wealth management platform Market

The global wealth management platform market is expected to grow from US$ 3,710.4 million in 2021 to US$ 9,197.6 million by 2028; it is estimated to grow at a CAGR of 13.8% from 2021 to 2028.

Long-term financial planning involves forecasting an individual's financial capacity to align with their long-term service goals. Governments worldwide have a long-term financial planning process that enables decision-makers to discuss a long-range perspective. Wealth management tools play a crucial role in reducing financial difficulties by encouraging strategic thinking and effective communication with stakeholders. The adoption of AI and analytics facilitates the analysis phase, providing information that assists in strategizing and planning. This phase includes financial and forecast analysis, as well as information gathering, trend forecasting, and analysis. These analyses raise awareness of long-term financial planning among the public, creating profitable opportunities for the wealth management platform market in the future.

North America boasts the highest rate of advanced technology adoption, fueled by supportive government policies and improved infrastructure. Despite this, various factors hinder the region's economic development and industrial performance. The outbreak of COVID-19 in the US has led to restrictions on industrial, commercial, and public activities, resulting in a contraction of GDP and negatively impacting the region's economy. According to the World Health Organization, the US is currently the worst-affected country globally, with a high number of confirmed cases and deaths, which has further impacted the economy. This has caused a decline in business activities and slowed the growth of various industries in the region, resulting in a decrease in revenue for leading players in the wealth management platform market. Business shutdowns, as well as product launch cancellations and postponements across the US, Canada, and Mexico, have further affected the adoption of wealth management platforms in the region in 2020.

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 are a few key companies operating in the wealth management platform market. The report comprises secondary research work on other companies that hold a significant wealth management platform market share.

The wealth management platform market size has been determined using a combination of primary and secondary sources. The research process commenced with thorough secondary research, utilizing both internal and external sources to gather qualitative and quantitative data on the market. This enabled an overview and forecast of the wealth management platform market for all relevant segments in the region. Subsequently, multiple primary interviews were conducted with industry experts, including VPs, business development managers, market intelligence managers, and national sales managers. External consultants, such as valuation experts, research analysts, and key opinion leaders with a specialization in the wealth management platform market, were also consulted to validate the data and gain deeper analytical insights into the topic.