Global Wealth Management Market 2015-2019
Covering: This industry research report covers the growth prospects of the global wealth management market with segmentations based on the geography (North America, Asia-Pacific, Europe, Latin America, Middle East, and Africa). It also includes an insightful analysis of the leading vendors in this market such as BlackRock, UBS, Allianz, Vanguard Group, State Street Global Advisors, PIMCO, Fidelity Investments, AXA, and Credit Suisse.
Market overview of global wealth management market
Technavios market research analyst has envisaged the global wealth management market to grow at a rapid CAGR of nearly 10% by 2019. The increasing use of SWIFT (Society for Worldwide Interbank Financial Telecommunication) services is expected to lead to process automation across the globe, which in turn would facilitate the systematic transfer plan by cutting the costs and risks associated with it. This will help in increasing client protection and the stability of the financial system; thus, leading to market growth.
The rising need for customer analytics is the key driver for the growth of this market. Analytics helps to understand the different customer segments and their investment pattern in different asset classes. Since customer analytics is an important tool to understand the relationship-based pricing strategies, their augmented usage during the forecast period will aid in understanding the banking needs of customers.
Geographical segmentation of the global wealth management market
In this market research report, analysts estimate the North American region to be the largest market for wealth management solutions during the forecast period. At present, this region accounts for a market share of nearly 32% and is envisaged to retain its dominating hold over the market by the end of 2019 due to the development of a new client service model by multi-family offices (MFOs).
Competitive landscape and key vendors
This market is highly competitive and fragmented due to the presence of many large firms like Allianz and Vanguard group. The top vendors in this market are trying to leverage the technology so that they can provide customized solutions to the clients. This will help vendors to increase their market revenue generating capacity and will also allow them to gain a competitive edge over their rivals.
The leading vendors of the market include -
State Street Global Advisors
The other prominent vendors of the market include BNY Mellon, Credit Agricole, Capital Group and Deutsche Asset & Wealth Management.
Key questions answered in the report
What will the market size and the growth rate be in 2019
What are the key factors driving the global wealth management market
What are the key market trends impacting the growth of the global wealth management market
What are the challenges to market growth
Who are the key vendors in this market space
What are the market opportunities and threats faced by the vendors in the global wealth management market
What are the factors influencing the market shares of the North America, Asia-Pacific, Europe, Latin America, Middle East, and Africa
What are the key outcomes of the five forces analysis of the global wealth management market
Technavio also offers customization on reports based on specific client requirement.
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Technavio Announces the Publication of its Research Report Global Wealth Management Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Wealth Management Market: BlackRock, UBS, Allianz, Vanguard Group, State Street Global Advisors, PIMCO, Fidelity Investments, AXA and Credit Suisse
Other Prominent Vendors in the market are: BNY Mellon, Credit Agricole, Capital Group and Deutsche Asset & Wealth Management.
Commenting on the report, an analyst from Technavios team said: There is an increased complexity in the investment pattern that is giving rise to unique risk requirements. Therefore, the wealth management industry must always focus on the AUM by constantly monitoring and redesigning different strategies. Thereby, a new master risk framework is being developed that will avoid different kinds of risks like cyber and fraud risks in the industry.
According to the report, wealth advisors play a very important role in providing a service to the HNWI clients. With globalization there has been a lot of digitalization strategies that have strengthened customer engagement and the client relationship. This will enhance the services through risk management and shift the focus to the estate and trust.
Further, the report states that lack of proper due diligence is the most important challenge that is faced by the wealth management industry.
BlackRock, UBS, Allianz, Vanguard Group, State Street Global Advisors, PIMCO, Fidelity Investments, AXA, Credit Suisse, BNY Mellon, Credit Agricole, Capital Group, Deutsche Asset & Wealth Management.
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