Wealth Management - Greece

Greece

In Greece, the Wealth Management market is anticipated to witness a significant growth in the coming years.
It is projected that the Assets under Management in this market will reach a staggering US$355.80bn by the year 2024.
Among the various segments, Financial Advisory is expected to dominate the market with a projected market volume of US$351.70bn in the same year.
Furthermore, the Assets under Management in the Wealth Management market are expected to exhibit a steady annual growth rate of 2.28% during the period of 2024-2028.
This growth rate will lead to a substantial increase in the market volume, reaching US$389.30bn by the year 2028.
Greece's wealth management market is experiencing a surge in demand for sustainable investment solutions among high-net-worth individuals.

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

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Analyst Opinion

The Wealth Management market in Greece has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Wealth Management market have been shifting towards a more personalized and holistic approach.

Clients are increasingly seeking customized solutions that cater to their individual financial goals and risk appetite. They are also placing greater emphasis on transparency, trust, and ethical practices when selecting wealth management providers. This shift in customer preferences is not unique to Greece, but is a global trend driven by increased awareness and education about financial products and services.

One of the key trends in the Greek Wealth Management market is the growing demand for sustainable and socially responsible investments. Investors are becoming more conscious of the environmental, social, and governance (ESG) factors associated with their investments and are seeking wealth management solutions that align with their values. This trend is driven by a combination of factors, including increased awareness of climate change and social issues, as well as regulatory initiatives promoting sustainable finance.

Another trend in the market is the rise of digital wealth management platforms. These platforms leverage technology to offer convenient and cost-effective investment solutions to a broader range of clients. They provide access to a wide range of investment products, portfolio management tools, and financial planning services, all through user-friendly interfaces.

This trend is driven by advancements in technology, changing customer expectations for digital experiences, and the need for wealth managers to streamline their operations and reduce costs. Local special circumstances in Greece have also contributed to the development of the Wealth Management market. The country has a high net worth population, with a significant number of individuals and families seeking professional advice to manage their wealth.

Additionally, Greece has a well-established banking sector and a strong culture of saving and investment. Underlying macroeconomic factors have also played a role in the growth of the Wealth Management market in Greece. The country has experienced economic recovery in recent years, following a period of financial crisis.

This has led to increased investor confidence and a growing appetite for wealth management services. Additionally, low interest rates have made traditional savings and investment products less attractive, driving individuals to seek alternative investment options. In conclusion, the Wealth Management market in Greece is developing in response to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

The market is witnessing a shift towards personalized and sustainable wealth management solutions, as well as the adoption of digital platforms. These developments are driven by global trends, such as increased awareness of ESG factors and advancements in technology. Greece's high net worth population, well-established banking sector, and improving economic conditions have also contributed to the growth of the market.

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).