Private Wealth Management - Statistics & Facts

Private wealth management has developed significantly in the recent years as a result of growth of affluence worldwide. The number of millionaires in North America increased from 3.39 million in 2010 to 5.68 million in 2018. The recent developments in Fintech market help to open up new Private Wealth Management products and services to people with smaller amounts of disposable income as shown in our Statista Report 2019. A similar trend has been observed in Europe as the number of millionaires grew from 3.13 million in 2010 to 4.8 million in 2018.

Wealth distribution globally
The largest amount of global private wealth, equal to 90.3 trillion U.S. dollars in 2018, was concentrated in North America. The value of private wealth in Western Europe and Asia in that year amounted to 44 trillion U.S. dollars and 37.2 trillion U.S. dollars respectively. According to the forecast, North America will remain in the lead in terms of private wealth value in 2023, but Asia will overtake Western Europe.

Wealth distribution in the United States
In the United States, New Jersey had the highest ratio of millionaire households in 2018. In the same year, Mississippi had the lowest ratio of millionaire households per capita, where only 3.68 percent of households held assets worth more than one million U.S. dollars.

Wealth management companies
The private banks worldwide with largest amount of assets under management in 2017 were UBS (2.4 trillion U.S. dollars), Morgan Stanley (2.22 trillion U.S. dollars) and Bank of America (2.21 trillion U.S. dollars). The largest wealth management companies in the United States in terms of managed assets as of September 2018 were Bank of America Global Wealth and Investment Management (1.35 trillion U.S. dollars), Morgan Stanley Wealth Management (1.26 trillion U.S. dollars) and JP Morgan Private Bank (774 billion U.S. dollars).

Vanguard's robo-advisor managed 101 billion U.S. dollars of assets as of June 2018. Our Statista Report 2019 shows market sizes on a regional and country level, business models and company profiles of the Fintech Private Wealth Management companies such as SoFi, Betterment, and Wealthfront.

Investment preferences among affluent investors
The asset classes most popular among the high net worth individuals in North America in 2019 were cash and cash equivalents, equities, and fixed income. Cash and cash equivalents, and equities accounted for over half of their allocations in that year.

Interesting statistics

In the following 5 chapters, you will quickly find the 26 most important statistics relating to "Private Wealth Management".

Private wealth management

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Important key figures

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Wealth distribution globally

Wealth distribution in the United States

Wealth management companies

Investment preferences among affluent investors

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