United States (US) Wealth Management – Market Sizing and Opportunities to 2026

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US Wealth Management Market Overview

A high share of the US population belongs to the mass affluent and HNW segments. HNW individuals hold over 50% of liquid assets. The US investors show a strong preference for risk assets, particularly in higher wealth segments. Equities and cash and near-cash products are the two most popular asset classes in the US HNW portfolio. Furthermore, investors in the US are less likely to favor investment services from their main bank than many global markets.

The US wealth management market report analyzes the wealth and retail savings and investments markets in the country. It details the overall affluent market size (both by number of individuals and the value of their liquid assets) and provides analysis of the factors driving liquid asset growth across deposits, mutual funds, equities, and bonds.

Key Investor Types Mass Market, Emerging Affluent, Mass Affluent, and HNW
Key Asset Classes in the US HNW Portfolio Bonds, Alternative Investments, Cash and near Cash Products, Commodities, Equities, and Property
Key HNW Investment Style Preferences Robo-advisor, Advisory Mandates, Discretionary Mandates, Execution-only Mandates
Key US HNW Investment Drivers Higher Expected Returns from Offshore Wealth, Tax Efficiency, Client Anonymity, General Geographic Diversification, Business Interests, and Local Currency Volatility.
Key Digital Disruptors in the US Figure and Toggle AI
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United States (US) Wealth Management Market Segmentation by Investor Asset Allocation

The US investors across all wealth bands have a strong propensity to invest in risk assets. This is significantly greater than most comparable countries due to the size and depth of the US’s financial markets. Both mass affluent and emerging affluent investors prefer risk assets over deposits, with more than a third of mass market wealth also allocated this way. The key HNW asset allocations include bonds, alternative investments, cash and near cash products, commodities, equities, and property.

In 2022, equities emerged as the largest asset class in the US HNW portfolio due to the availability of a wider range of investments in the country, such as alternatives and real estate, as well as the country’s inflated markets with unappealing price-to-earnings ratios. Cash and near-cash is the second-largest asset class among HNW individuals.

US Wealth Management Market Analysis by Investor Asset Allocation, 2022 (%)

US Wealth Management Market Analysis by Investor Asset Allocation, 2022 (%)

For more insights on investor asset allocation in the US wealth management market, download a free sample report

United States (US) Wealth Management Market - Investment Preferences

The key investment preferences in the US wealth management market are robo-advisor, advisory mandates, discretionary mandates, execution-only mandates. US HNW individuals place nearly a quarter of their wealth with robo-advisors. Price competition from robo-advisors is significant in the HNW space, with many choosing to allocate a large portion of their portfolio to these services to reduce the overall cost of investing in simple securities.

United States (US) Wealth Management Market – Offshore Investing and Holding Drivers

The major reasons for offshore investments and offshore holding among the US investors are to gain higher expected returns from offshore wealth, business interests, access to better range of investments, tax efficiency, and general geographic diversification. In 2022, the main driver behind offshoring wealth is the pursuit of higher returns. The provision of strong overseas investment options will thus be vital to wealth managers looking to capture this market.

US Wealth Management Market Analysis by Offshore Investment Drivers, 2022 (%)

US Wealth Management Market Analysis by Offshore Investment Drivers, 2022 (%)

For more insights on the offshore investment drivers in the US wealth management market, download a free sample report

US Wealth Management Market – Digital Disruptors

Figure and Toggle AI both provide unique wealth management services to clients. With over 3,000+ accredited investors using the platform since its launch in 2020, Figure Marketplace enables users to access a variety of asset classes in a single digital location based on blockchain technology for transaction settlement. Toggle claims the company is “teaching ChatGPT how to invest.” The aim of this venture is to provide investment advice through an AI chatbot, including data-backed answers to financial questions.

To know more about the key digital disruptors in the US wealth management market, download a free sample report

US Wealth Management Market Asset Classes Outlook (2022)

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

Scope

  • 2023 has been unpredictable for investors, plagued by rate hikes, recessionary threats, and a banking crisis. Despite this, the S&P 500 gained over 6% for the year to May.
  • Mass affluent and emerging affluent investors have similar holdings profiles, with just a slight rise in the number holding equity and mutual funds in the mass affluent group.
  • Tax efficiency is the key driver for offshoring wealth among the emerging affluent, as cited by 25% of respondents.

Key Highlights

  • 2023 has been unpredictable for investors, plagued by rate hikes, recessionary threats, and a banking crisis. Despite this, the S&P 500 gained over 6% for the year to May.
  • Mass affluent and emerging affluent investors have similar holdings profiles, with just a slight rise in the number holding equity and mutual funds in the mass affluent group.
  • Tax efficiency is the key driver for offshoring wealth among the emerging affluent, as cited by 25% of respondents.

Reasons to Buy

  • Make strategic decisions using top-level historic and forecast data on the US wealth industry.
  • Identify the most promising client segment by analyzing the penetration of affluent individuals.
  • Receive detailed insights into retail liquid asset holdings in the US.
  • Understand the changing market and competitive dynamics by learning about new competitors and recent deals in the wealth space.
  • Discover key digital disruptors in the country’s wealth market.

Clayton
Dubilier & Rice LLC
Figure Technologies
Focus Financial Partners
LPL Financial Holdings
Microsoft
Stone Point

Table of Contents

The US Market

Investor Insight

Resident Savings and Investments

Deals

Digital Disruptors

Appendix

Frequently asked questions

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