North America Wealth Management Platform Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Advisory Model (Human Advisory, Robo-Advisory, and Hybrid), Business Function (Performance Management, Risk and Compliance Management, Portfolio Accounting and Trading Management, Financial Advice Management, Reporting, and Others), Deployment Type (Cloud and On-Premises), and End User (Investment Management Firms, Trading and Exchange Firms, Banks, Brokerage Firms, and Others)
The wealth management platform market in North America is expected to grow from US$ 1,348.97 million in 2021 to US$ 2,972.67 million by 2028; it is estimated to grow at a CAGR of 11.9% from 2021 to 2028.
The US, Canada, and Mexico are major economies in North America. The financial sector is continually adopting advanced technologies to provide financial services in cheaper and efficient ways. These advanced and creative technologies garnered attention during the global financial crisis of 2007–2008, when strict rules were imposed on conventional banks, and innovations in the IT industry increased the incentives for expanding nonbank and technology-based financial enterprises. For instance, a few technological revolutions in the finance sector comprise mobile payments, ATMs (automated teller machines), and trade finance using blockchain. The technological interruptions in wealth management services consist of Robo-advisors and automated financial advisors designed to compete with human advisors. Robo-advisors advise various investing techniques for goals, such as saving for significant expenses, retirement, and maintaining a stream of income to handle expenses effectively. Advantages of Robo-advisory management wealth services over traditional services, involving human advisory, are easy accessibility, affordability, and the ability to offer their clients the option to obtain financial advice and handle investments at any time, from any place, with the help of an Internet connection. Robo-advisory allows the wealth management players to provide their services at low fees, permitting them to expand into the target market. North America was the first region to introduce automated financial advisors (robo-advisory). Wealth management organizations and banks in the US have implemented Robo-advisory services to offer comprehensive, effective, and efficient services. Key reasons that led to the early acceptance of this technology across the region are increased cost and accessibility, supported by rising internet penetration and cheap financial aid fees. These factors lead to the growth of the wealth management platform market in North America.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America wealth management platform market. The market is expected to grow at a good CAGR during the forecast period.
North America Wealth Management Platform Market Revenue and Forecast to 2028 (US$ Million)
North America Wealth Management Platform Market Segmentation
The North America wealth management platform market is segmented on the basis of advisory model, business function, deployment type, end user, and country. The market, based on advisory model, is segmented into human advisory, robo-advisory, and hybrid. The human advisory segment held the largest market share in 2020. The North America wealth management platform market, by business function, is segmented into performance management, risk and compliance management, portfolio accounting and trading management, financial advice management, reporting, and others. The portfolio accounting and trading management segment held the largest market share in 2020. The market, by deployment type, is segmented into cloud and on-premises. The cloud-based segment held a larger market share in 2020. The North America wealth management platform market, by end user, is segmented into trading and exchange firms, banks, brokerage firms, investment management firms, and others. The investment management firms segment held the largest market share in 2020. Based on country, the North America wealth management platform market is segmented into the US, Canada, and Mexico. The US held the largest market share in 2020. Broadridge Financial Solutions, Inc.; Comarch SA; FIS Global; Fiserv, Inc.; InvestCloud; InvestEdge, Inc.; Profile Software S.A.; SEI Investments Developments, Inc.; SS&C Technologies, Inc.; and Temenos Headquarters SA are among the leading companies in the market.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Wealth Management Platform Market – By Business Function
1.3.2 North America Wealth Management Platform Market – By Advisory Model
1.3.3 North America Wealth Management Platform Market – By Deployment Type
1.3.4 North America Wealth Management Platform Market – By End User
1.3.5 North America Wealth Management Platform Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Wealth Management Platform Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Wealth Management Platform Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Adoption of Robo Advisors in Wealth Management
5.2 Market Restraints
5.2.1 High-Profile Data Privacy and Security Concerns
5.3 Market Opportunities
5.3.1 Rising Awareness of Long-Term Financial Planning
5.4 Future Trends
5.4.1 Combination of AI and Analytics in Wealth Management Platforms
5.5 Impact Analysis of Drivers and Restraints
6. Wealth Management Platform Market – North America Analysis
6.1 North America Wealth Management Platform Market Overview
6.2 North America Wealth Management Platform Market Forecast and Analysis
7. North America Wealth Management Platform Market – By Deployment Type
7.1 Overview
7.2 North America Wealth Management Platform, by Deployment Type (2020 and 2028)
7.3 Cloud
7.3.1 Overview
7.3.2 Cloud: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
7.4 On-Premise
7.4.1 Overview
7.4.2 On-Premise: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Wealth Management Platform Market – By Advisory Model
8.1 Overview
8.2 North America Wealth Management Platform, by Advisory Model (2020 and 2028)
8.3 Human advisory
8.3.1 Overview
8.3.2 Human Advisory: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Robo Advisory
8.4.1 Overview
8.4.2 Robo Advisory: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Hybrid
8.5.1 Overview
8.5.2 Hybrid: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Wealth Management Platform Market – By Business Function
9.1 Overview
9.2 North America Wealth Management Platform, by Business Function (2020 and 2028)
9.3 Performance Management
9.3.1 Overview
9.3.2 Performance Management: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Risk and Compliance Management
9.4.1 Overview
9.4.2 Risk and Compliance Management: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Portfolio Accounting and Trading Management
9.5.1 Overview
9.5.2 Portfolio Accounting and Trading Management: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Financial Advice Management
9.6.1 Overview
9.6.2 Financial Advice Management: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Reporting
9.7.1 Overview
9.7.2 Reporting: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
9.8 Others
9.8.1 Overview
9.8.2 Others: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Wealth Management Platform Market Analysis– By End User
10.1 Overview
10.2 North America Wealth Management Platform Market, by End User (2020 and 2028)
10.3 Investment Management Firms
10.3.1 Overview
10.3.2 Investment Management Firms: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Trading & Exchange Firms
10.4.1 Overview
10.4.2 Trading & Exchange Firms: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
10.5 Banks
10.5.1 Overview
10.5.2 Banks: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
10.6 Brokerage Firms
10.6.1 Overview
10.6.2 Brokerage Firms: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
10.7 Others
10.7.1 Overview
10.7.2 Others: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
11. North America Wealth Management Platform Market – Country Analysis
11.1 Overview
11.1.1 North America Wealth Management Platform Market Breakdown, By Country
11.1.1.1 US Wealth Management Platform Market, Revenue and Forecast To 2028 (US$ Mn)
11.1.1.1.1 US Wealth Management Platform Market Breakdown, By Advisory Model
11.1.1.1.2 US Wealth Management Platform Market Breakdown, By Business Function
11.1.1.1.3 US Wealth Management Platform Market Breakdown, By Deployment Type
11.1.1.1.4 US Wealth Management Platform Market Breakdown, By End User
11.1.1.2 Canada Wealth Management Platform Market, Revenue and Forecast To 2028 (US$ Mn)
11.1.1.2.1 Canada Wealth Management Platform Market Breakdown, By Advisory Model
11.1.1.2.2 Canada Wealth Management Platform Market Breakdown, By Business Function
11.1.1.2.3 Canada Wealth Management Platform Market Breakdown, By Deployment Type
11.1.1.2.4 Canada Wealth Management Platform Market Breakdown, By End User
11.1.1.3 Mexico Wealth Management Platform Market, Revenue and Forecast To 2028 (US$ Mn)
11.1.1.3.1 Mexico Wealth Management Platform Market Breakdown, By Advisory Model
11.1.1.3.2 Mexico Wealth Management Platform Market Breakdown, By Business Function
11.1.1.3.3 Mexico Wealth Management Platform Market Breakdown, By Deployment Type
11.1.1.3.4 Mexico Wealth Management Platform Market Breakdown, By End User
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
13. Company Profiles
13.1 Broadridge Financial Solutions, Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Comarch SA
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 FIS Global
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 InvestCloud
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Fiserv, Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 InvestEdge, Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 PROFILE SOFTWARE S.A
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 SEI Investments Developments, Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 SS&C Technologies, Inc.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Temenos Headquarters SA
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary
LIST OF TABLES
Table 1. North America Wealth Management Platform Market, Revenue and Forecast, 2019–2028 (US$ Mn)
Table 2. US Wealth Management Platform Market, Revenue and Forecast To 2028 – By Advisory Model (US$ Mn)
Table 3. US Wealth Management Platform Market, Revenue and Forecast To 2028 – By Business Function (US$ Mn)
Table 4. US Wealth Management Platform Market, Revenue and Forecast To 2028 – By Deployment Type (US$ Mn)
Table 5. US Wealth Management Platform Market, Revenue and Forecast To 2028 – By End User (US$ Mn)
Table 6. Canada Wealth Management Platform Market, Revenue and Forecast To 2028 – By Advisory Model (US$ Mn)
Table 7. Canada Wealth Management Platform Market, Revenue and Forecast To 2028 – By Business Function (US$ Mn)
Table 8. Canada Wealth Management Platform Market, Revenue and Forecast To 2028 – By Deployment Type (US$ Mn)
Table 9. Canada Wealth Management Platform Market, Revenue and Forecast To 2028 – By End User (US$ Mn)
Table 10. Mexico Wealth Management Platform Market, Revenue and Forecast To 2028 – By Advisory Model (US$ Mn)
Table 11. Mexico Wealth Management Platform Market, Revenue and Forecast To 2028 – By Business Function (US$ Mn)
Table 12. Mexico Wealth Management Platform Market, Revenue and Forecast To 2028 – By Deployment Type (US$ Mn)
Table 13. Mexico Wealth Management Platform Market, Revenue and Forecast To 2028 – By End User (US$ Mn)
Table 14. Glossary of Terms, North America Wealth Management Platform Market
LIST OF FIGURES
Figure 1. North America Wealth Management Platform Market Segmentation
Figure 2. North America Wealth Management Platform Market Segmentation - Country
Figure 3. North America Wealth Management Platform Market Overview
Figure 4. North America Wealth Management Platform Market, By Advisory Model
Figure 5. North America Wealth Management Platform Market, By Deployment Type
Figure 6. North America Wealth Management Platform Market, By Country
Figure 7. North America: PEST Analysis
Figure 8. North America Wealth Management Platform Market Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. North America Wealth Management Platform Market Impact Analysis of Drivers and Restraints
Figure 11. North America Wealth Management Platform Market, Forecast and Analysis (US$ Mn)
Figure 12. North America Wealth Management Platform Market Revenue Share, by Deployment Type (2020 and 2028)
Figure 13. North America Cloud: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America On-Premise: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Wealth Management Platform Market Revenue Share, by Advisory Model (2020 and 2028)
Figure 16. North America Human Advisory: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America Robo Advisory: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. North America Hybrid: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Wealth Management Platform Market Revenue Share, by Business Function (2020 and 2028)
Figure 20. North America Performance Management: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America Risk and Compliance Management: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America Portfolio Accounting and Trading Management: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. North America Financial Advice Management: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. North America Reporting: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. North America Others: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. North America Wealth Management Platform Market Revenue Share, by End User (2020 and 2028)
Figure 27. North America Investment Management Firms: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. North America Trading & Exchange Firms: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. North America Banks: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. North America Brokerage Firms: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. North America Others: Wealth Management Platform Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. North America Wealth Management Platform Market, by Key Country - Revenue (2020) (US$ Mn)
Figure 33. North America Wealth Management Platform Market Breakdown, By Country, 2020 and 2028(%)
Figure 34. US Wealth Management Platform Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 35. Canada Wealth Management Platform Market, Revenue and Forecast To 2028 (US$ Mn)
Figure 36. Mexico Wealth Management Platform Market, Revenue and Forecast To 2028 (US$ Mn)
- Broadridge Financial Solutions, Inc.
- Comarch SA
- FIS Global
- Fiserv, Inc.
- InvestCloud
- InvestEdge, Inc.
- Profile Software S.A.
- SEI Investments Developments, Inc.
- SS&C Technologies, Inc.
- Temenos Headquarters SA