MENA Wealth Management Market Size (2024 - 2029)

MENA Wealth Management Market Analysis

The MENA Wealth Management Market size in terms of assets under management value is expected to grow from USD 1.25 trillion in 2024 to USD 1.78 trillion by 2029, at a CAGR of 7.49% during the forecast period (2024-2029).

The wealth management industry in the MENA region is growing and coming on the path of sustainability as clients are more likely to reevaluate and move their assets during major life events. In the Middle East & North Africa (MENA) region, most clients move their money when starting a new business or when buying a house, and more than half of clients reconsider their asset management when inheriting or receiving money.

Countries in the Levant and North Africa region were ahead of the GCC while establishing their financial markets. The AuM growth in the region is primarily attributed to an increase in Sovereign Wealth Funds (SWF) assets, mainly due to strong capital market performances. Many SWFs had high equity exposure in developing and emerging markets, faring well as the financial landscape regained a degree of pre-pandemic stability. Further, another main driver of AuM growth was retail investors.

MENA Wealth management market is projected to grow through the potential for sizeable progress within private markets, especially for firms that can successfully enter the retail market, systematically use data and analytics to enhance decision-making and integrate meaningful ESG metrics. During COVID-19, the Wealth management industry faced a drastic downfall in the MENA region as the whole globe faced a challenging situation. Now, the asset management industry is coming out of the crisis with notable changes. Although the operating environment continues to change, the growth recorded during the pandemic implies further development as countries like Saudi Arabia, UAE, Egypt, and other countries continue reemerging, with many opportunities.

MENA Wealth Management Industry Segmentation

Wealth management is a type of financial Advisory service. A wealth advisor often works with wealthy people to develop a personalized investment plan to assist them in managing their assets. Additionally, thorough financial counseling, tax advice, estate planning, and even legal support are typically included in wealth management. A complete background analysis of the MENA Wealth Management Market, including the assessment of the economy, market overview, market size estimation for critical segments and emerging trends in the market, market dynamics, and key company profiles, are covered in the report. The MENA Wealth Management Market is segmented by client type (HNWI, Retail/ Individuals, Mass Affluent, and others), by provider (Private Bankers, Fintech Advisors, Family Offices, and others), and by geography (Saudi Arabia, Algeria, Egypt, United Arab Emirates, and Other Countries).