Growing trust: The growing number of wealthy households will boost industry assets

Trusts and Estates industry revenue, composed primarily of capital gains on trusted assets, exhibited volatile growth over the five years to 2018. In addition to the performance of the underlying assets, the actual number of trusts and estates plays a crucial role in revenue change. The number of trusts is influenced by household wealth and the age of the population, as well as domestic savings rates and the number of bankruptcies. As the population ages and estate planning becomes more relevant, demand for instruments that secure assets after death grows. Over the next five years to 2023, the aging population and growing number of wealthy households are anticipated to increase industry assets, while strengthening financial markets are projected to increase returns on those assets...purchase to read more.

Industry Statistics & Market Size
Revenue
$173bn
Annual Growth 13-18
-0.1%
Forecast Growth 18-23
Profit
Employment
25,410
Businesses
3.2m
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • The aging population and growing number of wealthy households are anticipated to increase industry assets
  • Growing stock market values throughout the period have helped bolster investment income from equities
  • Rising medical costs have the potential to dampen industry growth
  • Industry Report - Industry Products Chapter

    There are a variety of different trusts and estates in this industry, including complex trusts, simple trusts, grantor trusts and decedent's estates. In addition to these primary entities, the industry is also composed of: qualified disability trusts; Chapter 7 bankruptcy estates; split-interest trusts; qualified funeral trusts; Chapter 11 bankruptcy estates; and pooled income funds. Simple and complex trusts Simple trusts are required to distribute all income generated by the trust, while maintaining the corpus, or principal assets, of the trust. Additionally, the trust is not permitted to make charitable contributions. These entities account for 22.0% of trust revenue. In ...purchase to read more.

    Additional Insights for the Trusts & Estates Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Trusts & Estates Industry are

  • Managing external contracts (outsourcing) efficiently
  • Knowing your assets and estates
  • Objectively assess new investment projects
  • IBISWorld analysts also discuss how external factors such as S&P 500 and House price index in the Trusts & Estates industry impact industry performance..

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    What's in this report

    What is the Trusts & Estates Industry?

    This industry includes personal trusts, estates and agency accounts that are managed on behalf of beneficiaries under terms of a trust agreement, will or agency agreement. Industry revenue is defined as the income generated by the assets in the entity. This may be in the form of interest, dividends and other investment income. Income may be held by the entity or distributed to beneficiaries. Fees for estate planning or drafting wills are not included in this industry’s revenue.

    Industry Products
  • Complex trusts
  • Simple trusts
  • Grantor trusts
  • Decedent's estates
  • Other trusts
  • Industry Activities
  • Managing bankruptcy estates
  • Managing private estates on behalf of beneficiaries
  • Acting as fiduciary for personal investment trusts
  • Overseeing management of personal trusts
  • Managing benefits of testamentary trusts
  • Acting as custodian for agency accounts
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • S&P 500
  • House price index
  • Business bankruptcies
  • Households earning more than $100,000
  • Median age of population

  • Current Performance
  • Underlying assets and market forces
  • Taxes, bankruptcies and the elderly
  • Chart: Revenue Growth

  • Industry Outlook
  • Demographic shifts
  • Potential limits
  • Profit
  • Table: Trusts & Estates Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Trusts & Estates Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Accounting Services
  • Custody, Asset & Securities Services
  • Financial Planning & Advice
  • Open-End Investment Funds
  • Tax Preparation Services

  • Products & Services
  • Complex trusts
  • Simple trusts
  • Decedent's estates
  • Other trusts
  • Grantor trusts
  • Chart: Trusts & Estates Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Complex Trusts
  • Simple Trusts
  • Decedent's estate
  • Other
  • Grantor trusts
  • Chart: Major Market Segmentation for the Trusts & Estates Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    Wages and fiduciary fees Profit
  • Chart: Cost Structure Benchmarking – Sector vs Trusts & Estates

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Trusts & Estates Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Trusts & Estates Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Trusts & Estates Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Households earning more than $100,000 (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Agency Account
  • An account established as a courtesy to individuals or organizations and is normally established to receive funds for specific purposes.
  • Asset Protection
  • Any form of trust that provides for funds to be held on a discretionary basis; they attempt to avoid the affects of tax, divorce and bankruptcy on the beneficiary.
  • Estate
  • A plan of supervision and arrangement of property before or after death.
  • Fiduciary
  • Individuals, corporations or associations that may be given the legal authority to make decisions regarding financial matters.
  • Offshore Trust
  • A trust made in a jurisdiction different from where the trustee is domiciled.
  • Probate
  • The legal process in which a court oversees the distribution of property left in a will.
  • Trust
  • A legal arrangement in which an individual gives fiduciary control of property to a person or institution for the benefit of beneficiaries.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Trusts & Estates can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Trusts & Estates:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Trusts & Estates market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Trusts & Estates, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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