Wealth Management Platform Market Research Report and Outlook by 2028

The global market for wealth management platforms is projected to expand from US$ 3,710.4 million in 2021 to US$ 9,197.6 million by 2028, reflecting a compound annual growth rate (CAGR) of 13.8% during this period.

Long-term financial planning is essential for forecasting an individual's financial capabilities in relation to their extended service objectives. Governments across the globe engage in long-term financial planning processes that allow decision-makers to adopt a forward-looking approach. Wealth management tools are vital in alleviating financial challenges by promoting strategic thought and effective dialogue with stakeholders. The integration of artificial intelligence (AI) and analytics enhances the analysis phase, yielding insights that support strategic planning and decision-making. This phase encompasses financial assessments, forecasting, data collection, trend analysis, and overall evaluation. Such analyses increase public awareness regarding long-term financial planning, thereby creating lucrative prospects for the wealth management platform market in the coming years.

North America leads in the adoption of advanced technologies, driven by favorable government initiatives and enhanced infrastructure. However, several challenges impede the region's economic growth and industrial performance. The COVID-19 pandemic has imposed restrictions on industrial, commercial, and public activities in the United States, leading to a contraction in GDP and adversely affecting the economy. The World Health Organization has identified the US as the country most severely impacted by the pandemic, with a significant number of confirmed cases and fatalities, further straining the economy. This situation has resulted in a downturn in business operations and has hindered the growth of various sectors, leading to reduced revenues for major players in the wealth management platform market. Business closures, along with the cancellation and postponement of product launches across the US, Canada, and Mexico, have also negatively influenced the uptake of wealth management platforms in 2020.

Key players in the wealth management platform market include Broadridge Financial Solutions, Inc.; Comarch SA; FIS Global; InvestCloud; Fiserv, Inc.; InvestEdge, Inc.; Profile Software S.A.; SEI Investments Developments, Inc.; SS&C Technologies, Inc.; and Temenos Headquarters SA. The report also includes secondary research on other companies that hold a significant share in the wealth management platform market.

The size of the wealth management platform market has been assessed through a blend of primary and secondary research methodologies. The research process began with extensive secondary research, leveraging both internal and external sources to compile qualitative and quantitative data regarding the market. This approach facilitated a comprehensive overview and forecast of the wealth management platform market across all pertinent segments within the region. Following this, numerous primary interviews were conducted with industry professionals, including vice presidents, business development managers, market intelligence managers, and national sales managers. Additionally, external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the wealth management platform market were consulted to validate the findings and provide deeper analytical insights into the subject.