Wealth Management - Montenegro

Montenegro

In Montenegro, the Assets under Management (AUM) in the Wealth Management market are anticipated to reach US$299.10m by the year 2024.
It is worth noting that within this market segment, Financial Advisory holds the dominant position, with a projected market volume of US$230.90m by 2024.
Looking ahead, the AUM is expected to exhibit a Compound Annual Growth Rate (CAGR 2024-2028) of 3.26%, leading to a market volume of US$340.00m by 2028.
Montenegro's wealth management market is experiencing a surge in demand due to its attractive tax benefits and growing number of 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 Montenegro is experiencing significant growth and development in recent years.

Customer preferences: Montenegrin customers are increasingly seeking professional advice and guidance in managing their wealth. They are looking for personalized and tailored solutions to meet their specific financial goals and objectives. This trend is driven by the growing complexity of the financial markets and the need for expertise in navigating investment opportunities. Additionally, customers are becoming more aware of the benefits of diversification and are seeking a range of investment options to maximize their returns.

Trends in the market: One of the key trends in the Wealth Management market in Montenegro is the increasing demand for sustainable and socially responsible investments. Customers are increasingly concerned about the environmental and social impact of their investments and are seeking investment products that align with their values. This trend is in line with the global shift towards sustainable investing and reflects the growing awareness of environmental and social issues among investors. Another trend in the market is the growing popularity of digital wealth management platforms. Customers are increasingly comfortable with using technology to manage their finances and are looking for convenient and user-friendly digital solutions. Digital wealth management platforms offer a range of services, including portfolio management, financial planning, and investment advice, all accessible through mobile or web applications. This trend is driven by the convenience and accessibility of digital platforms, as well as the cost-effective nature of online wealth management services.

Local special circumstances: Montenegro is a small market with a relatively high concentration of high-net-worth individuals. This concentration of wealth presents opportunities for wealth managers to provide personalized and tailored services to a select group of clients. Additionally, Montenegro's growing tourism industry has led to an increase in foreign investment, further contributing to the growth of the Wealth Management market.

Underlying macroeconomic factors: Montenegro has experienced steady economic growth in recent years, driven by tourism, real estate, and foreign direct investment. This economic growth has led to an increase in wealth and disposable income among individuals, creating a favorable environment for the development of the Wealth Management market. Furthermore, Montenegro's favorable tax regime and business-friendly policies attract foreign investors, contributing to the growth of the wealth management industry. In conclusion, the Wealth Management market in Montenegro is growing and evolving to meet the changing needs and preferences of customers. The increasing demand for personalized and tailored solutions, sustainable investments, and digital wealth management platforms are driving the market's development. Montenegro's unique circumstances, including a concentration of high-net-worth individuals and a growing tourism industry, further contribute to the growth of the Wealth Management market. The underlying macroeconomic factors, including steady economic growth and favorable business conditions, provide a supportive environment for the market's expansion.

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).