About Wealth Succession Consulting
Wealth succession planning deals with the formulation of a financial strategy to grow the assets and ensure that these assets go to the right users at the right time. Wealth succession planning provides effective protection to the family's wealth which helps in reducing the inheritance taxes, probate fees, and other costs associated with it. The services involved with succession planning are business valuation, insurance, risk management, investment management, M&A advisory, and investment banking.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The global wealth succession consulting market is concentrated despite the presence of numerous players as the top players are hugely contributing to the market. The companies are focusing on strategic planning such as mergers & acquisitions and partnerships along with the launch of new services. It will maintain its competitive edge in the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Wealth Succession Consulting 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.
Vistra (Hong Kong), Progeny Group Limited (United Kingdom), Sikich LLP (United States), CliftonLarsonAllen LLP (United States), PwC (United Kingdom), Amicorp Group (Hong Kong), Aviva plc (United Kingdom), Aldrich Advisors (United States), Logan & Associates Ltd. (United States), Intertrust Group (Netherlands), RKL LLP (United States), TMF Group (Netherlands), Succession Wealth (United Kingdom), Boulay PLLP (United States), Emkay Wealth Management (India) and Aurtus Consulting LLP (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Wealth Succession Consulting market by , Application (Family, Shareholder and Business) and Region.
On the basis of geography, the market of Wealth Succession Consulting 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 Services, the sub-segment i.e. Business Valuation will boost the Wealth Succession Consulting market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Around eighty percent of Ultra-Wealthy Indians have been Reassessing Succession Planning for Wealth Management
Market Growth Drivers:
Growing Number of Individual Investors and Businesses Across the Developing Region and Need for the Financial Planning and Managing the Wealth Efficiently
Challenges:
Expensive Wealth Succession Consulting Services Hindering the Market
Restraints:
Geopolitical Issues Rising Across Several Regions Affecting the Wealth Succession Consulting Market
Opportunities:
Increasing Awareness about the Wealth Management and its Importance along with the Growing Number of Investors and Surging Demand for the Wealth Succession Consulting Among Family-Owned Businesses and Start-ups
Market Leaders and their expansionary development strategies
On 3rd March 2022, Aviva acquired an independent financial adviser (IFA) Succession Wealth for 385 million pounds, approximately a 7.1x multiple of the wealth management business’ 54.3 million pounds revenue for 2020. The acquisition will bolster Aviva’s presence in the wealth management space, enabling the insurance and pensions firm to expand its advice offering for customers.
On 18th Janaury 2022, Wealth management firm Succession Wealth acquired Pannells Financial Planning which manages 1.4bn pounds in client assets. With regard to businesses, it aids in securing the financial future of employees and the business through employee benefit schemes, and auto-enrolment programs.
Key Target Audience
Wealth Succession Consulting Providers, Wealth Succession Consulting Industry Associations, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
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.