Spain Wealth Management – High Net Worth (HNW) Investors

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

Spain Wealth Management Report Overview

Female HNW investors remain underrepresented, but have a huge potential to grow in the Spanish wealth management market. Males account for more than 85% of the total HNW population in the country, which is slightly above average for Europe. Several programs have been established to educate and support women in establishing businesses to foster female participation in the field of entrepreneurship. For instance, in September 2022, the government launched The Break: a 10-week program for EU resident women that aids female entrepreneurs by offering mentorship, networking opportunities, and access to funding.

The Spain wealth management market report sizes the opportunity within Spain’s wealth market and analyzes the investment preferences, service requirements, and portfolio allocations of the country’s HNW investors.

Spain Wealth Management Market Dynamics

Spanish HNW individuals have made their fortunes predominantly through earned income. The entrepreneurial HNW market is notably smaller but growing rapidly. Despite the global economic downturn and volatile market conditions, the Spanish entrepreneurial segment has remained resilient.

To encourage business creation and expansion, in February 2021, the government launched the Spain: Entrepreneurial Nation Strategy, which includes 50 measures to support entrepreneurs. The strategy aims to boost investments, help retain and attract talent, increase the scalability of companies, and provide administrative and regulatory support for entrepreneurs. These measures include the introduction of the Startup Law and the creation of RENACE – a national network of entrepreneurship centers, incubators, and accelerators. Family-owned business is a small but growing source of wealth for the Spanish HNW population. Family businesses play a key role in the country’s economy.

For more additional Spain wealth management market dynamics, download a free sample report

Spain Wealth Management Market Investment Preferences

The key investment preferences in the Spain wealth management market are advisory asset management, automated investment services, discretionary asset management, and execution-only asset management. There is currently strong demand for most styles of asset management services. However, demand for advisory mandates is expected to remain stagnant. Furthermore, there will be a rise in demand for discretionary mandates which can be partly attributed to growing levels of trust, as wealth managers have navigated their clients through volatile market conditions following the outbreak of COVID-19.

Automated investment services will make further inroads into the HNW market. Factors such as changing client demographics and preferences as well as the rapid advancement of technology are driving the growth of digital investment platforms. In addition, rising confidence in managing their own investments is driving Spanish HNW individuals to opt for self-directed investments. A surge in the adoption of digital investment tools such as robo-advisors and online broking platforms have sparked the interest of digital-savvy HNW investors. Also, another reason for investors to engage in self-directed investing is because a significant portion of their wealth is locked in the form of property, collectibles, or other physical assets. Wealth managers need to educate investors about the range of financial products they can provide to offer better diversification.

To know more about the Spain wealth management market investment preferences, download a free sample report

Spain Wealth Management Market Segmentation by Industry

Some of the key industries in the Spain wealth management market are financial services, healthcare, construction & engineering, real estate, manufacturing, tech & telecommunications, transport & logistics, retail, fashion & luxury goods, FMCG, hotels, restaurants & leisure, media, diversified, government, basic materials, energy & utilities, and others. In 2022, the financial services sector emerged as the largest contributor to HNW wealth in Spain

Spain Wealth Management Market Analysis by Industry, 2022 (%)

Spain Wealth Management Market Analysis by Industry, 2022 (%)

For more insights on industries in the Spain wealth management market, download a free sample report

Spain Wealth Management Market - Reasons for Expatriation for HNW Investors

The drivers of expatriation to Spain are job transfer, better lifestyle conditions, better opportunities for expats’ children, business start-ups, tax efficiencies, and retirement among others. Business start-up is the most prominent driver for expatriation to Spain as the government is taking steps to develop the entrepreneurial ecosystem.

Spain Wealth Management Market By Reasons For Expatriation, 2022 (%)

Spain Wealth Management Market By Reasons For Expatriation, 2022 (%)

For more expatriation reason insights in the Spain wealth management market, download a free report sample

Spain Wealth Management Market – Asset Allocation Preferences

Onshore Asset Allocation: The major asset classes of onshore investment for HNW investors in the Spain wealth management market include equities, bonds, cash and near-cash, real estate, commodities, and alternatives. HNW investors in Spain allocate the largest proportion of their onshore wealth to equities, in line with regional trends. Inflation protection is the most important reason for equity investments among HNW investors in Spain, followed by capital appreciation and dividend income.

Offshore Asset Allocation: Alternatives constitute nearly a quarter of offshore holdings in Spain. This is a natural response to market volatility, as many alternatives are prized for their hedging or uncorrelated returns. Equities are the second most popular offshore asset class. Factors such as better returns, diversification opportunities, and tax efficiencies are some of the key drivers for offshore equity investments by HNW clients in Spain.

Spain Wealth Management Market By Asset Classes Of Onshore Investment, 2022 (%)

Spain Wealth Management Market By Asset Classes Of Onshore Investment, 2022 (%)

For more asset classes of onshore investment insights in Spain wealth management market, download a free report sample

Spain Wealth Management Market – Product and Services

Some of the key products and services in the Spain wealth management market are ESG investments, financial planning, inheritance planning, life insurance, lifestyle privileges, pensions and retirement planning, philanthropy, and tax planning among others.  Pensions and retirement planning is set to see the biggest increase in demand in the upcoming years mainly due to the aging composition of the country’s HNW population.

For more product and services information in the Spain wealth management market, download a free report sample


Spain Wealth Management Market Report Overview

Key Investment Preferences Advisory Asset Management, Automated Investment Services, Discretionary Asset Management, and Execution-Only Asset Management.
Key Reasons For Expatriation Job Transfer, Better Lifestyle Conditions, Better Opportunities for Expats’ Children, Business Start-Ups, and Retirement
Major Asset Classes Of Investment Equity, Cash and Near Cash, Bonds, Property, Alternatives, and Commodities
Key Products and Services ESG Investments, Financial Planning, Inheritance Planning, Life Insurance, Lifestyle Privileges, Pensions and Retirement Planning, Philanthropy, and Tax Planning

Spain Wealth Management Market Asset Classes Outlook (2022)

  • Equity
  • Cash and Near Cash
  • Bonds
  • Property
  • Alternatives
  • Commodities

Key Highlights

Key Highlights

  • Expats constitute 24.7% of the local HNW population. They represent an attractive target market thanks to their more complex service requirements.
  • Robo-advice currently accounts for 13.3% of the Spanish HNW portfolio.
  • Equities, property, and cash and near-cash investments dominate the Spanish HNW asset portfolio.

Reasons to Buy

  • Develop and enhance your client targeting strategies using our data on HNW profiles and sources of wealth.
  • Enhance your marketing strategies and capture new clients using insights from our data on HNW investors’ asset management style preferences.
  • Tailor your investment product portfolio to match current and future demand for different asset classes among HNW individuals.


Table of Contents



Investment Style Preferences

Asset Allocation Preferences

Offshore Investment Preferences

Products and Services


Frequently asked questions

Spain Wealth Management – High Net Worth (HNW) Investors thematic reports
Currency USD

Can be used by individual purchaser only


Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Spain Wealth Management – High Net Worth (HNW) Investors was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Spain Wealth Management – High Net Worth (HNW) Investors in real time.

  • Access a live Spain Wealth Management – High Net Worth (HNW) Investors dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.