Wealth Management Software Market In-Depth Analysis and Forecast report By 2030

Henry Paul

Wealth Management Software Market Growth & Trends


The global wealth management software market size is expected to reach USD 12.07 billion by 2030, growing at a CAGR of 13.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the increasing demand for wealth management software from financial advisors to effectively understand the needs of their clients and streamline the financial management of their clients accordingly. The widening scope of wealth management software to cover everything from accounting and investment management to estate planning and retirement planning bodes well for the growth of the market. Advances in technology and the growing adoption of the latest technologies for wealth management are expected to intensify the competition between traditional and non-traditional firms.


U.S. wealth management software market size, by advisory mode, 2020 - 2030 (USD Million)


Wealth Management Software Market Segmentation


Grand View Research has segmented the global wealth management software market on the basis of advisory mode, deployment, enterprise size, application, end-use, and region:


Based on the Advisory Mode Insights, the market is segmented into Human Advisory, Robo Advisory, Hybrid.

  • The human advisory mode segment dominated the market in 2022 and accounted for the largest share of 57.0% of the global revenue. Human advisory remains the first preference for several HNWIs across the globe owing to security concerns. Moreover, human advisory services also help in strengthening relationships with the clients and conveying and communicating wealth management strategies and plans to them more efficiently. However, the trends are changing gradually and clients have started preferring the hybrid advisory model over the human advisory model.
  • The robo advisory segment is anticipated to register the fastest CAGR over the forecast period. Robo advisors tend to be highly accurate, efficient, and more accessible as compared to other modes. Hence, the robo advisory platform is gradually emerging as a cost-effective alternative for several retail investors owing to the various benefits it can offer, such as ease of use, low-cost fee structure, and low to zero account minimums. Various factors, such as the intensifying competition, evolving client requirements, and rapidly changing market dynamics, are also expected to create new growth opportunities for the robo advisory segment.


Based on the Deployment Insights, the market is segmented into Cloud and On-premise.

  • The cloud segment dominated the market in 2022 and accounted for the maximum share of more than 56.0% of the global revenue. The segment is estimated to expand further at the fastest CAGR retaining the leading position throughout the forecast period. Several businesses across the globe are preferring cloud-based solutions owing to various benefits they can offer, such as scalability, agility, and easy access to data, among others. The cost-effectiveness and scalability offered by the cloud platform are allowing companies to develop innovative wealth management platforms more efficiently.
  • Financial advisory firms across the globe are also focusing on adopting cloud-based solutions as part of their efforts to reduce operational costs. The on-premise segment is anticipated to witness significant growth over the forecast period. Several organizations still prefer on-premise deployment of solutions to ensure a higher level of control over all the systems and data. The on-premise deployment model also allows organizations to have more control over the implementation of software. While on-premise solutions ensure that business data is stored and handled internally, it also necessitates businesses to appoint dedicated, in-house IT staff for support and maintenance purposes.


Based on the Enterprise Size Insights, the market is segmented into Large Enterprises and Small & Medium Enterprises.

  • The large enterprises segment dominated the market in 2022 and accounted for the highest revenue share of more than 57.0%. On the basis of enterprise size, the global market has been bifurcated into large enterprises and Small & Medium Enterprises (SMEs). Large enterprises across the globe are focusing on implementing new technical functionalities, and storage and processing technologies. Moreover, computing resources are getting more reliable, cheaper, and widely deployable. Hence, large-scale firms are trying to exploit all the opportunities that are critical to ensure success and growth in the long term.
  • Large enterprises are also focusi[ng on adopting cloud-based wealth management solutions to help in managing the digital assets, accounting operations, and funds of their clients. The Small & Medium Enterprises(SMEs) segment is anticipated to register the fastest growth rate over the forecast period. The growing demand for wealth monitoring software by SMEs to effectively meet the regulatory requirements and to condense the asset monitoring costs is anticipated to drive the growth of the segment. The growing number of small & medium enterprises in emerging economies is also driving the demand for wealth management solutions.


Based on the Application Insights, the market is segmented into Financial Advice & Management, Portfolio, Accounting, & Trading Management, Performance Management, Risk & Compliance Management, Reporting, Others.

  • The portfolio, accounting, & trading management segment dominated the market in 2022 and accounted for a revenue share of more than 23.0%. At a time when the demand for portfolio management and trading solutions is increasing; portfolio, accounting, & trading management solutions are allowing trading managers to concentrate on collaborative activities and serve their customers in a better manner. Portfolio, accounting, & trading managers are under severe pressure to effectively handle the data of their existing customers and are hence adopting wealth management solutions aggressively.
  • The financial advice & management segment is anticipated to register the fastest CAGR over the forecast period. Several businesses across the globe are focusing on accelerating digitization, increasing operational efficiency, and strengthening client relationships, which is expected to propel the adoption of financial advice & management solutions across various end-use industries.


Based on the End-use Insights, the market is segmented into Banks, Investment Management Firms, Trading & Exchange Firms, Brokerage Firms, Others.

  • The banks segment dominated the market in 2022 and accounted for a revenue share of more than 28.0%. As the global economy continues to strengthen gradually, banks are anticipated to play a key role in managing the growing assets and wealth of individuals. Moreover, banks are also leveraging wealth management software to ensure a client-centric approach. Numerous wealth management software providers are focusing on providing end-to-end wealth management and processing solutions to cater to the evolving needs of banks, drive efficiency throughout banks’ business, and help banks in operating seamlessly in global markets.
  • The trading & exchange firms segment is anticipated to register the fastest CAGR over the forecast period. The evolving technological capabilities of wealth management solutions are expected to open new opportunities for the adoption of wealth management software for trading & exchange purposes. Trading & exchange firms are increasingly using wealth management solutions to effectively manage the assets of their clients. Furthermore, the growing digitalization across trading firms is efficiently allowing clients to access their trading accounts and effectively understand the progress of their financial portfolio, thereby creating new growth opportunities for the segment.


Wealth Management Software Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa


Market Share Insights

  • August 2021: Objectway S.p.A. announced the acquisition of Die Software Peter Fitzon GmbH (DSW), a provider of core banking solutions in Germany. OBJECTWAY S.p.A. expects the acquisition to strengthen its wealth and asset management offerings with a comprehensive and solid core banking platform.


Key Companies Profile & Market Share Insights


The market is moderately fragmented. Prominent players are pursuing numerous strategies, such as strategic joint ventures & partnerships, product innovation, geographical expansion, mergers & acquisitions, and research & development initiatives, to cement their foothold in the market.


Some of the prominent players operating in the global wealth management software market include,


  • Comarch SA
  • Dorsum Ltd.
  • Fidelity National Information Services, Inc.
  • Finantix
  • Fiserv, Inc.
  • Objectway S.p.A.
  • Profile Software
  • SEI Investments Company
  • SS&C Technologies Holdings, Inc.
  • Temenos Headquarters SA


Order a free sample PDF of the Wealth Management Software Market Intelligence Study, published by Grand View Research.

Henry Paul
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