Wealth Management Market To Grow At A Slow Pace As Per TBRC?s Latest Report
Posted by praneeth on September 21st, 2018
The wealth management market comprises establishments engaged in planning, advising and managing various kinds of assets. This market covers financial and investment advice, retirement planning and legal or estate planning but excludes accounting and tax services. Market is the revenue generated from the fees and commissions levied on the assets being managed. This market includes brokerage and custodian charges of the firms.
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The global wealth management service market has shown a slow growth in the past years with a CAGR of just over 2%. The year 2017 recorded highest ever growth in this market with a net worth of around USD 1.3 trillion as per TBRC’s in-house consultants.
TBRC’s report show latest trends in the market for each year with sourced reasons to support the growth claims.
The report also shows wealth management service market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies with the highest market share and future trends related to each geography.
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Portfolio management was the largest segment with around half of the total share of the global wealth management market. Availability of large number of portfolio management services globally targeting high net worth individuals contributed to increased demand for this service.
However, growth in this sector is expected to slow down at a negative CAGR in the future.
Companies included in the report are Agricultural Bank of China, Wells Fargo, BlackRock, Morgan Stanley, and Bank of America.
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Joined: June 6th, 2018
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