WealthTech Solution Market Size, Share & Industry Analysis By Component (Solution, Services), By Deployment Mode (Cloud, On-premises), By Organization Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), By End-User (Banking, Investment Firms, Wealth Management Firms, Others) And Regional Forecast, 2024-2032

WealthTech solution are solutions used for wealth planning management. It is a convergence between digitalization and the investment and wealth management sector. WealthTech solution uses cutting-edge technologies such as Big Data and artificial intelligence (AI), to provide an alternative to traditional wealth management firms. Key vendors operating in the market combines finance with technology to provide alternative way to spend, organize, and receive the money for an individual or a company. Adoption of WealthTech solution in financial organization seamlessly manage, invest, and save money. WealthTech solution is capable of addressing business to business (B2B) and business to customer (B2C) and make the process simplified.

Furthermore, there is significant rise in venture capital funding into WealthTech firms across the globe.

• WealthTech startups attracted significant venture capital (VC) funding during the last five years. In 2019, investment reached an all-time high at $2.3 billion.

WealthTech solution is used by companies and organizations of all sizes to achieve their financial goals successfully. WealthTech solution provide various advantages such as more cost transparency, efficient portfolio management, enhanced customer service, and improved liquidity of assets. WealthTech solutions are used for digitizing management of customer relationships, retirement savings, comprehensive analysis of financial data, and digitizing process/outsourcing automation. Also, they are used for complicated tax planning, cash flows, legacy planning, and strategic estate planning. All these benefits are propelling the growth of the market.

IMPACT OF COVID-19 ON WEALTHTECH SOLUTION MARKET

The COVID-19 had unprecedented impact on the enterprises, healthcare, and IT sector. Rising adoption of WealthTech solution, as enterprises have started to increase their spending on marketing due to COVID-19 pandemic, which is expected to boost the demand for WealthTech solution. During the COVID-19 pandemic, various business sector that includes banking, investment firms, and wealth management firms are facing several challenges, such as ensuring optimal business operations and managing the health of the workforce. However, WealthTech solutions helped businesses, consumers, and communities across the globe to meet rising demand for accountability during the crisis. Also, it is anticipated that post COVID-19 people will require a better advisor that help them to manage their commercial and financial affairs and this factor is expected to bolster the demand for WealthTech solution.

KEY INSIGHTS

The report will cover following key insights:

• Number of WealthTech Solution – For Key Financial Firms


• Inbound of WealthTech Solution by Country/Region of Origin – For Key Financial Firms


• Overview of Financial Institutes - For Key Financial Firms


• Average Price of Selective Investment Management Services - For Key Financial Firms


• Impact of COVID-19 on WealthTech Solution Market

REGIONAL ANALYSIS

North America is expected hold the largest market share in the global market. Rising need for an enhanced WealthTech Solution and rapid adoption of cloud services boost the demand for WealthTech Solution market in this region. The presence of major market players such as BlackRock, Inc., FinMason, Inc., InvestCloud, WealthTechs Inc. among others are involved in partnership, acquisitions, developing new products and product enhancements, this fosters the market growth in this region. For instance, In May 2021, InvestCloud acquired Advicent, a provider of premier cash flow, trust and tax financial planning services headquartered at Wisconsin, United States. Through this acquisition InvestCloud aims to develop technologically advanced financial planning solution and increase its customer base.

Asia Pacific is anticipated to showcase significant growth during forecast period. Growing adoption of digitization and utilization cloud-based WealthTech solution across India, Singapore, South Korea and others are expected to drive the market growth rapidly in this region. In addition, presence of prominent number of small and medium enterprises which are moving towards adoption of SaaS and cloud-based technology to develop cost-effective and highly customizable financial planning solutions is propelling demand for WealthTech solution in the region.

KEY PLAYERS COVERED

The report will include the profiles of Key players such as Aixigo AG, BlackRock, Inc., FinMason, Inc., Fintech, InvestCloud, Valuefy, Wealthfront Corporation, WealthTechs Inc. and others.

Key players in the market like Aixigo AG, BlackRock, Inc., FinMason, Inc., InvestCloud, etc. are entering into strategic partnerships and collaborations to expand the business. Market players are focused on new product launch and product enhancement in existing product to accelerate market growth.

SEGMENTATION

KEY INDUSTRY DEVELOPMENTS

• April 2021- Wealthfront Corporation introduced a novel feature into its investment portfolios, that will provide Socially Responsible Investing (SRI) options to clients and enable them to invest in a broader range of carefully vetted exchange-traded funds (ETFs).


• November 2020- BlackRock, Inc. acquired Aperio Group, a provider of separately managed accounts (SMAs) headquartered at Massachusetts, United States. This acquisition took place for USD 1 billion and BlackRock, Inc. aims to provide enhance SMA portfolios for clients.