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

Market segmentation

  • Wealth Management Software Advisory Mode Outlook (Revenue, USD Million, 2017 - 2030)
    • Human Advisory
    • Robo Advisory
    • Hybrid
  • Wealth Management Software Deployment Outlook (Revenue, USD Million, 2017 - 2030)
    • Cloud
    • On-premise
  • Wealth Management Software Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)
    • Large Enterprises
    • Small & Medium Enterprises
  • Wealth Management Software Application Outlook (Revenue, USD Million, 2017 - 2030)
    • Financial Advice & Management
    • Portfolio, Accounting, & Trading Management
    • Performance Management
    • Risk & Compliance Management
    • Reporting
    • Others
  • Wealth Management Software End-use Outlook (Revenue, USD Million, 2017 - 2030)
    • Banks
    • Investment Management Firms
    • Trading & Exchange Firms
    • Brokerage Firms
    • Others
  • Wealth Management Software Regional Outlook (Revenue, USD Million, 2017 - 2030)
    • North America
      • North America Wealth Management Software Market, by Advisory Mode
        • Human Advisory
        • Robo Advisory
        • Hybrid
      • North America Wealth Management Software Market, by Deployment
        • Cloud
        • On-premise
      • North America Wealth Management Software Market, by Enterprise Size
        • Large Enterprises
        • Small & Medium Enterprises
      • North America Wealth Management Software Market, by Application
        • Financial Advice & Management
        • Portfolio, Accounting, & Trading Management
        • Performance Management
        • Risk & Compliance Management
        • Reporting
        • Others
      • North America Wealth Management Software Market, by End-Use
        • Banks
        • Investment Management Firms
        • Trading & Exchange Firms
        • Brokerage Firms
        • Others
      • U.S.
        • U.S. Wealth Management Software Market, by Advisory Mode
          • Human Advisory
          • Robo Advisory
          • Hybrid
        • U.S. Wealth Management Software Market, by Deployment
          • Cloud
          • On-premise
        • U.S. Wealth Management Software Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • U.S. Wealth Management Software Market, by Application
          • Financial Advice & Management
          • Portfolio, Accounting, & Trading Management
          • Performance Management
          • Risk & Compliance Management
          • Reporting
          • Others
        • U.S. Wealth Management Software Market, by End-Use
          • Banks
          • Investment Management Firms
          • Trading & Exchange Firms
          • Brokerage Firms
          • Others
      • Canada
        • Canada Wealth Management Software Market, by Advisory Mode
          • Human Advisory
          • Robo Advisory
          • Hybrid
        • Canada Wealth Management Software Market, by Deployment
          • Cloud
          • On-premise
        • Canada Wealth Management Software Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • Canada Wealth Management Software Market, by Application
          • Financial Advice & Management
          • Portfolio, Accounting, & Trading Management
          • Performance Management
          • Risk & Compliance Management
          • Reporting
          • Others
        • Canada Wealth Management Software Market, by End-Use
          • Banks
          • Investment Management Firms
          • Trading & Exchange Firms
          • Brokerage Firms
          • Others
    • Europe
      • Europe Wealth Management Software Market, by Advisory Mode
        • Human Advisory
        • Robo Advisory
        • Hybrid
      • Europe Wealth Management Software Market, by Deployment
        • Cloud
        • On-premise
      • Europe Wealth Management Software Market, by Enterprise Size
        • Large Enterprises
        • Small & Medium Enterprises
      • Europe Wealth Management Software Market, by Application
        • Financial Advice & Management
        • Portfolio, Accounting, & Trading Management
        • Performance Management
        • Risk & Compliance Management
        • Reporting
        • Others
      • Europe Wealth Management Software Market, by End-Use
        • Banks
        • Investment Management Firms
        • Trading & Exchange Firms
        • Brokerage Firms
        • Others
      • U.K.
        • U.K. Wealth Management Software Market, by Advisory Mode
          • Human Advisory
          • Robo Advisory
          • Hybrid
        • U.K. Wealth Management Software Market, by Deployment
          • Cloud
          • On-premise
        • U.K. Wealth Management Software Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • U.K. Wealth Management Software Market, by Application
          • Financial Advice & Management
          • Portfolio, Accounting, & Trading Management
          • Performance Management
          • Risk & Compliance Management
          • Reporting
          • Others
        • U.K. Wealth Management Software Market, by End-Use
          • Banks
          • Investment Management Firms
          • Trading & Exchange Firms
          • Brokerage Firms
          • Others
      • Germany
        • Germany Wealth Management Software Market, by Advisory Mode
          • Human Advisory
          • Robo Advisory
          • Hybrid
        • Germany Wealth Management Software Market, by Deployment
          • Cloud
          • On-premise
        • Germany Wealth Management Software Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • Germany Wealth Management Software Market, by Application
          • Financial Advice & Management
          • Portfolio, Accounting, & Trading Management
          • Performance Management
          • Risk & Compliance Management
          • Reporting
          • Others
        • Germany Wealth Management Software Market, by End-Use
          • Banks
          • Investment Management Firms
          • Trading & Exchange Firms
          • Brokerage Firms
          • Others
    • Asia Pacific
      • Asia Pacific Wealth Management Software Market, by Advisory Mode
        • Human Advisory
        • Robo Advisory
        • Hybrid
      • Asia Pacific Wealth Management Software Market, by Deployment
        • Cloud
        • On-premise
      • Asia Pacific Wealth Management Software Market, by Enterprise Size
        • Large Enterprises
        • Small & Medium Enterprises
      • Asia Pacific Wealth Management Software Market, by Application
        • Financial Advice & Management
        • Portfolio, Accounting, & Trading Management
        • Performance Management
        • Risk & Compliance Management
        • Reporting
        • Others
      • Asia Pacific Wealth Management Software Market, by End-Use
        • Banks
        • Investment Management Firms
        • Trading & Exchange Firms
        • Brokerage Firms
        • Others
      • China
        • China Wealth Management Software Market, by Advisory Mode
          • Human Advisory
          • Robo Advisory
          • Hybrid
        • China Wealth Management Software Market, by Deployment
          • Cloud
          • On-premise
        • China Wealth Management Software Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • China Wealth Management Software Market, by Application
          • Financial Advice & Management
          • Portfolio, Accounting, & Trading Management
          • Performance Management
          • Risk & Compliance Management
          • Reporting
          • Others
        • China Wealth Management Software Market, by End-Use
          • Banks
          • Investment Management Firms
          • Trading & Exchange Firms
          • Brokerage Firms
          • Others
      • India
        • India Wealth Management Software Market, by Advisory Mode
          • Human Advisory
          • Robo Advisory
          • Hybrid
        • India Wealth Management Software Market, by Deployment
          • Cloud
          • On-premise
        • India Wealth Management Software Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • India Wealth Management Software Market, by Application
          • Financial Advice & Management
          • Portfolio, Accounting, & Trading Management
          • Performance Management
          • Risk & Compliance Management
          • Reporting
          • Others
        • India Wealth Management Software Market, by End-Use
          • Banks
          • Investment Management Firms
          • Trading & Exchange Firms
          • Brokerage Firms
          • Others
      • Japan
        • Japan Wealth Management Software Market, by Advisory Mode
          • Human Advisory
          • Robo Advisory
          • Hybrid
        • Japan Wealth Management Software Market, by Deployment
          • Cloud
          • On-premise
        • Japan Wealth Management Software Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • Japan Wealth Management Software Market, by Application
          • Financial Advice & Management
          • Portfolio, Accounting, & Trading Management
          • Performance Management
          • Risk & Compliance Management
          • Reporting
          • Others
        • Japan Wealth Management Software Market, by End-Use
          • Banks
          • Investment Management Firms
          • Trading & Exchange Firms
          • Brokerage Firms
          • Others
    • Latin America
      • Latin America Wealth Management Software Market, by Advisory Mode
        • Human Advisory
        • Robo Advisory
        • Hybrid
      • Latin America Wealth Management Software Market, by Deployment
        • Cloud
        • On-premise
      • Latin America Wealth Management Software Market, by Enterprise Size
        • Large Enterprises
        • Small & Medium Enterprises
      • Latin America Wealth Management Software Market, by Application
        • Financial Advice & Management
        • Portfolio, Accounting, & Trading Management
        • Performance Management
        • Risk & Compliance Management
        • Reporting
        • Others
      • Latin America Wealth Management Software Market, by End-Use
        • Banks
        • Investment Management Firms
        • Trading & Exchange Firms
        • Brokerage Firms
        • Others
      • Brazil
        • Brazil Wealth Management Software Market, by Advisory Mode
          • Human Advisory
          • Robo Advisory
          • Hybrid
        • Brazil Wealth Management Software Market, by Deployment
          • Cloud
          • On-premise
        • Brazil Wealth Management Software Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • Brazil Wealth Management Software Market, by Application
          • Financial Advice & Management
          • Portfolio, Accounting, & Trading Management
          • Performance Management
          • Risk & Compliance Management
          • Reporting
          • Others
        • Brazil Wealth Management Software Market, by End-Use
          • Banks
          • Investment Management Firms
          • Trading & Exchange Firms
          • Brokerage Firms
          • Others
    • MEA
      • MEA Wealth Management Software Market, by Advisory Mode
        • Human Advisory
        • Robo Advisory
        • Hybrid
      • MEA Wealth Management Software Market, by Deployment
        • Cloud
        • On-premise
      • MEA Wealth Management Software Market, by Enterprise Size
        • Large Enterprises
        • Small & Medium Enterprises
      • MEA Wealth Management Software Market, by Application
        • Financial Advice & Management
        • Portfolio, Accounting, & Trading Management
        • Performance Management
        • Risk & Compliance Management
        • Reporting
        • Others
      • MEA Wealth Management Software Market, by End-Use
        • Banks
        • Investment Management Firms
        • Trading & Exchange Firms
        • Brokerage Firms
        • Others

Wealth Management Software Market Dynamics

Driver: Technological Development In Wealth Management Advisory

The wealth management sector is currently experiencing a major shift, tackling its issues by utilizing cutting-edge technologies like artificial intelligence, machine learning, and robotic process automation. The emphasis on financial advisory services has shifted from a traditional personal relationship approach to a more automated one, with a focus on affordable advisory services. Moreover, financial advisors worldwide are increasingly choosing the Registered Investment Advisor (RIA) model over wirehouse operating models, leading to a surge in demand for RIAs. The escalating amount of customer data has resulted in a growing need for secure and efficient data storage solutions. In addition, advancements in computing power have facilitated the development of artificial intelligence and machine learning algorithms. The rise in passive investments and the decline in client spending on financial advisory services have prompted asset managers to invest in technologies to reduce operating costs and meet regulatory scrutiny. Clients of wealth management firms are seeking data-driven and personalized investment insights, prompting these firms to adopt big data and analytics applications. Wealth management firms are also implementing cognitive applications to help them provide personalized advisory solutions and respond to client needs in real-time through a virtual expert advisor. Vendors in the wealth management software market are concentrating on providing cloud-based solutions. For example, in April 2021, Wealth Dynamix, a provider of Client Lifecycle Management (CLM) solutions, introduced a cloud-based CLMi SaaS solution for wealth management companies, which aided these firms in enhancing their customer relationship management.

Driver: Increasing Number Of Hnwis Globally

The global economy is on the rise due to an increase in trade and a recovery in manufacturing, along with the stabilization of commodity prices. This is anticipated to boost the population of High-Net-Worth Individuals (HNWI) and their wealth, which in turn is expected to fuel the demand for efficient and secure wealth management software in the future. HNWIs prefer pay-as-you-go and automated financial management services, which escalates the demand for wealth management software solutions. Moreover, the increasing number of HNWIs who lack experience in business and wealth management has resulted in a surge in demand for wealth advisory services. HNWIs are sensitive to the cost of wealth advisory services, which motivates wealth management firms to adopt more effective fee models. This is further expected to stimulate the demand for wealth management software in the future. To manage data efficiently, wealth management firms are concentrating on investing in advanced technologies such as intelligent automation and Artificial Intelligence (AI) to integrate into their existing business operations, thereby improving their data management capabilities.

Restrains: High Dependency On Traditional Asset Management Methods

To enhance their business performance, wealth management firms are turning to tools like data-driven analytics. However, a gap exists between data acumen, findings, and the application of these insights in value creation. This drawback is notably slowing down the adoption of wealth management software. Wealth management firms strive to invest in business innovations and new technologies to evolve and improve their advisory services. Yet, the need to reduce costs is obstructing the utilization of these tools. Analytics solutions provide forecasts that can be influenced by various factors, including inflation trends, consumer demands, and current market conditions. Any alteration in these associated factors can change the forecasts, thereby impacting the reliability and consistency of these solutions. This is another reason why individuals are hesitant to choose analytics solutions. The delay in adoption can also be attributed to several pitfalls in analytics, such as the lack of quality data, filtering of data outliers, and incorrect user statistical interpretation. Wealth management software solutions are also exposed to security vulnerabilities linked to undefined data and information risks. Businesses, in particular, encounter issues such as security breaches, and most of these threats originate from providers. These factors are predicted to result in a growing preference among individuals for traditional asset management methods.

What Does This Report Include?

This section will provide insights into the contents included in this wealth management software market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Wealth management software market qualitative analysis

  • Industry overview

  • Industry trends

  • Market drivers and restraints

  • Market size

  • Growth prospects

  • Porter’s analysis

  • PESTEL analysis

  • Key market opportunities prioritized

  • Competitive landscape

    • Company overview

    • Financial performance

    • Product benchmarking

    • Latest strategic developments

Wealth management software market quantitative analysis

  • Market size, estimates, and forecast from 2017 to 2030

  • Market estimates and forecast for product segments up to 2030

  • Regional market size and forecast for product segments up to 2030

  • Market estimates and forecast for application segments up to 2030

  • Regional market size and forecast for application segments up to 2030

  • Company financial performance

What questions do you have? Get quick response from our industry experts. Request a Free Consultation
pdf

GET A FREE SAMPLE

bck

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

cog

NEED A CUSTOM REPORT?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

esomar icon

ESOMAR certified & member

ISO

ISO Certified

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.

great place to work icon