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Financial Advisory Services Market Trends

Report ID: GMI7312
Published Date: Nov 2023
Report Format: PDF

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Financial Advisory Services Market Trends

Personalization in financial advisory services signifies a shift toward crafting individualized financial solutions. Clients seek tailored advice that aligns with their unique financial goals, risk tolerance, and preferences. Financial advisors employ data-driven insights and technology to create personalized investment strategies, offering a more focused approach. This trend ensures that services are precisely aligned with each client's specific circumstances, improving satisfaction, engagement, and the effectiveness of financial planning.

The rising adoption of robo-advisors reflects the increasing reliance on algorithm-driven advisory services in the financial market. Robo-advisors leverage algorithms to offer automated & cost-effective investment advice, asset allocation, and portfolio management. This trend caters to tech-savvy investors seeking low-cost solutions. It provides efficient & accessible investment guidance while simplifying the investment process. It also appeals to a broader demographic and is reshaping the delivery of financial advisory services.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of financial advisory services reached USD 85.1 billion in 2022 and is set to grow at a CAGR of over 5.5% between 2023 and 2032, favored by the rising investments in AI.

The large enterprises segment was valued at over USD 45 billion in 2022, as these organizations have a strong position and diverse financial requirements, thus seeking specialized financial advisory services to optimize cash flow, risk management, and financial growth strategies.

North America held a dominant market share of over 40% in 2022 and maintain the position as the region hosts a large number of high-net-worth individuals and corporations with intricate financial needs, which drives the demand for sophisticated financial advice & investment strategies.

Ameriprise Financial, Bank of America Merrill Lynch, BlackRock, Charles Schwab, Citigroup Inc., Goldman Sachs, JPMorgan Chase & Co., Morgan Stanley, UBS Group AG, and Wells Fargo Advisors.