory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
- TABLE 29: Japan Recent Past, Current & Future Analysis for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 30: Japan Historic Review for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 31: Japan 16-Year Perspective for Financial Advisory by Service Type - Percentage Breakdown of Value Sales for Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types for the Years 2014, 2024 & 2030
- CHINA
- Financial Advisory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
- TABLE 32: China Recent Past, Current & Future Analysis for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 33: China Historic Review for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 34: China 16-Year Perspective for Financial Advisory by Service Type - Percentage Breakdown of Value Sales for Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types for the Years 2014, 2024 & 2030
- EUROPE
- Financial Advisory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
- TABLE 35: Europe Recent Past, Current & Future Analysis for Financial Advisory by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
- TABLE 36: Europe Historic Review for Financial Advisory by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 37: Europe 16-Year Perspective for Financial Advisory by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2014, 2024 & 2030
- TABLE 38: Europe Recent Past, Current & Future Analysis for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 39: Europe Historic Review for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 40: Europe 16-Year Perspective for Financial Advisory by Service Type - Percentage Breakdown of Value Sales for Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types for the Years 2014, 2024 & 2030
- FRANCE
- Financial Advisory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
- TABLE 41: France Recent Past, Current & Future Analysis for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 42: France Historic Review for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 43: France 16-Year Perspective for Financial Advisory by Service Type - Percentage Breakdown of Value Sales for Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types for the Years 2014, 2024 & 2030
- GERMANY
- Financial Advisory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
- TABLE 44: Germany Recent Past, Current & Future Analysis for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 45: Germany Historic Review for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 46: Germany 16-Year Perspective for Financial Advisory by Service Type - Percentage Breakdown of Value Sales for Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types for the Years 2014, 2024 & 2030
- ITALY
- TABLE 47: Italy Recent Past, Current & Future Analysis for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 48: Italy Historic Review for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 49: Italy 16-Year Perspective for Financial Advisory by Service Type - Percentage Breakdown of Value Sales for Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types for the Years 2014, 2024 & 2030
- UNITED KINGDOM
- Financial Advisory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
- TABLE 50: UK Recent Past, Current & Future Analysis for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 51: UK Historic Review for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 52: UK 16-Year Perspective for Financial Advisory by Service Type - Percentage Breakdown of Value Sales for Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types for the Years 2014, 2024 & 2030
- REST OF EUROPE
- TABLE 53: Rest of Europe Recent Past, Current & Future Analysis for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 54: Rest of Europe Historic Review for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 55: Rest of Europe 16-Year Perspective for Financial Advisory by Service Type - Percentage Breakdown of Value Sales for Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types for the Years 2014, 2024 & 2030
- ASIA-PACIFIC
- Financial Advisory Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
- TABLE 56: Asia-Pacific Recent Past, Current & Future Analysis for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 57: Asia-Pacific Historic Review for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 58: Asia-Pacific 16-Year Perspective for Financial Advisory by Service Type - Percentage Breakdown of Value Sales for Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types for the Years 2014, 2024 & 2030
- REST OF WORLD
- TABLE 59: Rest of World Recent Past, Current & Future Analysis for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
- TABLE 60: Rest of World Historic Review for Financial Advisory by Service Type - Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
- TABLE 61: Rest of World 16-Year Perspective for Financial Advisory by Service Type - Percentage Breakdown of Value Sales for Corporate Finance, Tax Advisory, Accounting Advisory, Risk Management, Transaction Services and Other Service Types for the Years 2014, 2024 & 2030
- IV. COMPETITION
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