Key regions: Singapore, United Kingdom, Switzerland, Asia, Germany
The Financial Advisory market in Hong Kong has been experiencing significant growth in recent years.
Customer preferences: Customers in Hong Kong have shown a strong preference for personalized financial advice and services. They value the expertise and guidance provided by financial advisors, particularly in navigating complex investment options and managing risks. As a result, there has been an increasing demand for financial advisory services in the market.
Trends in the market: One of the key trends in the Financial Advisory market in Hong Kong is the rise of digital platforms and robo-advisors. These platforms have gained popularity among tech-savvy customers who prefer a more convenient and cost-effective way of accessing financial advice. The use of technology in the financial advisory industry has also enabled advisors to reach a wider customer base and provide more tailored solutions. Another trend in the market is the growing interest in sustainable and socially responsible investing. Customers in Hong Kong are increasingly concerned about environmental, social, and governance (ESG) factors when making investment decisions. This has led to the emergence of specialized ESG-focused financial advisory services, catering to the demand for responsible investing.
Local special circumstances: Hong Kong's status as an international financial hub and its proximity to Mainland China have contributed to the growth of the Financial Advisory market. The city's well-established regulatory framework and strong legal system provide a conducive environment for financial services companies to operate. Additionally, Hong Kong's high concentration of wealthy individuals and businesses has created a fertile ground for financial advisory firms to thrive.
Underlying macroeconomic factors: Several macroeconomic factors have played a role in the development of the Financial Advisory market in Hong Kong. The city's robust economic growth, supported by its strong financial services sector, has created wealth and increased the demand for financial advisory services. Furthermore, the low interest rate environment has prompted investors to seek alternative investment options, leading to a greater need for professional financial advice. In conclusion, the Financial Advisory market in Hong Kong is experiencing growth driven by customer preferences for personalized advice, the rise of digital platforms, and the increasing interest in sustainable investing. The city's unique position as an international financial hub and its strong economic fundamentals have also contributed to the development of the market.
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).
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
