Wealth Management Market Size, Share, Growth Analysis, By Business Model(Human Advisory, Robo Advisory (Direct Plan-Based/Goal-Based, Comprehensive Wealth Advisory), Hybrid Advisory), By Provider(FinTech Advisors, Banks, Traditional Wealth Managers, and Others), By End User(Retail, High Net Worth Individuals (HNIs)), By Region(North America, Europe, Asia-Pacific, Latin America), By Region - Industry Forecast 2024-2031

Wealth Management Market size was valued at USD 3.75 billion in 2022 and is poised to grow from USD 4.27 billion in 2023 to USD 12.07 billion by 2031, growing at a CAGR of 13.9% in the forecast period (2024-2031).

To meet the demands of wealthy clients, wealth management is an investment advising service that combines financial counselling and investments. In general, it offers a customized plan under the portfolio of wealth services. It also includes retirement planning, accounting and tax services, estate and legal planning, and strategies to reach certain financial goals over time. These services are primarily provided to high-net-worth individuals (HNIs), who have a dedicated wealth manager assigned to them who makes suggestions for investors' fund allocation. Strong demand for alternative assets like intellectual property and private equity is what propels the global wealth management market. 

In addition, the emergence of technology-driven businesses known as FinTechs has radically disrupted the global wealth management market. As mentioned earlier, the industry is on the rise due to the numerous advantages associated with wealth management such as helping in coming up with financial strategies, alleviation of financial worries, and the increasing popularity of technological offerings. However, the growth of the market is constrained by several factors which include; lack of pricing openness, high-cost structures and strict laws and regulations governing the operations of wealth management firms. On the other hand, most of the high net worth and ultra-high net worth individuals still have a certain threshold value below which they will not venture on their own, for this reason, developing economies present wealth management businesses with great opportunities for expanding their product offerings.

US Wealth Management Market is poised to grow at a sustainable CAGR for the next forecast year.