Wealth Management Platform Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Wealth Management Platform Market is Segmented by Deployment Type (On-premise and Cloud), End-user Industry (Banks, Trading Firms, Brokerage Firms, and Investment Management Firms), and Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Wealth Management Platform Market Size

Wealth Management Platform Market Summary
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Study Period 2018 - 2028
Market Size (2023) USD 4.66 Billion
Market Size (2028) USD 8.99 Billion
CAGR (2023 - 2028) 14.04 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Wealth Management Platform Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Wealth Management Platform Market Analysis

The Wealth Management Platform Market size is expected to grow from USD 4.66 billion in 2023 to USD 8.99 billion by 2028, at a CAGR of 14.04% during the forecast period (2023-2028).

  • The robust wealth management platforms support various digital channels, such as smartphones, tablets, and browsers. This support enables cross-channel experiences, reducing friction between a financial institution's customers and financial advisors and resulting in more efficient operations. Also, the trading and investment management fees are dropping to zero while firms wrestle with decreasing margins. This has led to a requirement for digitizing processes and finding efficiencies elsewhere.
  • Customer-centric business priorities, such as fully-digitized client onboarding, financial planning, and secure, real-time collaboration between the client and the financial advisor, thus, driving the wealth management platforms stand out. Some venues offer AI components such as machine learning, natural language processing, and digital process automation to reduce exceptions, making the onboarding process paperless and frictionless.
  • Wealth management firms have an increasing opportunity to use technology to take their offerings down the market. Moreover, hiring and retaining talent to provide a personal touch are significant cost drivers in the wealth management arena.
  • One significant challenge for potential entrants is expensive property prices for establishing branch locations. The wealth management model is based on a high-touch client relationship; therefore, establishing a physical presence is critical.
  • The COVID-19 crisis has affected wealth management (WM) on multiple levels. Many wealth management companies must adjust their client engagement model substantially to remain the trusted partner for their clients in these challenging times. The pandemic forced wealth management business by emphasizing intelligent business process investments. Another accelerated trend pertains to technologies such as artificial intelligence (AI) to enhance personalization and advisor effectiveness.

Wealth Management Platform Market Trends

Investment Management Firms are Expected to Drive Market Growth

  • Investment management is handling financial assets and other investments by professionals for clients, generally by utilizing strategies and executing trades within a portfolio. The investment management industry has significantly changed over the years due to several developments, such as digitalization and automation. Low yields and increased volatility have considerably driven portfolio managers to implement sophisticated strategies straining their existing infrastructure. The use of derivatives has grown significantly, but most firms have concerns about their ability to handle them.
  • In addition, global regulation has become much more pervasive on the buyer side, resulting in operational and compliance challenges for investment managers. New reporting, clearing, and margin requirements rules are pushing firms to revamp their processes and replace legacy systems. All these factors are driving investment management firms to utilize wealth management solutions.
  • Various wealth management platforms in the market have a control center that offers users real-time portfolio insights and the ability to act instantly. The workstation organizes all position and risk data, ensuring that investment managers work with up-to-date and accurate information.
  • In June 2023, PureFacts Financial Solutions, a revenue management solutions supplier for the investment management sector, stated that its fee and billing calculation engine would be integrated into Pershing X's Wove wealth management platform, a technology provider and new business unit of BNY Mellon. Wealth management organizations using the Pershing X platform can better account for every dollar of value with less overhead and more automated, accurate, and repeatable workflows with the integration of PureFacts.
  • According to a report published by CNNIC in February 2022, China witnessed more than 194 million online wealth management users in 2021. The country is also seeing a rise in the Fintech industry. The economic rise created a wealthy class of high-net-worth individuals with a demand for investment opportunities.
Wealth Management Platform Market: Leading Investment Management Firms Worldwide 2022, By Asset Under Management (AUM), In USD Trillion

North America is Expected to Hold a Significant Market Share

  • The United States represents the largest economy globally and has been a significant market for wealth management platforms in the North American region. Several trends, like the advent of blockchain, machine learning, natural language processing, digital process automation to reduce exceptions, and a push toward digitalization are aiding the growth of the market in the region.
  • Wealth management offerings in the North American region are essential to attracting and retaining profitable retail customers. For instance, affluent mass customers in the region represent a significant part of the net income generated by retail banks. Their relationship with a provider of wealth management services is expected to be their most important financial relationship. As a result, many diversified financial services firms in the region expanded their wealth management businesses.
  • The industry in the region is witnessing a significant change where a new generation of investors, whose expectations and preferences have been shaped by new technologies and their living through the last financial crisis, have brought new standards to the industry regarding how investment products are offered.
  • In May 2023, American Bank & Trust joined forces with wealth tech Marstone to provide a digital wealth management platform across its locations. The bank provides a wealth management solution through its trust arm, which manages more than USD 300 million in assets. Marstone's wealth management-as-a-service business intends to grow by boosting productivity to maintain existing client deposits and attract new retail bank customers.
  • Customers in the region are shifting away from risk-based portfolio construction to outcome-based planning across multiple dimensions (such as investments, banking, health, protection, taxes, and estate). In addition, client expectations are rising rapidly for things like virtual engagement, seamless app experience, omnichannel support, and instant payments at a pace set by industries outside of financial services. These changing trends are expected to drive the market.
Wealth Management Platform Market - Growth Rate by Region

Wealth Management Platform Industry Overview

The intensity of competitive rivalry is high, and the emergence of new software providers is growing globally. Multiple start-ups have emerged in the domain, particularly in emerging markets such as India, giving market incumbents considerable competition. The nature of the market studied makes it crucial for new market players to constantly keep track of the technological advancements and regulatory dynamics to maintain compliance while offering upgraded functionalities to end users.

  • February 2023 – The South Indian Bank (SIB) partnered with Geojit Financial Services to build a wealth management platform. SIB Wealth aims to assist the bank's high net worth (HNI) clients by investing their funds in the greatest financial instruments available in the market. Portfolio management services, alternative investment funds, systematic investment plans, mutual funds, bonds, real estate funds, and structured products are all available on the site.
  • February 2023 - Wells Fargo introduced a digital platform for consumers with wealth management accounts to assist its millions of wealth management customers in planning and track their finances. The LifeSync platform will be available on the Wells Fargo app for the US bank's 2.6 million wealth and investment management (WIM) clients at the end of March.
  • January 2023 - YieldX, a US-based fixed-income portfolio management technology provider, optimization services, and direct indexing tools for the wealth management sector, was acquired by FNZ, the global wealth management platform. These cutting-edge capabilities, which will be incorporated into FNZ's wealth platform, will allow customers to scan the worldwide universe of fixed-income opportunities and swiftly discover the outcomes that match their desired terms and yield depending on their risk profile.

Wealth Management Platform Market Leaders

  1. Avaloq Group AG

  2. Fidelity National Information Services, Inc. (FIS)

  3. Prometeia S.p.A

  4. Temenos Headquarters SA

  5. Backbase, Inc.

*Disclaimer: Major Players sorted in no particular order

Wealth Management Platform Market Concentration

Wealth Management Platform Market News

  • March 2023 - WealthTech GBST rebranded and released an improved SaaS Composer wealth management administration software version. In reference to its roots, the company has kept its name while developing a brand strategy and new visual identity based on the updated backronym.
  • July 2022 - FIS, a financial technology company, announced it had enhanced its wealth management solutions by expanding and enhancing its self-invested personal pension (SIPP) servicing in the United Kingdom.
  • April 2022 - HCL Technologies (HCL) expanded its global partnership with Avaloq, a provider of digital banking solutions, to develop a lifecycle management center for digital wealth management. This partnership will enable more financial institutions to leverage Avaloq's innovative technology.
  • March 2022 - SHUAA Capital PSC, the asset management and investment banking platform in the Middle East, completed a strategic investment in UAE-based fintech, Souqalmal. The acquisition will provide growth capital, allowing Souqalmal to execute an ambitious growth plan over the next 24 months.

Wealth Management Platform Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Impact of COVID-19 on the Smart Home Healthcare Industry


    1. 5.1 Market Drivers

      1. 5.1.1 Rising Need to Integrate Business Capabilities and Channels in the Wealth Management Process

      2. 5.1.2 Requirement of Customer-centric Business Priorities, such as Fully Digitized Client Onboarding

    2. 5.2 Market Restraints

      1. 5.2.1 Lack of Awareness Related to Wealth Management Platforms and Higher Dependency on Traditional Methods


    1. 6.1 Deployment Type

      1. 6.1.1 On-premise

      2. 6.1.2 Cloud

    2. 6.2 End-user Industry

      1. 6.2.1 Banks

      2. 6.2.2 Trading Firms

      3. 6.2.3 Brokerage Firms

      4. 6.2.4 Investment Management Firms

      5. 6.2.5 Other End-user Industries

    3. 6.3 Geography

      1. 6.3.1 North America

      2. 6.3.2 Europe

      3. 6.3.3 Asia-Pacific

      4. 6.3.4 Latin America

      5. 6.3.5 Middle East and Africa


    1. 7.1 Company Profiles

      1. 7.1.1 Avaloq Group AG

      2. 7.1.2 Fidelity National Information Services Inc. (FIS)

      3. 7.1.3 Temenos Headquarters SA

      4. 7.1.4 Prometeia SpA

      5. 7.1.5 Backbase Inc.

      6. 7.1.6 Tata Consultancy Services Limited

      7. 7.1.7 Fiserv Inc.

      8. 7.1.8 InvestCloud Inc.

      9. 7.1.9 EdgeVerve Systems Limited

      10. 7.1.10 CREALOGIX AG

      11. 7.1.11 Broadridge Financial Solutions Inc.

    2. *List Not Exhaustive


**Subject to Availability

Wealth Management Platform Industry Segmentation

A wealth management platform is an advisor platform that provides a client’s complete wealth overview, financial goal planning, and portfolio management capabilities. A wealth management platform is a platform for front-to-mid-level advisors. It offers a true 360° picture of the client's wealth. It has a complete warning system, RM, and network-level KPIs. It provides full MiFID II compliance, as well as risk profiling, appropriateness and target market checks, and an industry-leading ex-ante cost calculation engine.

The wealth management platform market is segmented by deployment type (on-premise and cloud), end-user industry (banks, trading firms, brokerage firms, and investment management firms), and geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Deployment Type
End-user Industry
Trading Firms
Brokerage Firms
Investment Management Firms
Other End-user Industries
North America
Latin America
Middle East and Africa

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Wealth Management Platform Market Research FAQs

The Wealth Management Platform Market size is expected to reach USD 4.66 billion in 2023 and grow at a CAGR of 14.04% to reach USD 8.99 billion by 2028.

In 2023, the Wealth Management Platform Market size is expected to reach USD 4.66 billion.

Avaloq Group AG, Fidelity National Information Services, Inc. (FIS), Prometeia S.p.A, Temenos Headquarters SA and Backbase, Inc. are the major companies operating in the Wealth Management Platform Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the North America accounts for the largest market share in the Wealth Management Platform Market.

Wealth Management Platform Industry Report

Statistics for the 2023 Wealth Management Platform market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Wealth Management Platform analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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