The wealth management industry in the United States

The wealth management industry has experienced significant growth in terms of assets invested by retail investors in recent years, emphasized Envestnet.

According to the Federal Reserve (Fed), the financial assets of U.S. households totaled approximately $114 trillion as of September 30, 2021, which represents a considerable opportunity for wealth management.

Furthermore, according to Boston Consulting Group’s Global Wealth Report 2021, total net wealth in North America is expected to grow 4.4% annually between 2020 and 2025 to exceed $165 trillion.

Data from a third source, Cerulli Associates, indicates that investable assets made up 53% of total U.S. household financial assets in 2020, advisor-directed assets will total $25.7 trillion in 2020, and advisors will have discretion over 58% of managed account assets as of September 30, 2021.

Wealth management

Envestnet believes that over the next 5-10 years the wealth management industry will continue to consolidate with fewer firms and fewer advisors managing more assets, making scale and operational efficiency increasingly important.

This will require firms to integrate technology into all areas of their business.

Envestnet has been a leader in helping to transform wealth management, working toward its goal of expanding a holistic financial wellness ecosystem so that its clients can deliver an intelligent financial life to their clients («Intelligent Financial Life»).

More than 108,000 advisors and more than 6,000 firms, including 18 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, more than 500 of the largest registered investment advisors (RIAs) and hundreds of FinTech firms, leverage Envestnet’s technology and services that help drive better outcomes for firms, advisors and their clients.

Through a combination of platform enhancements, partnerships and acquisitions, Envestnet uniquely provides a financial network that connects technology, solutions and data, delivering better intelligence and enabling its clients to achieve better outcomes.

Envestnet serves its clients from its headquarters in Chicago, Illinois, as well as from other locations in the United States, India and other international locations.


Redacción Opportimes