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Industry Landscape
The wealth management industry is experiencing significant transformation, driven by technological innovation and evolving client expectations. Digital-first platforms and hybrid human-tech models are gaining traction, providing personalized and efficient services. The demand for fiduciary advisors and specialized planning (e.g., for corporate employees, tax optimization) continues to grow. Competition is intense from both traditional firms and agile FinTech players.
Total Assets Under Management (AUM)
Assets Under Management (AUM) in Wealth Management in United States
~$32.3 trillion (2022)
(8-10% CAGR)
- Driven by market performance and new client acquisition.
- Reflects increasing demand for financial planning services.
- Influenced by demographic shifts (e.g., retiring baby boomers).
Total Addressable Market
32.3 trillion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Personalization
Utilizing artificial intelligence to deliver hyper-personalized financial advice, investment recommendations, and service experiences tailored to individual client needs and behaviors.
Blockchain for Asset Tokenization
Leveraging blockchain technology to tokenize illiquid assets (e.g., real estate, private equity), enabling fractional ownership, increased liquidity, and simplified transfer in wealth management.
Advanced Data Analytics
Employing sophisticated data analysis techniques to derive deeper insights from client financial data, market trends, and behavioral patterns to optimize portfolio performance and predict client needs.
Impactful Policy Frameworks
SEC Marketing Rule (2020)
The SEC's new Marketing Rule (effective 2020, compliance 2022) modernizes rules governing investment adviser advertisements and cash solicitations, integrating them into a single rule.
This rule allows Savvy to use testimonials, endorsements, and past specific investment advice in its marketing, provided they meet certain disclosure and oversight conditions, potentially boosting client acquisition and advisor recruitment.
SEC Proposed Rule on Outsourcing by Investment Advisers (2022)
The SEC proposed a rule in 2022 requiring registered investment advisers to oversee third-party service providers more diligently, focusing on due diligence, monitoring, and record-keeping.
This proposed rule would increase compliance burdens and due diligence requirements for Savvy regarding its technology vendors and other outsourced services, ensuring data security and service quality for clients.
Cybersecurity Risk Management for Investment Advisers (Ongoing)
While not a single new rule, the SEC continues to emphasize and enforce existing regulations requiring investment advisers to have robust cybersecurity risk management programs, with increased scrutiny in recent years.
Savvy must continuously invest in and enhance its cybersecurity infrastructure and protocols to protect sensitive client data on its digital platform, mitigating risks of breaches and regulatory penalties.
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