GVR Report cover Wealth Management Software Market Size, Share & Trends Report

Wealth Management Software Market Size, Share & Trends Analysis Report By Advisory Mode (Human, Robo), By Enterprise Size (Large, SMEs), By End-use, By Deployment, By Application, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-3-68038-071-2
  • Number of Pages: 159
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2021
  • Industry: Technology

Report Overview

The global wealth management software market size was valued at USD 4.27 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 13.9% from 2023 to 2030. The growth of the market can be attributed to the growing adoption of the latest technologies in wealth management advisory. Advances in financial technology, and subsequently, an entirely new approach being pursued to automate and improve the delivery of financial services is expected to contribute to the growth of the market over the forecast period. As such, the growing adoption of financial technology for wealth management bodes well for the growth of the market.

U.S. wealth management software market size, by advisory mode, 2020 - 2030 (USD Million)

The increasing need to automate the wealth management process is anticipated to propel the growth of the market over the forecast period. Wealth management platforms can serve as a cost-effective alternative for users looking forward to automating workflow and managing wealth. Apart from an open architecture, these platforms can also provide omnibus access and help in digitalizing the overall wealth management process. These platforms can also be easily integrated into various wealth administration applications. Wealth managers have realized that affluent clients are focusing aggressively on diversifying their investments, meeting their personal goals, maintaining financial security, and protecting their wealth.

However, a looming lack of adequate knowledge about investment is keeping these affluent clients from fully achieving their financial goals. Hence, wealth managers have started using wealth management solutions to provide their clients with more tailored and holistic investment services. This is emerging among the major factors driving the adoption of wealth management software. The growing preference for digital investment management solutions among High-Net-Worth Individuals (HNWIs) is anticipated to propel the growth of the market. HNWIs are demanding more control and transparency in the way wealth managers are managing their wealth. At this juncture, wealth management software can guarantee HNWIs the level of control and transparency they desire in the management of their wealth.

Wealth management solutions can also help HNWIs in strategizing their wealth management plans more effectively using various analytical tools. The adoption of innovative advisor technology is gaining significant traction. Machine Learning (ML) and Artificial Intelligence (AI) capabilities are particularly helping financial advisors in interpreting and analyzing large volumes of data and drafting better investment strategies for their clients. However, continued reliance on conventional asset management processes is challenging the growth of the market. Various other factors, such as lack of awareness about wealth management platforms and inadequate technical expertise among enterprise professionals are expected to restrain the growth of the market.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic is expected to open new growth opportunities for the market. A myriad of social, political, and economic challenges has become apparent across the globe in the wake of the outbreak of the pandemic. These challenges are affecting both firms and investors. On the other hand, wealth management trends are also undergoing a paradigm shift and financial advisors are increasingly using wealth management solutions to manage accounting, estate planning, tax services, investment planning, and retirement planning, thereby driving the growth of the market.

Moreover, as part of the efforts to ensure the health and safety of clients, partners, employees, and other parties, particularly in the wake of the outbreak of the pandemic, wealth management firms are aggressively shifting to remote working models. The remote-first approach extends well beyond the financial workforce and puts a strong emphasis on adequate investments in client communications, remote onboarding, and advisory models.

Advisory Mode Insights

The human advisory mode segment dominated the market in 2022 and accounted for the largest share of 57.0% of the global revenue. Human advisory remains the first preference for several HNWIs across the globe owing to security concerns. Moreover, human advisory services also help in strengthening relationships with the clients and conveying and communicating wealth management strategies and plans to them more efficiently. However, the trends are changing gradually and clients have started preferring the hybrid advisory model over the human advisory model.

The robo advisory segment is anticipated to register the fastest CAGR over the forecast period. Robo advisors tend to be highly accurate, efficient, and more accessible as compared to other modes. Hence, the robo advisory platform is gradually emerging as a cost-effective alternative for several retail investors owing to the various benefits it can offer, such as ease of use, low-cost fee structure, and low to zero account minimums. Various factors, such as the intensifying competition, evolving client requirements, and rapidly changing market dynamics, are also expected to create new growth opportunities for the robo advisory segment.

Deployment Insights

The cloud segment dominated the market in 2022 and accounted for the maximum share of more than 56.0% of the global revenue. The segment is estimated to expand further at the fastest CAGR retaining the leading position throughout the forecast period. Several businesses across the globe are preferring cloud-based solutions owing to various benefits they can offer, such as scalability, agility, and easy access to data, among others. The cost-effectiveness and scalability offered by the cloud platform are allowing companies to develop innovative wealth management platforms more efficiently.

Financial advisory firms across the globe are also focusing on adopting cloud-based solutions as part of their efforts to reduce operational costs. The on-premise segment is anticipated to witness significant growth over the forecast period. Several organizations still prefer on-premise deployment of solutions to ensure a higher level of control over all the systems and data. The on-premise deployment model also allows organizations to have more control over the implementation of software. While on-premise solutions ensure that business data is stored and handled internally, it also necessitates businesses to appoint dedicated, in-house IT staff for support and maintenance purposes.

Enterprise Size Insights

The large enterprises segment dominated the market in 2022 and accounted for the highest revenue share of more than 57.0%. On the basis of enterprise size, the global market has been bifurcated into large enterprises and Small & Medium Enterprises (SMEs). Large enterprises across the globe are focusing on implementing new technical functionalities, and storage and processing technologies. Moreover, computing resources are getting more reliable, cheaper, and widely deployable. Hence, large-scale firms are trying to exploit all the opportunities that are critical to ensure success and growth in the long term.

Large enterprises are also focusing on adopting cloud-based wealth management solutions to help in managing the digital assets, accounting operations, and funds of their clients. The Small & Medium Enterprises(SMEs) segment is anticipated to register the fastest growth rate over the forecast period. The growing demand for wealth monitoring software by SMEs to effectively meet the regulatory requirements and to condense the asset monitoring costs is anticipated to drive the growth of the segment. The growing number of small & medium enterprises in emerging economies is also driving the demand for wealth management solutions.

Application Insights

The portfolio, accounting, & trading management segment dominated the market in 2022 and accounted for a revenue share of more than 23.0%. At a time when the demand for portfolio management and trading solutions is increasing; portfolio, accounting, & trading management solutions are allowing trading managers to concentrate on collaborative activities and serve their customers in a better manner. Portfolio, accounting, & trading managers are under severe pressure to effectively handle the data of their existing customers and are hence adopting wealth management solutions aggressively.

Wealth managers are also using portfolio, accounting, & trading management platforms to handle the financial data of their clients and effectively support them with the most profitable decision-making. The financial advice & management segment is anticipated to register the fastest CAGR over the forecast period. Several businesses across the globe are focusing on accelerating digitization, increasing operational efficiency, and strengthening client relationships, which is expected to propel the adoption of financial advice & management solutions across various end-use industries.

Nowadays, several wealth management firms are using wealth management software to manage their multiple clients more effectively. Integrated financial advice & management technology-enabled solutions help financial managers in collaborating with their clients to create investment proposals, identify financial goals, and effectively deliver financial advice.

End-use Insights

The banks segment dominated the market in 2022 and accounted for a revenue share of more than 28.0%. As the global economy continues to strengthen gradually, banks are anticipated to play a key role in managing the growing assets and wealth of individuals. Moreover, banks are also leveraging wealth management software to ensure a client-centric approach. Numerous wealth management software providers are focusing on providing end-to-end wealth management and processing solutions to cater to the evolving needs of banks, drive efficiency throughout banks’ business, and help banks in operating seamlessly in global markets.

Global wealth management software market share, by end-use, 2021 (%) 

The trading & exchange firms segment is anticipated to register the fastest CAGR over the forecast period. The evolving technological capabilities of wealth management solutions are expected to open new opportunities for the adoption of wealth management software for trading & exchange purposes. Trading & exchange firms are increasingly using wealth management solutions to effectively manage the assets of their clients. Furthermore, the growing digitalization across trading firms is efficiently allowing clients to access their trading accounts and effectively understand the progress of their financial portfolio, thereby creating new growth opportunities for the segment.

Regional Insights

North America dominated the market in 2022 and accounted for a revenue share of more than 36.0%. The number of HNWIs in the region is growing continuously. These HNWIs are increasingly subscribing to advanced financial advisory solutions. North America is also home to some of the prominent market players. The increasing digitalization across the financial sector in several North American countries is another factor accentuating the growth of the regional market. Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period.

Wealth Management Software Market Trends by Region

The region typically holds promising growth opportunities for robo advisors owing to the increasing adoption of digital platforms. The combination of innovative analytics and advanced algorithms is encouraging techno-savvy customers to opt for robo advisory tools to efficiently meet their investment requirements. Furthermore, the increasing number of SMEs in emerging economies, such as China and India, is expected to create growth opportunities for the market. In addition, the latest IT infrastructure being adopted by SMEs in the region is expected to drive the demand for digital financial services to enhance their business capabilities.

Key Companies & Market Share Insights

The market is moderately fragmented. Prominent players are pursuing numerous strategies, such as strategic joint ventures & partnerships, product innovation, geographical expansion, mergers & acquisitions, and research & development initiatives, to cement their foothold in the market. Market players are also focusing on offering cloud-based solutions to both large-sized and Small- & Medium-sizedEnterprises (SMEs). Moreover, these solutions are being particularly designed to help financial firms in managing the assets and wealth of the clients efficiently. Vendors are focusing on offering hybrid services, including personalized and standardized advice, to their clients.

The need for standardized and personalized advice is stemming mainly from the increasing demand for robust and consistent solutions from consumers. As a result, market players are focusing on delivering computer-driven analysis to provide standardized advisory services. Market players are particularly focusing on mergers & acquisitions to strengthen their foothold in the market. For instance, in August 2021, Objectway S.p.A. announced the acquisition of Die Software Peter Fitzon GmbH (DSW), a provider of core banking solutions in Germany. OBJECTWAY S.p.A. expects the acquisition to strengthen its wealth and asset management offerings with a comprehensive and solid core banking platform. Some of the prominent players in the global wealth management software market include:

  • Comarch SA

  • Dorsum Ltd.

  • Fidelity National Information Services, Inc.

  • Finantix

  • Fiserv, Inc.

  • Objectway S.p.A.

  • Profile Software

  • SEI Investments Company

  • SS&C Technologies Holdings, Inc.

  • Temenos Headquarters SA


Wealth Management Software Market Report Scope

Report Attribute


Market size value in 2023

USD 4.85 billion

Revenue forecast in 2030

USD 12.07 billion

Growth rate

CAGR of 13.9% from 2023 to 2030

Base year of estimation


Historical data

2017 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company market share, competitive landscape, growth factors, and trends

Segments covered

Advisory mode, deployment, enterprise size, application, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; Germany; U.K.; China; India; Japan Brazil

Key companies profiled

Comarch SA; Dorsum Ltd.; Fidelity National Information Services, Inc.; Finantix; Fiserv, Inc.; Objectway S.p.A.; Profile Software; SEI Investments Company; SS&C Technologies Holdings, Inc.; Temenos Headquarters SA

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Wealth Management Software Market Segmentation

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global wealth management software market report based on advisory mode, deployment, enterprise size, application, end-use, and region:

  • Advisory Mode Outlook (Revenue, USD Million, 2017 - 2030)

    • Human Advisory

    • Robo Advisory

    • Hybrid

  • Deployment Outlook (Revenue, USD Million, 2017 - 2030)

    • Cloud

    • On-premise

  • Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)

    • Large Enterprises

    • Small & Medium Enterprises

  • Application Outlook (Revenue, USD Million, 2017 - 2030)

    • Financial Advice & Management

    • Portfolio, Accounting, & Trading Management

    • Performance Management

    • Risk & Compliance Management

    • Reporting

    • Others

  • End-use Outlook (Revenue, USD Million, 2017 - 2030)

    • Banks

    • Investment Management Firms

    • Trading & Exchange Firms

    • Brokerage Firms

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

    • Middle East & Africa

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