Vietnam leads the way in wealth management services for the rich

According to the “Global Wealth Report 2026” recently released by Boston Consulting Group (BCG), Vietnam has a growth rate of financial assets of the rich of over 9% per year, among the highest in the top 20 emerging markets.

However, the financial asset market in Vietnam is still at a low level. A limited portfolio of investment products, few providers and a service model largely based on retail banking rather than specialized wealth management.

BCG cited an example: a logistics director in Ho Chi Minh City owns assets of about half a million USD, or even more. But this person’s financial assets are mainly in bank deposits, with very low returns and almost no significant investment.

Therefore, the gap between the growth rate of financial assets and the response capacity of the domestic service ecosystem is opening up great opportunities for Vietnam, according to the report.

According to BCG, the group of people owning from 250,000 USD to 5 million USD in emerging markets such as Malaysia and Vietnam is growing rapidly. Knight Frank’s Prosperity Report last year also said that Vietnam accounts for 0.2% of the total number of individuals with net assets of over 10 million USD globally by 2024, with 5,459 people, ranking 6th in Southeast Asia.

However, services for groups with assets from 250,000 to 5 million USD are left open. People in this group have higher investment needs than savings, especially in the context of falling interest rates, but are not eligible to use the services of international financial funds. Meanwhile, domestic products and services have not kept up with demand.

BCG’s calculations show that emerging markets will add about 12,000 billion USD and contribute 10% of global asset growth to 2030. This growth driver comes from increased domestic savings rates, high economic growth, and the expansion of the middle class and the wealthy.

In particular, the group owning over 250,000 USD in financial assets is forecast to grow on average 8% per year, adding about one million millionaires by 2030.