Survey participants favored portfolio performance and product access when choosing a financial advisor. Over half of the survey participants noted their primary reason for switching from their current financial advisor was due to "better investment performance" with another firm. The second most popular reason leading investors to switch financial advisors was access to a "broader range of products". Cost factors such as monetary fees and aligning investments with personal values/culture had less influence over survey participants when choosing to switch financial advisors.

Graph and download economic data for Employed full time: Wage and salary workers: Personal financial advisors occupations: 16 years and over: Men (LEU0254582900A) from 2000 to 2024 about occupation, full-time, males, salaries, workers, financial, 16 years +, wages, personal, employment, and USA.

As of 2022, CAPTRUST was the leading financial advisory firm in the United States managing assets of approximately 655 billion U.S. dollars. Fisher investments ranked second managing assets accumulating to approximately 209 billion U.S. dollars.

Since the beginning of the COVID-19 pandemic, ** percent of Gen Z and Millennials in the United States who didn't have a financial advisor before decided to start working with one. Only *** percent of Baby boomers made a decision to work with financial advisor from now on.

In 2024, *** was the leading financial advisor to global merger and acquisition deals in terms of number of deals. *** led the ranking with *** M&A transactions. Second in the ranking was ********, having advised on ***.

Financial Advisory Services Market Outlook

The global financial advisory services market size was valued at approximately USD 240 billion in 2023 and is projected to reach USD 440 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period. The growth of this market is driven by several factors, including increasing regulatory complexities, rising demand for personalized financial planning, and the growing need for risk management and tax advisory services.

One of the primary growth factors for the financial advisory services market is the increasing regulatory complexities across various industries. As governments worldwide continue to adopt stringent financial regulations, businesses and individuals are seeking expert advice to navigate these challenges. Compliance with tax codes, financial reporting standards, and regulatory requirements necessitates the involvement of financial advisors, thereby fueling market growth. Furthermore, globalization of financial markets has introduced new layers of complexity, making advisory services indispensable for multinational corporations and high-net-worth individuals.

Another significant driver is the rising demand for personalized financial planning. As individuals become more aware of the importance of long-term financial stability, there is a growing demand for customized financial advisory services. Advisors offer tailored strategies for investment, retirement planning, and wealth management, ensuring clients meet their financial goals. This personalized approach not only enhances client satisfaction but also fosters long-term relationships, contributing to market expansion. Additionally, advancements in technology have enabled advisors to offer more precise and efficient services, further boosting demand.

The need for risk management and tax advisory services is also a crucial factor propelling the market. In an era marked by economic uncertainties and volatile markets, both individuals and businesses are increasingly turning to financial advisors for risk mitigation strategies. Advisors help clients identify potential risks, assess their impact, and develop comprehensive risk management plans. Similarly, with ever-changing tax laws and regulations, there is a heightened need for expert tax advisory services. Financial advisors assist clients in optimizing their tax strategies, ensuring compliance, and minimizing tax liabilities, thereby driving market growth.

Regionally, North America dominates the financial advisory services market, owing to the presence of a large number of high-net-worth individuals and a well-established financial sector. However, the Asia Pacific region is anticipated to witness the highest growth during the forecast period. Rapid economic development, urbanization, and increasing disposable incomes in countries like China and India are creating significant opportunities for financial advisory services. Additionally, the growing awareness about financial planning and investments among the younger population in the region further contributes to market growth.

Service Type Analysis

The financial advisory services market is segmented into various service types, including investment advisory, tax advisory, risk management, estate planning, and others. Investment advisory services hold a significant share in the market due to the increasing need for expert advice on investment strategies. Financial advisors provide valuable insights on portfolio management, asset allocation, and market trends, helping clients maximize their returns. The growing complexity of investment options and the need for diversification further drive the demand for investment advisory services.

Tax advisory services are another critical segment in the financial advisory market. With ever-evolving tax laws and regulations, individuals and businesses require expert guidance to navigate the complexities of tax planning and compliance. Financial advisors offer strategies to minimize tax liabilities, optimize tax returns, and ensure adherence to legal requirements. The increasing emphasis on corporate governance and transparency further boosts the demand for tax advisory services, making it a vital component of the market.

Risk management is an essential service type within the financial advisory market. The volatility of financial markets and economic uncertainties necessitate robust risk management strategies. Financial advisors assist clients in identifying potential risks, evaluating their impact, and developing comprehensive plans to mitigate thes

Investment Advisory Service Market Outlook

The global investment advisory service market size was valued at approximately USD 80 billion in 2023 and is projected to reach USD 160 billion by 2032, growing at a compound annual growth rate (CAGR) of 8%. The market is experiencing substantial growth driven by increasing awareness about financial planning, rising demand for personalized investment advice, and the proliferation of digital advisory platforms. The importance of strategic financial planning in an increasingly complex financial landscape has been a significant growth factor, along with technological advancements that have made investment advisory services more accessible and efficient.

One of the primary growth factors for the investment advisory service market is the growing middle-class population worldwide, which is becoming more aware of the need for professional financial planning. As disposable incomes rise, individuals are increasingly seeking ways to invest their money wisely to ensure financial security and growth. Additionally, the aging population in many regions, particularly in North America and Europe, is driving the demand for retirement planning and wealth management services. This demographic segment is keen on securing their financial future, thus availing professional advisory services.

Technological advancements also play a crucial role in market growth. The advent of robo-advisors and AI-driven financial planning tools has made it easier for individuals to access investment advice at a lower cost. These digital platforms offer personalized investment strategies and real-time financial management, which attract tech-savvy customers and younger investors. Furthermore, these technologies enhance the efficiency and reach of traditional advisory firms, allowing them to serve a larger client base without proportionately increasing their operational costs. This convergence of technology and finance is significantly propelling the market forward.

Another notable factor contributing to the market expansion is the increasing complexity of financial products and market volatility. Investors, both individual and institutional, are seeking expert guidance to navigate the intricate world of financial markets. This need is exacerbated by global economic uncertainties and regulatory changes that necessitate specialized knowledge for effective financial decision-making. As a result, there is a growing reliance on professional advisors who can provide insights and strategies tailored to individual investor needs and risk profiles.

In addition to these factors, Risk Advisory Service is becoming increasingly essential for investors navigating the complexities of today's financial markets. These services provide critical insights into potential risks associated with various investment opportunities, helping clients make informed decisions. As financial markets become more volatile and unpredictable, the demand for risk advisory services is on the rise. These services offer a comprehensive analysis of market trends, regulatory changes, and geopolitical factors that could impact investment portfolios. By leveraging advanced analytics and expert insights, risk advisory services help investors mitigate potential losses and optimize their investment strategies. This growing emphasis on risk management is a testament to the evolving nature of financial advisory services, where understanding and managing risk is as crucial as seeking returns.

From a regional perspective, North America holds the largest market share, driven by a high concentration of wealth and a well-established financial advisory industry. The Asia Pacific region, however, is expected to witness the highest growth rate due to the rapid economic development, increasing disposable incomes, and growing awareness about financial planning in emerging economies such as China and India. Europe also presents significant opportunities, especially with the increasing demand for retirement planning services. Meanwhile, Latin America and the Middle East & Africa regions are showing promising growth trends as financial markets in these regions continue to develop and mature.

Service Type Analysis

The investment advisory service market is segmented by service type into financial planning, portfolio management, tax planning, estate planning, and others. Financial planning services are essential for individuals and institutions to meet their financial goals and ensure long-term

The North America Financial Advisory Services Market Report is Segmented by Service Type (Corporate Finance, and More), by Organization Size (Large Enterprises, Small and Medium-Sized Enterprises), by Industry Vertical (BFSI, and More), by Service Channel (Human Advisory, and More), by Delivery Mode (On-Site Consulting, and More), and by Country (USA, Canada, Mexico). The Market Forecasts are Provided in Terms of Value (USD).

Financial overview and grant giving statistics of National Association Of Personal Financial Advisors Inc

Market Size statistics on the Portfolio Management & Investment Advice industry in the US

The global robo-advisor market is poised for significant expansion, projected to reach a substantial size of $1801.50 million by 2025, driven by a robust Compound Annual Growth Rate (CAGR) of 6.6% over the forecast period of 2025-2033. This impressive growth trajectory is fueled by increasing investor demand for accessible, cost-effective, and technologically driven investment solutions. Key drivers include the growing adoption of digital financial services, a desire for personalized investment portfolios, and the inherent convenience offered by automated platforms. The market is segmented into both free and charge-based models, catering to a wide spectrum of investor preferences and financial capabilities. Applications are diverse, with healthcare, retail, and education emerging as key sectors leveraging robo-advisor technology for financial planning and investment management, alongside a broad "Others" category encompassing broader wealth management needs. This dynamic landscape is further shaped by evolving consumer behavior and a continuous push for greater financial inclusivity. Technological advancements and a growing comfort with online financial platforms are reshaping investment strategies. The accessibility and transparency of robo-advisors are particularly appealing to younger demographics and those new to investing, democratizing access to professional portfolio management. While the market is expanding, it faces potential restraints such as the need for enhanced regulatory clarity, investor concerns regarding data security and privacy, and the ongoing challenge of building trust in automated financial advice. However, the sheer momentum of digital transformation and the persistent need for efficient wealth management solutions suggest that these challenges are likely to be navigated. Leading companies like Betterment, Wealthfront, Vanguard Personal Advisor, and Schwab Intelligent Portfolios are at the forefront, innovating and expanding their offerings to capture a larger market share. The competitive landscape is intense, spurring further development and customer-centric strategies. This report offers an in-depth analysis of the global Robo-advisor market, spanning the historical period of 2019-2024 and projecting forward to 2033. Leveraging the base year of 2025 for estimations, the study delves into key market trends, driving forces, challenges, and emerging opportunities. The market's evolution will be dissected through a granular lens, examining the impact of technological advancements, regulatory shifts, and competitive landscapes. The report aims to provide actionable insights for stakeholders, including asset managers, financial institutions, technology providers, and investors, navigating this dynamic sector. With a projected market size in the hundreds of millions of dollars by the end of the forecast period, understanding the intricate workings of the robo-advisor ecosystem is paramount for strategic decision-making and sustained growth.

Financial Planning Software Market Size And Forecast

Financial Planning Software Market size was valued at USD 1882.5 Million in 2023 and is projected to reach USD 4991.49 Million by 2031, growing at a CAGR of 14.30% during the forecast period 2024-2031.

Global Financial Planning Software Market Drivers

The market drivers for the Financial Planning Software Market can be influenced by various factors. These may include:

Technological Progress: AI and Machine Learning By enhancing the capacity to offer individualized financial advice and predictive analytics, the integration of AI and Machine Learning into financial planning software increases user adoption.

Cloud Computing: Small and medium-sized businesses (SMEs) and major organizations alike are drawn to cloud-based financial planning software because of its scalability, affordability, and accessibility.

Mobile Applications: The need for mobile-friendly financial planning solutions is rising as a result of the widespread usage of smartphones and mobile applications, which enable users to manage their finances while on the go.

Regulatory Adjustments: Compliance Requirements To ensure adherence to the stricter regulations and compliance standards in the financial markets, strong financial planning and management tools are required, which in turn drives demand.

Regulations On Data Protection: Secure financial planning software that can safeguard sensitive financial data is necessary in light of strict data protection laws like GDPR.

Increasing Financial Product Complexity: Diverse Financial Instruments To manage and optimize investments, retirement planning, tax strategies, and estate planning, advanced software solutions are needed due to the increasing complexity and diversity of financial goods.

Integration Capabilities: It's really desirable to find financial planning software that can combine different financial services and products into one platform.

Changing Expectations Of The Customer: Personalization: Financial institutions are being forced to use sophisticated planning software as a result of customers' increasing expectations for individualized financial advice and solutions catered to their unique needs and objectives.

User Experience: Software companies are driven to innovate and enhance their interfaces by the need for a smooth and intuitive user experience.

Financial Elements: Growth in Wealth Management As the world's wealth increases, especially in emerging economies, there is a greater need for financial planning tools and services.

Retirement Planning: As a result of the aging population in many areas, software that helps with long-term financial planning is becoming more and more popular.

Competitive Environment: Financial Advisor Tools Using cutting-edge software to obtain a competitive edge is encouraged by the competitive environment among financial advisors and planners.

Cost-Effectiveness: Advisors and financial institutions look for ways to save costs and simplify processes, which increases the use of financial planning software.

Knowledge And Consciousness: Financial Literacy As people and organizations become more aware of the value of financial planning and receive education on it, the use of financial planning tools rises.

Digital Transformation: The incorporation of digital financial planning solutions is encouraged by the ongoing digital transformation occurring across various industries.

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Graph and download economic data for Employed full time: Wage and salary workers: Personal financial advisors occupations: 16 years and over: Women (LEU0254689700A) from 2000 to 2024 about occupation, full-time, females, salaries, workers, financial, 16 years +, wages, personal, employment, and USA.

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Global Wealth Management market size was $703.38 Billion in 2021 and it is forecasted to reach $1062.75 Billion by 2029. Wealth Management Industry's Compound Annual Growth Rate will be 4.78% from 2023 to 2030. Key Dynamics of

Wealth Management Market

Key Drivers of

Wealth Management Market

Increasing Number of High-Net-Worth Individuals (HNWIs): The worldwide rise in HNWIs and ultra-HNWIs is driving the demand for tailored wealth management services. These individuals are in search of expert advice to enhance their portfolios, plan their estates, minimize taxes, and manage risks, which is propelling growth in advisory, discretionary, and family office wealth services.

Escalating Demand for Comprehensive Financial Planning: Clients are progressively pursuing integrated financial guidance that encompasses investment, retirement, estate, and tax planning. Wealth managers who provide thorough, goal-oriented planning are becoming more popular, particularly among millennials and Gen X clients who emphasize financial wellness, legacy management, and long-term security.

Swift Digitization and Adoption of Robo-Advisory Services: Technological innovations have rendered wealth management services more accessible. Robo-advisors, AI technologies, and digital platforms are enhancing client onboarding, portfolio oversight, and financial planning—broadening services to mass affluent demographics while boosting operational efficiency for advisory firms.

Key Restraints for

Wealth Management Market

Fierce Competition and Pressure on Fees: The industry is experiencing heightened competition from fintech startups, robo-advisors, and discount brokers. This has resulted in downward pressure on advisory fees and profit margins, forcing traditional firms to innovate, scale, or redefine their value propositions to stay competitive and profitable.

Regulatory Challenges and Compliance Expenses: Wealth managers are required to comply with various regulatory frameworks across different regions, including MiFID II, SEC regulations, and data protection laws. Compliance expenses, regular reporting, and the threat of penalties present operational difficulties—especially for smaller firms or those providing cross-border advisory services.

Insufficient Financial Literacy Among Prospective Clients: In numerous areas, a deficiency in knowledge regarding financial planning, investment techniques, and wealth preservation hampers market development. Prospective clients may feel reluctant to consult wealth advisors or may depend on informal guidance, which hinders the growth of professional wealth services.

Key Trends in Wealth Management Market

ESG Investing and Values-Driven Portfolios: Clients are increasingly emphasizing Environmental, Social, and Governance (ESG) considerations in their investment choices. Wealth managers are incorporating ESG screening, impact investing, and sustainability metrics into portfolios to resonate with clients' ethical principles and long-term purpose-oriented objectives.

Customization Through Data and Behavioral Insights: Companies are utilizing data analytics and behavioral finance to provide highly personalized investment strategies. By comprehending individual risk tolerance, life aspirations, and financial behaviors, wealth managers can formulate customized plans that strengthen client trust and improve long-term retention.

Hybrid Advisory Models Rising in Popularity: The integration of human advisors with digital tools is becoming a favored service model. Hybrid platforms combine the personalization of traditional advisors with the efficiency and cost-effectiveness of automation, appealing to both technology-oriented and relationship-focused investors.

Factors Affecting Wealth Management market growth

The expansion of the wealth management market is primarily driven by the increase in the population of high-net-worth people. There were around 20.8 million high-net-worth people (HNWIs) in the globe as of 2020. The United States, Japan, Germany, and China are home to about 63% of the world's HNWIs, according to the Capgemini World Wealth Report. In 2021, there were 7.5 million HNWIs in the U.S., a 13.5% increase from the previous year. These people frequently use the help of financial experts to handle their finances, and their high net worth frequently qualifies them...

The social media usage by registered U.S. Securities and Exchange Commission advisors, to connect with clients and potential clients, grew in 2022 compared to 2017. Many advisors use more than one social media platform and the share of users grew for all platforms surveyed in 2022. The most commonly used social media platform by investment advisors in 2022 was LinkedIn, which was used by 56.3 percent of respondents as of early 2022.

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