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Wealth Management Industry to Reach $180.90 Trillion by 2031 as Digital Advisory and Private Markets Accelerate Growth

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MS Morgan Stanley is listed as a key player in the wealth management market, which is projected to grow significantly. The article does not provide specific positive or negative sentiment towards the company itself. JPM J.P. Morgan Chase is identified as a major company in the wealth management sector, which is expected to experience substantial growth. The article does not offer specific sentiment for the company. BAC Bank of America is mentioned as a significant entity in the wealth management industry, which is forecasted to expand. The article does not provide explicit sentiment for the company. GS Goldman Sachs is listed as a key participant in the wealth management market, which is projected to grow. The article does not contain specific positive or negative sentiment for the company. SCHW Charles Schwab is identified as a company within the wealth management industry, which is expected to see significant growth. The article does not provide specific sentiment for the company. AMP Ameriprise Financial is mentioned as a company in the wealth management sector, which is forecasted to expand. The article does not offer specific sentiment for the company. WFC Wells Fargo is listed as a participant in the wealth management industry, which is projected to grow. The article does not contain specific positive or negative sentiment for the company. COF Citigroup is identified as a company within the wealth management industry, which is expected to see significant growth. The article does not provide specific sentiment for the company. NTRS Northern Trust is mentioned as a company in the wealth management sector, which is forecasted to expand. The article does not offer specific sentiment for the company. RJF Raymond James Financial is listed as a participant in the wealth management industry, which is projected to grow. The article does not contain specific positive or negative sentiment for the company. BK Bank of New York Mellon is identified as a company within the wealth management industry, which is expected to see significant growth. The article does not provide specific sentiment for the company.

Wealth Management Industry to Reach $180.90 Trillion by 2031 as Digital Advisory and Private Markets Accelerate Growth Dublin, Aug. 18, 2026 (GLOBE NEWSWIRE) -- The "Wealth Management - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)" has been added to ResearchAndMarkets.com's offering.

The market report analyzes the industry by client type, asset class, provider type, delivery model, and geography. Market forecasts are provided in terms of value in USD.

The global wealth management market is forecast to increase from USD 118.56 trillion in 2025 to USD 127.72 trillion in 2026 before reaching USD 180.90 trillion by 2031. The market is projected to register a compound annual growth rate (CAGR) of 7.21% from 2026 to 2031, supported by expanding high-net-worth populations, intergenerational wealth transfers, digital advisory adoption, and growing demand for alternative investments.

Global Wealth Management Market Trends and Growth Drivers

The continued expansion of the global high-net-worth individual (HNWI) population is increasing demand for investment management, estate planning, tax coordination, succession strategies, and private asset access. The global HNWI population reached 25.3 million in 2025, representing year-over-year growth of 7.9%, while the ultra-high-net-worth segment increased by 9.4% to nearly 250,000 individuals. North America remained the largest wealth pool, while Asia-Pacific recorded regional wealth growth of 10.5% in 2025.

Advisor capacity is becoming a strategic issue as the addressable client base expands. Research indicates that the United States could face a shortage of approximately 100,000 financial advisors by 2034 at current productivity levels. Wealth management companies are consequently investing in workflow automation, artificial intelligence, hybrid advisory platforms, and advisor productivity tools to scale client service without relying exclusively on recruitment.

Intergenerational wealth transfer is another major catalyst for the wealth management market. An estimated USD 124 trillion is expected to transfer between generations through 2048, increasing demand for trusts, estate planning, family governance, ownership transitions, and multi-generational advisory relationships. Firms capable of coordinating investment, legal, tax, governance, and succession requirements are positioned to capture a larger share of this opportunity.

Fee compression remains a significant market restraint. Average asset-based fees for clients holding at least USD 1.5 million declined by 2 basis points between 2020 and 2024, with an additional decline projected by 2026. Greater pricing transparency, automation, and competition from scaled providers are encouraging firms to differentiate through tax optimization, estate coordination, private market access, and life-stage financial planning.

Additional factors shaping the global wealth management industry include:

Wealth Management Market Segment Analysis

HNWIs represented 62.17% of the wealth management market in 2025, reflecting their larger account balances and demand for lending, estate planning, tax services, private assets, and customized portfolios. The mass affluent segment is forecast to record the fastest growth, registering a 9.79% CAGR through 2031. Digital platforms, hybrid delivery models, and lower servicing costs are making this historically underpenetrated client segment increasingly attractive to wealth management providers.

Equities accounted for 46.58% of the market in 2025 and remained the leading asset class. Alternative investments are projected to expand at a 10.96% CAGR through 2031, driven by demand for private equity, private credit, infrastructure, hedge funds, and new access vehicles. Industry surveys indicate that a substantial majority of advisors plan to increase alternative investment allocations, although valuation transparency, liquidity, governance, and regulatory oversight remain important considerations.

Human advisory continues to play a central role in complex client relationships, particularly among HNWIs and ultra-high-net-worth individuals. However, hybrid advisory is gaining momentum by combining advisor expertise with automated portfolio management, analytics, and digital engagement. Robo-advisory platforms are also expanding access among mass affluent and digitally focused investors.

Regional Wealth Management Market Outlook

North America held 37.78% of the global wealth management market in 2025, making it the largest regional market. The United States remains the primary contributor due to its deep capital markets, established advisory ecosystem, significant private wealth, and substantial intergenerational transfer opportunity. The country added approximately 736,000 new millionaires in 2025, while Canada also recorded continued millionaire growth.

Asia-Pacific is expected to be the fastest-growing regional market, with a projected CAGR of 9.36% through 2031. Regional assets under management are forecast to reach USD 34.5 trillion by 2030. Singapore remains a prominent cross-border wealth hub, while China, India, Japan, Thailand, Malaysia, and Vietnam are generating increased demand for investment advisory, international structuring, succession planning, and private banking services.

Europe continues to represent a major global wealth center, led by Germany, the United Kingdom, and France. The region's HNWI population grew by 6.5% in 2025, while Europe accounts for approximately one-quarter of the global ultra-high-net-worth population. Cross-border advisory, family office services, private banking, and regulatory compliance remain central to the European market.

The Middle East and Africa present varied opportunities shaped by energy markets, economic diversification, and domestic financial market development. South America remains a smaller market by asset value, with Brazil serving as its principal growth engine. Across these regions, evolving reporting standards and cross-border regulations are influencing wealth structuring and advisory demand.

Key Topics Covered

1 INTRODUCTION

1.1 Study Assumptions and Market Definition

1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

4.1 Market Overview

4.2 Market Drivers

4.2.1 Rising Global High Net Worth Individual Population

4.2.2 Intergenerational Wealth Transfer and Succession Planning Demand

4.2.3 Expansion of Hybrid Advisory and AI-Enabled Client Service Models

4.2.4 Growth of Private Markets, Alternatives, and Customized Portfolios

4.2.5 Cross-Border Wealth Structuring and International Tax Complexity

4.2.6 Greater Demand for Consolidated Financial Planning Across Life Stages

4.3 Market Restraints

4.3.1 Fee Compression in Core Advisory and Execution Services

4.3.2 Compliance Burden Across Multi-Jurisdiction Wealth Platforms

4.3.3 Talent Retention Pressure in Senior Advisor and Relationship Manager Roles

4.3.4 Client Trust Friction Around Data Use, AI Explainability, and Digital Advice

4.4 Value Chain Analysis

4.5 Regulatory Landscape

4.6 Technological Outlook

4.7 Porter's Five Forces Analysis

4.7.1 Bargaining Power of Buyers

4.7.2 Bargaining Power of Suppliers

4.7.3 Threat of New Entrants

4.7.4 Threat of Substitutes

4.7.5 Intensity of Competitive Rivalry

5 MARKET SIZE AND GROWTH FORECASTS, VALUE

5.1 By Client Type

5.1.1 UHNWI

5.1.2 HNWI

5.1.3 Mass Affluent

5.2 By Asset Class

5.2.1 Equities

5.2.2 Fixed Income

5.2.3 Alternatives

5.2.4 Cash and Cash Equivalents

5.2.5 Others

5.3 By Provider Type

5.3.1 Banks

5.3.2 Family Offices

5.3.3 Others (Independent/External Asset Managers)

5.4 By Delivery Model

5.4.1 Human Advisory

5.4.2 Hybrid Advisory

5.4.3 Robo Advisory

5.5 By Geography

5.5.1 North America

5.5.1.1 United States

5.5.1.2 Canada

5.5.1.3 Mexico

5.5.2 South America

5.5.2.1 Brazil

5.5.2.2 Argentina

5.5.2.3 Rest of South America

5.5.3 Europe

5.5.3.1 United Kingdom

5.5.3.2 Germany

5.5.3.3 France

5.5.3.4 Italy

5.5.3.5 Spain

5.5.3.6 Rest of Europe

5.5.4 Asia-Pacific

5.5.4.1 China

5.5.4.2 Japan

5.5.4.3 India

5.5.4.4 South Korea

5.5.4.5 Australia

5.5.4.6 Indonesia

5.5.4.7 Thailand

5.5.4.8 Malaysia

5.5.4.9 Singapore

5.5.4.10 Vietnam

5.5.4.11 Rest of Asia-Pacific

5.5.5 Middle East and Africa

5.5.5.1 Saudi Arabia

5.5.5.2 United Arab Emirates

5.5.5.3 Turkey

5.5.5.4 South Africa

5.5.5.5 Egypt

5.5.5.6 Rest of Middle East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Market Concentration

6.2 Strategic Moves

6.3 Market Share Analysis

6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share, Products and Services, Recent Developments)

6.4.1 Morgan Stanley

6.4.2 UBS Group AG

6.4.3 J.P. Morgan Chase and Co.

6.4.4 Bank of America Corp.

6.4.5 The Goldman Sachs Group Inc.

6.4.6 Charles Schwab Corp.

6.4.7 Ameriprise Financial Inc.

6.4.8 Wells Fargo and Co.

6.4.9 Citigroup Inc.

6.4.10 Northern Trust Corp.

6.4.11 Raymond James Financial Inc.

6.4.12 HSBC Holdings Plc

6.4.13 BNP Paribas

6.4.14 Barclays PLC

6.4.15 DBS Group Holdings Ltd.

6.4.16 Nomura Holdings Inc.

6.4.17 Pictet Group

6.4.18 Julius Baer Group Ltd.

6.4.19 Lombard Odier Group

6.4.20 Bank of New York Mellon Corp.

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

7.1 White-Space and Unmet-Need Assessment

For more information about this report visit https://www.researchandmarkets.com/r/7m7ile

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