Wealth Management - Romania

Romania

In Romania, the Wealth Management market is expected to witness a significant growth in the coming years.
By 2024, the Assets under Management (AUM) in this market are projected to reach a staggering US$38.18bn.
Financial Advisory services are set to dominate the market, with a projected market volume of US$35.93bn in 2024.
Moreover, the Assets under Management are expected to display a steady annual growth rate of 2.43% from 2024 to 2028.
This growth will result in a substantial increase in the market volume, reaching US$42.03bn by 2028.
The Wealth Management market in Romania is poised for continued expansion and development in the coming years.
Wealth management services in Romania are experiencing a surge in demand as the country's growing affluent population seeks expert guidance in managing their assets.

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

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Analyst Opinion

The Wealth Management market in Romania 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: Romanian customers have shown a growing interest in wealth management services, seeking professional advice and guidance to manage their financial assets. This shift in preference can be attributed to an increasing awareness of the benefits of wealth management, such as portfolio diversification, risk management, and long-term financial planning. Additionally, customers are looking for personalized and tailored solutions that cater to their individual needs and goals.

Trends in the market: One of the key trends in the Romanian Wealth Management market is the rise of digital platforms and technology-driven solutions. Customers are increasingly using online platforms and mobile applications to access wealth management services, monitor their investments, and receive real-time updates. This trend has been fueled by the widespread adoption of smartphones and the convenience of digital channels. Another trend in the market is the growing demand for sustainable and socially responsible investments. Romanian customers are becoming more conscious of environmental and social issues, and they are seeking investment opportunities that align with their values. Wealth management firms are responding to this trend by offering sustainable investment options and integrating environmental, social, and governance (ESG) factors into their investment strategies.

Local special circumstances: Romania's growing economy and rising affluence levels have contributed to the development of the Wealth Management market. As the country experiences economic growth, individuals and families are accumulating wealth and are in need of professional wealth management services. The expanding middle class, in particular, is driving the demand for these services, as they seek to preserve and grow their wealth over time.

Underlying macroeconomic factors: Several macroeconomic factors have played a role in the development of the Wealth Management market in Romania. The country's stable political environment, improved regulatory framework, and integration into the European Union have created a favorable business environment for wealth management firms. Additionally, low interest rates and a volatile stock market have pushed investors towards wealth management services as they seek higher returns and diversification. In conclusion, the Wealth Management market in Romania is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customers are increasingly seeking professional advice and personalized solutions, while also embracing digital platforms and sustainable investments. The country's growing economy, stable political environment, and favorable regulatory framework further support the development of the Wealth Management market in Romania.

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).