The Key Players and SWOT Analysis of Wealth Management Industry
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Wealth management, the art and science of growing and preserving wealth, has evolved into a sophisticated industry. As the global economy continues to expand, so too does the demand for expert financial guidance. The global wealth management market is experiencing substantial growth, fueled by increasing high-net-worth individuals (HNWIs) and the complexity of modern financial landscapes. The market size was valued at $1.30 trillion in 2022 and is expected to reach $3.48 trillion by the end of 2030 with a CAGR of nearly 11% between 2023 and 2030. Key Players in the Wealth Management Market Several global financial institutions dominate the wealth management market : BlackRock (Estimated market share 15-20%): A global leader in investment management with a significant presence in wealth management. Vanguard (Estimated market share 10-15%): Known for its index funds and low-cost investment approach, Vanguard also offers wealth management services. Bank of America (Estimated m...