Wealth Management - Eastern Asia

Eastern Asia

In Eastern Asia, the Wealth Management market is expected to see significant growth in the coming years.
By 2024, the projected Assets under Management in this market are estimated to reach a staggering US$13,730.00bn.
Among the various segments, Financial Advisory is predicted to dominate, with a projected market volume of US$13,490.00bn by 2024.
Looking ahead, the Assets under Management are anticipated to exhibit an annual growth rate (CAGR 2024-2028) of 0.54%.
This growth trajectory will result in a substantial increase, with the market volume reaching US$14,030.00bn by 2028.
The Wealth Management market in Eastern Asia is poised for continued expansion and development in the years to come.
In Japan, the trend in the wealth management market is a strong emphasis on long-term investment strategies and a preference for conservative portfolios.

Key regions: United States, United Kingdom, Germany, Hong Kong, Singapore

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Analyst Opinion

The Wealth Management market in Eastern Asia is experiencing significant growth and development, driven by various factors such as increasing affluence, changing customer preferences, and local special circumstances. Customer preferences in the Wealth Management market in Eastern Asia are shifting towards more personalized and comprehensive services.

High-net-worth individuals in this region are seeking tailored investment solutions that can help them achieve their financial goals. They are looking for wealth managers who can provide a wide range of services, including investment advisory, estate planning, and tax optimization. Additionally, there is a growing demand for digital wealth management platforms that offer convenience and accessibility.

Trends in the market show that wealth management firms in Eastern Asia are expanding their product offerings to meet the evolving needs of their customers. They are launching innovative investment products and solutions that cater to different risk appetites and investment objectives. For example, some wealth managers are introducing sustainable and socially responsible investment options to attract environmentally conscious investors.

Others are focusing on alternative investments such as private equity and real estate to diversify portfolios and generate higher returns. Local special circumstances also play a significant role in shaping the Wealth Management market in Eastern Asia. One such circumstance is the strong emphasis on family and intergenerational wealth transfer.

In many Eastern Asian cultures, preserving and growing family wealth is a top priority. This has led to the development of specialized wealth management services that focus on succession planning and wealth preservation strategies. Wealth managers in this region need to understand and navigate the complex dynamics of family relationships and cultural norms to effectively serve their clients.

Underlying macroeconomic factors are also contributing to the growth of the Wealth Management market in Eastern Asia. The region has witnessed rapid economic growth in recent years, leading to a significant increase in the number of high-net-worth individuals. The rising affluence has created a demand for sophisticated wealth management services that can help individuals manage and grow their wealth.

Additionally, favorable government policies and regulatory reforms have created a conducive environment for the development of the wealth management industry. In conclusion, the Wealth Management market in Eastern Asia is experiencing robust growth and development due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Wealth managers in this region need to adapt to these dynamics and offer personalized and comprehensive services to meet the evolving needs of their clients.

Methodology

Data coverage:

The data encompasses B2C enterprises. The figures are based on gross revenues, assets under management, and user & advisor data of relevant services and products offered within the Wealth Management market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research activities (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as: GDP, gross national income (GNI), consumer spending, total investment (% of GDP), high income (% of population), and number of high-net-worth individuals (HNWI). This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).