The number of retail investors grew substantially over the course of the pandemic, with the number of emerging affluent investors rising to 18.2% in 2021 alone. Meanwhile, mass affluent investors increased by more than 8% year on year. The larger investor pool has spurred a renewed interest in serving the investment needs of consumers with modest portfolios. Several fintechs and established wealth managers have rolled out new products, service models, and technology to economically address the investment needs of this growing investor class.

The Innovation in Retail Wealth Management report provides a roundup of innovations within the global retail wealth management market, including subscription models, personalization, and offshore investments.

Key Highlights

  • 2022 global GDP growth has been revised from 4.4% to 3.5%. Revisions of a similar magnitude preceded the 2008 and 2020 recessions.
  • The subscription model truly arrived in wealth when Charles Schwab adopted it for Intelligent Portfolios Premium – the company’s hybrid robo-advice offering.
  • The beginnings of widespread customization of client portfolios were mainstreamed by the deployment of services from major online brokers such as TD Ameritrade.
  • Many digital investment services targeting new or low-value retail investors use the subscription model to monetize small-scale investment accounts.
  • More automated portfolio construction with new technologies such as direct indexing and fractional share ownership will bring hyper-customized portfolios to clients with ever-smaller portfolios.
  • Even retail investors have become increasingly interested in ESG. Wealth managers will need to react with suitable tools and products, which will also help them reach out to the growing number of Generation Z investors.
  • Recent innovations with regards to subscription-style business models for wealth management have focused on higher-value clients such as mass affluent and HNW individuals not eligible for private banking.

For more insights on the retail wealth management market, download a free report sample

Who are the key players in the retail wealth management market?

The key players in the retail wealth management market are Birchal, Raiz, Saxo Markets, Charles Schwab, Citibank, Masterworks, Moomoo, Purpose ESG, Standard Chartered, and TD Ameritrade.

To know more about the key players in the retail wealth management market, download a free report sample

Market Report Scope

Key players Birchal, Raiz, Saxo Markets, Charles Schwab, Citibank, Masterworks, Moomoo, Purpose ESG, Standard Chartered, TD Ameritrade

Reasons to Buy

  • Understand the key technology, business models, and channel trends being used to reach out to retail investors.
  • Access the latest consumer survey data on evolving channel behavior, provider preferences, and product holdings.
  • Access firm-level/case study insights on leading players within retail wealth management.

Key Players

Saxo Markets
Charles Schwab
Purpose ESG
Standard Chartered
TD Ameritrade

Table of Contents

Table of Contents

Market Overview

Subscription Models

ESG Investing


Retail Alternatives

Offshore Investments


Frequently Asked Questions

The key players in the retail wealth management market are Birchal, Raiz, Saxo Markets, Charles Schwab, Citibank, Masterworks, Moomoo, Purpose ESG, Standard Chartered, and TD Ameritrade.

The key regions in the retail wealth management industry are Asia-Pacific, Eastern Europe, Latin America, Middle East and Africa, North America, and Western Europe.

The key types of retail investor assets are mass affluent investors, emerging affluent investors, and mass market investors.

The key markets for ESG investment in the retail wealth management industry are Canada, the US, the UK, Netherlands, Germany, France, New Zealand, Australia, India, China, Hong Kong, Singapore, Middle East and Africa, Europe, Asia-Pacific, and Americas.


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