Key regions: Singapore, United Kingdom, Switzerland, Asia, Germany
The Financial Advisory market in Ireland is experiencing significant growth and development.
Customer preferences: Customers in Ireland are increasingly seeking financial advice to help them navigate complex investment options and plan for their financial future. This is driven by a growing awareness of the importance of financial planning and the desire to make informed decisions about their money. Customers are also looking for personalized and tailored advice that takes into account their individual circumstances and goals. They value transparency and trust in their financial advisors, and are willing to pay for quality advice and service.
Trends in the market: One of the key trends in the Financial Advisory market in Ireland is the rise of digital platforms and robo-advisors. These platforms leverage technology to provide automated investment advice and portfolio management services. They offer convenience, lower costs, and access to a wider range of investment options. This trend is particularly appealing to younger customers who are comfortable with technology and prefer a self-service approach to managing their finances. Another trend in the market is the increasing focus on sustainable and responsible investing. Customers in Ireland are becoming more conscious of the environmental and social impact of their investments and are seeking financial advisors who can help them align their investments with their values. This trend is driven by a growing awareness of climate change and social issues, as well as regulatory initiatives promoting sustainable finance.
Local special circumstances: Ireland's position as a global hub for multinational companies and the presence of a large financial services sector contribute to the growth of the Financial Advisory market. The country's favorable tax regime and business-friendly environment attract foreign investment, creating opportunities for financial advisors to work with international clients. Additionally, the Irish population has a high level of financial literacy, which further fuels demand for financial advisory services.
Underlying macroeconomic factors: The strong economic growth in Ireland, coupled with low interest rates, has created a favorable environment for investment. This has led to increased demand for financial advisory services as individuals and businesses seek guidance on how to maximize their returns and manage risk. The stability of the Irish economy and its membership in the European Union also provide a solid foundation for the Financial Advisory market. In conclusion, the Financial Advisory market in Ireland is experiencing growth and development driven by customer preferences for personalized advice, the rise of digital platforms and robo-advisors, the focus on sustainable investing, and the country's favorable business environment. These trends, along with the strong economic growth and stability, are expected to continue driving the growth of the market in the coming years.
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).
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