Private wealth management - statistics & facts
Private wealth management has developed significantly in recent years as a result of the growth of affluence worldwide. The number of millionaires in North America more than doubled between 2010 and 2022. A similar trend can be observed in the Asia-Pacific and Europe. The total wealth of the adult population in Europe has steadily increased since 2010. Private Wealth Management is an increasingly important service as the rate of wealth continues to increase among the general population and affluent high-net-worth-individuals. Coupled with the recent developments in the Fintech market, this has helped to open up new Private Wealth Management products and services to people with smaller amounts of disposable income and expanding services offered to larger clients.
How is wealth distributed globally?
When reviewing the highest number of high net worth (UHNW) individuals globally per city, the United States was most prominently mentioned on this list. However, the wealth increase being experienced in the Asia-Pacific region cannot be overlooked. The country with the highest concentration of billionaires in 2023 was China. The United States followed in second place, with India ranking third. The gross wealth per adult in the Asia-Pacific region has been experiencing a relatively stable increase in the past few years. China has played and continues to play a significant role in this growing trend. As the number of millionaires in the Asia-Pacific region is forecast to grow in the coming years, China is projected to have the largest number of millionaires in the Asia-Pacific region by 2027.
The importance of wealth management companies
Private Wealth Management refers to the management of assets of high-net-worth individuals (HNWI) or accredited investors. The role of a private wealth manager is to create a tight working relationship with clients based on the investor's expected use of wealth manager services. Wealth managers must understand the financial needs of their clients and help create a portfolio that achieves the client's financial goals. As of 2023, the most common driver for global investors to select a wealth manager was to try and secure better investment performance. Investors may have various perceptions of the expected use case of a wealth manager
How is wealth distributed globally?
When reviewing the highest number of high net worth (UHNW) individuals globally per city, the United States was most prominently mentioned on this list. However, the wealth increase being experienced in the Asia-Pacific region cannot be overlooked. The country with the highest concentration of billionaires in 2023 was China. The United States followed in second place, with India ranking third. The gross wealth per adult in the Asia-Pacific region has been experiencing a relatively stable increase in the past few years. China has played and continues to play a significant role in this growing trend. As the number of millionaires in the Asia-Pacific region is forecast to grow in the coming years, China is projected to have the largest number of millionaires in the Asia-Pacific region by 2027.
The importance of wealth management companies
Private Wealth Management refers to the management of assets of high-net-worth individuals (HNWI) or accredited investors. The role of a private wealth manager is to create a tight working relationship with clients based on the investor's expected use of wealth manager services. Wealth managers must understand the financial needs of their clients and help create a portfolio that achieves the client's financial goals. As of 2023, the most common driver for global investors to select a wealth manager was to try and secure better investment performance. Investors may have various perceptions of the expected use case of a wealth manager
