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Wealthtech Boom: Top Wealthtech Companies to Watch in 2024

David Grinberg
Director of FinTech at TechMagic. Ex-VP of Goldman Sachs. Blockchain and Web3 expert. Experienced engineering manager and CTO.
Wealthtech Boom: Top Wealthtech Companies to Watch in 2024

Wealthtech, a union of wealth management and technology, is a technology-driven approach to managing wealth. It has recently gained traction due to its ability to make the traditionally manual and labour-intensive wealth management process more efficient.

The wealth management sector is already utilising the potential of advanced analytics thanks to the significant advancements in artificial intelligence and machine learning. It provides more investment alternatives and useful and fact-based recommendations for managing customers' wealth holdings.

In this blog post, we discussed the wealthtech ecosystem and market, features and services and its market leaders. Let's get started!

What is Wealthtech?

Wealth management is an investment advisory service offered by financial advisers to their wealthy clients to improve or solve their financial condition. These include asset structuring and planning, family governance, estate planning, wealth protection, tax, and succession planning. The main objective of advisers is to help their clients increase, protect, and preserve their wealth and speed up wealth management procedures.

Wealthtech solutions are designed to address various financial challenges. They provide users with tools that enable them to

  • make smarter decisions regarding investing, budgeting, and managing their wealth
  • track their investments
  • keep tabs on their budgets
  • analyse their financial performance
  • maximise their wealth while minimising its risks

Wealthtech definition also automates wealth management's more tedious or complex aspects. This can range from automating portfolio rebalancing to providing AI-driven financial advice. Wealthtech solutions are designed to reduce the manual effort wealth managers require and enable them to focus on providing more value-added services. Wealth management software development offers features such as analytics and real-time notifications that allow users to remain up-to-date on the latest market news and developments.

Wealthtech Ecosystem and Market State

The market for wealthtech solutions, valued at $4.8 billion in 2021, is expected to increase at a CAGR of 14.8% from 2022 to 2031 to reach $18.6 billion. Trends, including the increasing prevalence of digital banking and the rising demand for personalized financial services, drive the segment.

The wealthtech ecosystem offers various benefits to consumers and asset managers, with automation and data management making personal investing easier and more efficient than ever.

Who consists of the wealthtech technology?

  • providers bring their experience in the financial sector expertise while being highly knowledgeable on technological advancement
  • advisors can advise on appropriate tech solutions depending on the customer’s needs
  • custodians manage the client’s assets, such as accounts, portfolios, insurance policies
  • financial institutions work hard at developing solutions that increase security and trust in the services offered by wealthtech companies.

This indicates the market's growth and maturation and the increasing demand for financial advice and guidance. As more people become aware of the importance of financial planning, they are turning to wealthtech solutions to help them make informed decisions and manage their finances more effectively.

WealthTech and FinTech are related because they both focus on providing technology-driven solutions for managing money and financial assets. The main difference between the two segments is that WealthTech solutions typically focus on managing wealthier individuals' assets and investments. In contrast, FinTech software development services are more broadly concentrated on providing services for consumers and business customers.

In recent years, WealthTech solutions have become more sophisticated, offering users various features and services such as

  • portfolio management tools
  • automated investment strategies
  • financial advice
  • risk management tools
  • tax optimisation algorithms
  • and more

FinTech solutions, on the other hand, typically focus on providing services such as

  • mobile payments
  • peer-to-peer lending
  • digital banking products
  • budgeting tools
  • and more

The rise of WealthTech and FinTech also significantly impacts the traditional banking sector. Banks increasingly turn to technology-driven solutions to improve their services and stay competitive. This leads to a more customer-centric approach to banking, with banks offering more personalised services and products tailored to the needs of their customers.

What Features Should Wealthtech Apps Have?

Wealthtech solutions should provide users with a comprehensive suite of features that enable them to track their investments, monitor their financial performance, automate certain aspects of their wealth management process, receive personalized financial advice, and meet their financial goals. These may include:

  • Investment management: Automated investment portfolios, customized investment plans, and real-time market data
  • Financial planning: Tools for budgeting, saving, and planning for the future
  • Tax optimization: Tax-loss harvesting, tax-efficient investing, and tax planning strategies
  • Retirement planning: Retirement savings calculators, investment strategies, and Social Security planning
  • Portfolio tracking: Real-time updates on portfolio performance, risk analysis, and market trends
  • Customer support: 24/7 customer support, including financial advisors, to help users make informed decisions
  • Security: Bank-grade security measures to protect users' financial information and investments
  • Ease of use: User-friendly interfaces, accessible on multiple devices, and simple account setup and management processes.
  • Reporting and analytics: Customizable financial reports and performance tracking to help users stay on top of their finances.

In addition to the features mentioned above, WealthTech apps should provide users access to various financial products and services. It includes access to stocks, bonds, mutual funds, ETFs, and other investment vehicles.

Let’s discover each of these features below.

Automated Solutions

Employing WealthTech solutions allows businesses and banks to comprehend the needs of the next generation of clients, including those for portfolio development, tech-enabled financial solutions, and automatic rebalancing. WealthTech solutions also assist businesses in identifying the needs of the next generation of clients, such as those for technologically enhanced financial solutions, automatic rebalancing, and portfolio creation.

The promise of cutting-edge technologies like AI, machine learning, and blockchain development services has also been fully realized by creative WealthTech solution providers, who have created various automation solutions for incumbents to improve their operations and boost revenue.

FinTech Development

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Portfolio Management

WealthTech provides solutions to help investors achieve their financial goals and diversify their portfolios based on risk and return profiles. They offer a range of fixed-income assets as a consistent source of income, wealth preservation, and protection against inflation and market volatility. Wealthtechs firms help with reliable financial advice during turbulent times and protect investors from being swayed by market changes and aggressive selling of questionable products.

Investment Management

Investment management is a key component of wealthtech services, providing individuals and businesses with expert guidance on investment strategies and asset allocation. With advanced algorithms and data analysis, wealthtech platforms can help investors make informed decisions and optimize their portfolios.

Financial Planning

Financial planning is a critical aspect of wealth management, and wealthtech services offer a range of tools and resources to help individuals achieve their financial goals. From retirement planning to budgeting and saving, wealthtech platforms provide a comprehensive view of an individual's finances, allowing for informed decision-making.

Tax Optimization

Wealthtech services also offer tax optimization tools, helping individuals minimize their tax liability and maximize their returns. With advanced algorithms and tax planning strategies, wealthtech platforms help investors reduce their tax burden and keep more of their hard-earned money.

Retirement Planning

Retirement planning is a critical aspect of financial planning, and wealthtech services offer a range of tools and resources to help individuals prepare for their golden years. From estimating future expenses to creating a retirement savings plan, wealthtech platforms provide a comprehensive view of an individual's retirement prospects.

Portfolio Tracking

Wealthtech services also offer portfolio tracking, helping individuals monitor their investments and portfolio performance. With real-time market data and performance metrics, wealthtech platforms provide investors with a comprehensive view of their investments and help them make informed decisions.

Customer Support

Customer support is a critical component of wealthtech services, providing individuals and businesses with the help and support they need to manage their finances effectively. From live chat support to email support, wealthtech platforms offer a range of resources to help customers with any questions or concerns.

Wealth management services can also utilize Big Data analytics, AI, and machine learning to make the most of data. As younger generations are willing to share their data for a personalized experience, as they are used to having services tailored to their needs, wealthtech companies can significantly benefit from it.

Use of wealthtech by generation

Reporting and Analytics

Finally, wealthtech services also offer reporting and analytics, providing individuals and businesses with real-time insights into their finances. From investment performance to budgeting and spending, wealthtech platforms provide a comprehensive view of an individual's financial situation, helping them achieve their financial goals.

Wealthtech Market Leaders

Top WealthTech Companies

The wealthtech industry is growing rapidly, with many companies vying for market share. Some of the leading companies in the wealthtech industry include:


Betterment is a robo-advisor that offers personalized investment management services to help users reach their financial goals. It uses technology to provide users with low-cost, tax-efficient portfolios and provides financial planning and advice to help users make informed decisions. Betterment also offers a range of educational resources to help users understand investment concepts and make informed decisions.


Wealthfront is a robo-advisor that provides users with personalized investment portfolios. It offers a range of financial planning tools and investment advice to help users achieve their financial goals, including tax-loss harvesting, direct indexing, and access to portfolio insights. Wealthfront also supplies educational resources and financial planning tools to help users make informed decisions.


Robinhood is a commission-free brokerage that offers users a simple and convenient way to invest in stocks, options, and cryptocurrencies. It has a user-friendly interface that offers real-time market data to help users make informed decisions. Robinhood has become popular with younger investors looking for a simple and accessible way to invest their money.


Stash is an investment app that makes it easy for users to invest small amounts of money. It offers a range of investment options, including stocks, ETFs, and cryptocurrencies, and provides educational resources to help users make informed decisions. Users can use various financial planning tools, including budgeting and saving advice.

Personal Capital

Personal Capital is a financial planning and investment management platform that provides users with a comprehensive view of their finances. It offers a range of tools and services, including investment management, retirement planning, and wealth tracking, to help users make informed decisions and achieve their financial goals. Personal Capital provides financial advice and educational resources to help users understand their finances and make informed decisions.

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Acorns is an investment app that uses technology to help users grow their wealth by rounding up their purchases and investing the spare change. It offers a range of investment options, including ETFs, and provides educational resources to help users understand investment concepts and make informed decisions. Acorns also offer a range of financial planning tools, including budgeting and saving advice, to help users achieve their financial goals.


The DFS omnichannel orchestration platform from Additiv is an intelligent wealth management system. Wealth managers can enable better engagement at a larger scale in their search for the finest Software-as-a-Service. Through a Banking-as-a-Service paradigm, it enables financial institutions to get access to new distribution channels. It also helps banking and non-banking service providers integrate wealth services into their offerings.


With its AI-based digital investing solutions, Belgian B2B WealthTech firm InvestSuite hopes to speed up the transformation of financial institutions' physical assets into digital ones. By addressing their fast-changing digital needs and defending their market positions against nimble B2C FinTech challengers, Investsuite is a European FinTech startup that helps financial institutions keep their clients.

Scalable Capital

Leading European FinTech Scalable Capital connects people with technology-based investing, digital wealth management services, and a broker with a flat trading rate. The business, which has offices in Munich, Berlin, and London, was launched in 2014. The company builds and oversees internationally diversified ETF portfolios for its clients using sustainable investment strategies in digital wealth management.

Create a Wealthtech Application with TechMagic

The wealthtech industry is growing rapidly, and with the help of a reliable and experienced partner, you can create a state-of-the-art wealthtech application to meet your client's needs. TechMagic is a fintech software development company that provides comprehensive development services for the wealthtech industry. With a team of experienced developers, designers, and project managers, TechMagic can help you create a customized wealthtech application tailored to your specific needs and requirements.

Interested to learn more about TechMagic?

Contact us


Wealthtech is an increasingly popular solution for individuals and businesses looking to manage their wealth better. It provides users with a suite of features that enable them to make smarter investment decisions while minimising risk. Wealthtech solutions can help users track their investments, keep tabs on their budgets, analyse their financial performance, automate certain aspects of their wealth management process, receive personalised financial advice, and more.

As wealthtech grows as a part of complete financial services offering, it embeds itself into investors' daily life without noticeable disruption. Corporations are showing in a new era of international finance by concentrating on conserving and enhancing wealth. Businesses can offer customers with a seamless client experience that adds significant value, ranging from portfolio monitoring, asset allocation, and onboarding to customised insights and investment suggestions.


  1. What is wealthtech?

    Wealthtech is a dynamic new technology revolutionising how people manage their money and wealth. Wealthtech combines financial services, artificial intelligence, big data, machine learning, user experience and other innovative technologies to create a modern framework for wealth management and enables clients to make informed financial decisions by providing real-time access to personalised financial information and analytics.

  2. How does wealthtech works?

    By leveraging technology, they provide users with innovative tools to save, invest, and manage their money. Powered by data-driven algorithms, wealthtech platforms create highly personalised opportunities for users to access financial advice, investment strategies, tailored portfolios, budgeting insights and much more.

  3. Who are the leading companies in the wealthtech industry?

    Some leading companies in the wealthtech industry include Betterment, Wealthfront, Robinhood, Stash, Personal Capital, and Acorns. These companies have established themselves as market leaders by offering innovative solutions, comprehensive services, and user-friendly experiences to help users manage their finances and reach their goals.

  4. What services should wealthtech apps have?

    Wealthtech apps should offer various services to help users manage and improve their financial well-being. These may include investment management, financial planning, tax optimisation, retirement planning, portfolio tracking, customer support, reporting and analytics, and more.

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Ross Kurhanskyi
Head of partner engagement