Wealth Management - Italy

Italy

In Italy, the Wealth Management market is anticipated to witness a significant growth in the coming years.
According to projections, the Assets under Management in this market are expected to reach a staggering US$2,079.00bn by the year 2024.
Financial Advisory is the dominating segment in this market, with a projected market volume of US$2,036.00bn in 2024.
Looking ahead, it is estimated that the Assets under Management will continue to expand at a steady pace.
The expected annual growth rate (CAGR 2024-2028) for this market is 0.91%.
This growth trajectory is predicted to result in a market volume of US$2,156.00bn by the year 2028.
In Italy, the current trend in the wealth management market is a growing preference for sustainable and socially responsible investment strategies.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Wealth Management market in Italy is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Italy are shifting towards more personalized and holistic wealth management services.

Clients are increasingly looking for tailored investment strategies that take into account their individual goals, risk tolerance, and financial situation. They also seek comprehensive financial planning services, including retirement planning, tax optimization, and estate planning. This shift in customer preferences is driving the demand for sophisticated wealth management solutions in the country.

Trends in the market indicate a growing adoption of digital technologies and platforms in the wealth management industry. Italian wealth management firms are leveraging technology to enhance their service offerings, improve operational efficiency, and provide a seamless customer experience. Digital platforms enable clients to access their investment portfolios, track performance, and communicate with their advisors conveniently.

Moreover, robo-advisory services are gaining popularity in Italy, offering automated investment advice and portfolio management at a lower cost. Local special circumstances in Italy also contribute to the development of the wealth management market. The country has a high concentration of high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs), who require specialized wealth management services.

These individuals often have complex financial needs, including international investments, tax planning, and succession planning. Italian wealth management firms are catering to this niche market by offering tailored solutions and expertise in managing wealth across borders. Underlying macroeconomic factors further support the growth of the wealth management market in Italy.

The country has a stable and well-regulated financial system, providing a favorable environment for wealth management activities. Additionally, Italy's economy is recovering from the impact of the global financial crisis, with improving GDP growth and declining unemployment rates. As the economy strengthens, individuals and families are accumulating wealth and seeking professional guidance to manage and grow their assets.

In conclusion, the Wealth Management market in Italy is experiencing growth and development driven by customer preferences for personalized services, trends in digitalization, local special circumstances of a high concentration of HNWIs and UHNWIs, and underlying macroeconomic factors such as a stable financial system and improving economy. Italian wealth management firms are adapting to these dynamics by offering tailored solutions, leveraging technology, and providing comprehensive financial planning 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).