About Private Wealth Management Software
Private wealth management is investment advisory practises which incorporates financial planning, portfolio management and number of financial services. Private wealth management involve solving financial situation and achieving financial goals with the help of financial advisor. It is primarily useful for high-net-worth individuals. Several types of institutions, large banks, trading advisory offers private wealth management. Geographically, North America region is expected to grow with the highest market share over the forecast period followed by Europe and Asia Pacific. Presence of leading market players creating hub for Private Wealth Management Software providers impacting on market profitability in better manner.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Market players are focusing on providing private wealth management software with higher quality along with complying customer retention activities to fascinate more end users. They are also focusing on the introduction of numerous advanced & attractive features to reach a newer consumer base. The market is fragmented owing to the presence of several international and local providers. The high focus on the offering cost effective properties. Besides, the industry profitability has led the entry of new players, in turn, increasing the level of rivalry in the already competitive market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Private Wealth Management Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sage Intacct, Inc. (United States), Avaloq (Switzerland), Comarch (Poland), CREALOGIX (Switzerland), Contemi (Singapore), Jacobi Capital Management LLC (United States), AdvisorEngine, Inc. (United States), InStream, LLC (United States), FinFolio (United States), Wells Fargo (United States), Merrill Private Wealth Management (United States), Morgan Stanley (United States), UBS (Switzerland), JP Morgan Asset Management (United States), SAP Ariba (United States), William Blair (United States), Advisor Group (United States) and State Street Global Advisors (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Private Wealth Management Software market by Type (Cloud and On Premise), Application (Financial Advice Management, Asset Protection & Capital Preservation, Tax Management, Risk & Compliance Management, Portfolio Management, Estate Planning, Mortgage Planning and Others (Billing and Benchmarking)) and Region.
On the basis of geography, the market of Private Wealth Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Enterprise Size, the sub-segment i.e. SMEs will boost the Private Wealth Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Providers, the sub-segment i.e. Banks will boost the Private Wealth Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Higher Adoption of Private Wealth Management Software for Capital Preservation
Market Growth Drivers:
Increasing High Net worth (HNWIs) Population and Digitalization and Process Automation Optimizes Wealth Management Practices
Challenges:
Lack of Awareness about Private Wealth Management Offerings
Restraints:
Dependency on Traditional Methods
Opportunities:
Growing Financial Planning Awareness and Portfolio Management and Rising Technological Advancements like use of AI in Software for Streamline Financial Modelling
Key Target Audience
Private Wealth Management Software Providers, Financial Industrialist, Trading Advisory, BFSI Industry, Third Party Payable Providers and New Entrants/Investors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.