Who Are The Key Companies/Players In The Wealth Management Software Market By 2030?

 Wealth Management Software Industry Overview

The global wealth management software market size was valued at USD 3.76 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 13.9% from 2022 to 2030. The growth of the market can be attributed to the growing adoption of the latest technologies in wealth management advisory. Advances in financial technology, and subsequently, an entirely new approach being pursued to automate and improve the delivery of financial services is expected to contribute to the growth of the market over the forecast period. As such, the growing adoption of financial technology for wealth management bodes well for the growth of the market.

The increasing need to automate the wealth management process is anticipated to propel the growth of the market over the forecast period. Wealth management platforms can serve as a cost-effective alternative for users looking forward to automating workflow and managing wealth. Apart from an open architecture, these platforms can also provide omnibus access and help in digitalizing the overall wealth management process. These platforms can also be easily integrated into various wealth administration applications. Wealth managers have realized that affluent clients are focusing aggressively on diversifying their investments, meeting their personal goals, maintaining financial security, and protecting their wealth.

Gather more insights about the market drivers, restrains and growth of the Global Wealth Management Software market


However, a looming lack of adequate knowledge about investment is keeping these affluent clients from fully achieving their financial goals. Hence, wealth managers have started using wealth management solutions to provide their clients with more tailored and holistic investment services. This is emerging among the major factors driving the adoption of wealth management software. The growing preference for digital investment management solutions among High-Net-Worth Individuals (HNWIs) is anticipated to propel the growth of the market. HNWIs are demanding more control and transparency in the way wealth managers are managing their wealth. At this juncture, wealth management software can guarantee HNWIs the level of control and transparency they desire in the management of their wealth.

Wealth management solutions can also help HNWIs in strategizing their wealth management plans more effectively using various analytical tools. The adoption of innovative advisor technology is gaining significant traction. Machine Learning (ML) and Artificial Intelligence (AI) capabilities are particularly helping financial advisors in interpreting and analyzing large volumes of data and drafting better investment strategies for their clients. However, continued reliance on conventional asset management processes is challenging the growth of the market. Various other factors, such as lack of awareness about wealth management platforms and inadequate technical expertise among enterprise professionals are expected to restrain the growth of the market.

 

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Wealth Management Software Market Segmentation

Grand View Research has segmented the global wealth management software market based on covid-19 impact, advisory mode, deployment, enterprise size, application, end-use and region:

  • Advisory Mode Outlook (Revenue, USD Million, 2017 - 2030)
    • Human Advisory
    • Robo Advisory
    • Hybrid

 

  • Deployment Outlook (Revenue, USD Million, 2017 - 2030)
    • Cloud
    • On-premise

 

  • Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)
    • Large Enterprises
    • Small & Medium Enterprises

 

  • Application Outlook (Revenue, USD Million, 2017 - 2030)
    • Financial Advice & Management
    • Portfolio, Accounting, & Trading Management
    • Performance Management
    • Risk & Compliance Management
    • Reporting
    • Others

 

  • End-use Outlook (Revenue, USD Million, 2017 - 2030)
    • Banks
    • Investment Management Firms
    • Trading & Exchange Firms
    • Brokerage Firms
    • Others

 

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)


Market Share Insights

  • December 2021: Temenos Headquarters SA announced its expansion of the strategic relationship with Microsoft to meet the increasing demand from banks for SaaS and banking services delivered by Temenos Banking Cloud. This collaboration with Microsoft is to develop financial services in the cloud to drive scalability, operational efficiency, and innovation.
  • August 2021: Objectway S.p.A. announced the acquisition of Die Software Peter Fitzon GmbH (DSW), a provider of core banking solutions in Germany. OBJECTWAY S.p.A. expects the acquisition to strengthen its wealth and asset management offerings with a comprehensive and solid core banking platform.


Key Companies profiled:

Some prominent players in the global wealth management software market include

  • Comarch SA
  • Dorsum Ltd.
  • Fidelity National Information Services, Inc.
  • Finantix
  • Fiserv, Inc.
  • Objectway S.p.A.
  • Profile Software
  • SEI Investments Company
  • SS&C Technologies Holdings, Inc.
  • Temenos Headquarters SA


Order a free sample PDF of the Wealth Management Software Market Intelligence Study, published by Grand View Research.

 

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