Financial Planning & Advice in the US
Growth in the Financial Planning and Advice industry has compounded swiftly over the five years to 2018. Advisers generate revenue in a variety of ways, including financial planning fees, investment commissions, insurance commissions and other fees. Over the past five years, economic growth and rising employment has pushed the industry upwards. Over the five years to 2023, revenue is projected to continue to increase as financial markets improve. IBISWorld forecasts that the growing number of affluent households and rising equity markets will help increase total assets under management for the industry and raise revenue generated from fees charged on the value of assets under management. Additionally, the aging of the US population will increase demand for financial planning services as more Americans nearing retirement age will seek professional financial advice.
This industry comprises companies that provide financial planning, financial advice and wealth management to individuals and business clients. Operators also offer advice, in conjunction with other activities such as portfolio management, protection planning and brokerage services. This industry does not include mutual fund companies, hedge funds, discount brokers, insurance brokers or other companies that deliver these services, outside the context of a written financial plan.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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