Wealth Management Software Market

Wealth Management Software Market Share was valued at USD 3,301 Million in 2020 and is expected to register a CAGR of 13.5% during the forecast period.

Introduction of the Wealth Management Software Market Report

The term “Wealth Management” mentions an investment and consulting service which offers financial planning, investment management and other forms of financial consultancy. Clients like high net worth individuals and businesses who look for financial advice from

a financial consultancy generally incorporate all the client’s financial assets with asset management services, which focus on increasing their wealth.

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Market Dynamic

Key Drivers and Emerging Trends

Emerging need to automate wealth management processes and increasing inclination towards digital investment management solutions among High-Net-Worth Individuals are the major factors fueling the wealth management software market size. Wealth management solutions helps HNWIs to strategize their wealth management plans effectively using various analytical tools. The adoption of advanced technology which include Machine Learning (ML), chatbots, big data analytics, and Artificial Intelligence (AI) to help financial advisors analyze large volumes of data for their clients, will offer lucrative opportunities for the market. Increasing demand for alternative investment options such as real estate investment trusts (REITs), private equity and intellectual property is projected to propel the global Wealth Management Market market growth. In addition, the advancement and deployment of financial technology for wealth management strengthened the market. However, several factors which include insufficient awareness about the wealth management platforms and insufficient technological expertise among professionals might hamper the Wealth Management Market Share over the upcoming years.

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Advisory Model – Segment Analysis

Based on the Advisory Model, the Robo advisory segment is expected to grow at a higher CAGR during the forecast period. Robo advisors are highly accurate, reliable, and more accessible as compared to other modes. Robo advisors offer many benefits, including a much easier onboarding process, minimal investment requirement, and a suite of automated capabilities. It provides customers with direct software-based access to the business service portfolio.

Business Function – Segment Analysis

Based on the Business Function, the Portfolio, accounting and trading management segment is projected to dominate the wealth management software market share during the forecast period. This can be attributed to the high demand for decision support, portfolio management, and trading solutions across various programs. Due to the cut-throat competition, the portfolio, accounting, and trading managers are under pressure to effectively handle their existing customers’ data. They provide trading managers with effective advisory solutions that concentrate on collaborative activities to serve their customers in a better manner.

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Regional – Segment Analysis:

Based on the region, the Asia-Pacific region is expected to grow at a higher CAGR during the forecast period. The region is expected to develop growth opportunities for robo advisors due to the rising adoption of digital forums. The combination of advanced analytics and advanced algorithms offers techno-savvy customers to adopt the robo advisory tools to effectively meet their investment requirements. Moreover, the increasing number of small & medium enterprises in emerging economies, such as China and India, are expected to create growth opportunities for the wealth management software providers in the region.

Top Market Players

Various notable players operating in the market include SS&C Technologies, Inc., Fiserv, Inc., FIS., Profile Software, Broadridge Financial Solutions, Inc., InvestEdge, Inc., Temenos Headquarters SA, SEI, Comarch SA, Objectway S.p.A., among others. 

Key Developments:

• • In 2021, Objectway S.p.A. acquired Die Software Peter Fitzon GmbH (DSW), a leading vendor of core banking solutions in Germany. This acquisition is anticipated to strengthen the wealth and asset management offerings of Objectway S.p.A. and offer a comprehensive and solid core banking platform.
  • In 2021, Comarch SA announced a partnership with Polish Factors Association. The alliance focuses on promulgating the entrepreneurs to spread awareness about the benefits offered by factoring; also, the association conducts a broad dialogue for the development of the sector in Poland.
  • In 2019, InvestEdge, Inc. announced a partnership with Featheringill Capital. The association will provide InvestEdge to better serve the customer with efficient products and support. Featheringill’s backing strengthens InvestEdge’s financial position and will provide access to capital for continued investment in the company’s products.
  • In 2019, SS&C Technologies, Inc. announced a new range of product solutions, namely, “Advent Portfolio Exchange, Advent Genesis, Geneva, Moxy, and related platforms”. These Advent Outsourcing Services (AOS) provides a client with greater visibility and transparency into operational activities, such as portfolio and market data management.

Segments covered in the Report:

The global Wealth Management Software market has been segmented on the basis of Advisory Model, Business Function, Deployment Model, End-user Industry and regions. Based on Advisory Model, the market is segmented into Human advisory, Robo advisory and Hybrid. Based on Business Function, the market is segmented into Financial advice management, Portfolio, accounting, and trading management, Performance management, Risk and compliance management, Reporting and Others. Based on Deployment Model, the market is segmented into Cloud and On-premises. Based on End-user Industry the market is segmented into Banks, Investment management firms, Trading and exchange firms, Brokerage firms and Others. 

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Key questions answered in this research report:

• • At what pace is global Wealth Management Software market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Wealth Management Software market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Wealth Management Software market?
  • Which Advisory Model generated maximum revenues in 2019 and identify the most promising Advisory Model during the forecast period?
  • What are the various Business Function areas of global Wealth Management Software market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Wealth Management Software Market by Advisory Model

• • Human advisory
  • Robo advisory
  • Hybrid

Global Wealth Management Software Market by Business Function

• • Financial advice management
  • Portfolio, accounting, and trading management
  • Performance management
  • Risk and compliance management
  • Reporting
  • Others

Global Wealth Management Software Market by Deployment Model

• • Cloud
  • On-premises

Global Wealth Management Software Market by End-user Industry

• • Banks
  • Investment management firms
  • Trading and exchange firms
  • Brokerage firms
  • Others

Global Wealth Management Software Market by Region

• • North America Wealth Management Software Market (Option 1: As a part of the free 25% customization)
    • By Advisory Model
    • By Business Function
    • By Deployment Model
    • By End-user Industry
    • US Market All-Up
    • Canada Market All-Up
  • Europe Wealth Management Software Market (Option 2: As a part of the free 25% customization)
    • By Advisory Model
    • By Business Function
    • By Deployment Model
    • By End-user Industry
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Wealth Management Software Market (Option 3: As a part of the free 25% customization)
    • By Advisory Model
    • By Business Function
    • By Deployment Model
    • By End-user Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Wealth Management Software Market (Option 4: As a part of the free 25% customization)
    • By Advisory Model
    • By Business Function
    • By Deployment Model
    • By End-user Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Wealth Management Software (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • SS&C Technologies, Inc.
  • Fiserv, Inc.
  • FIS
  • Profile Software
  • Broadridge Financial Solutions, Inc.
  • InvestEdge, Inc.
  • Temenos Headquarters SA
  • SEI
  • Comarch SA
  • Objectway S.p.A.