Home > Back to Publisher > Report Information

Customer Acquisition and Retention in European Wealth Management 2006

Datamonitor
November 30, 2006
33 Pages - SKU: DFMN1399254

Abstract Table of Contents Search inside this report Related Reports

Countries covered: Europe

Introduction

Customer acquisition and retention in European wealth management 2006 is Datamonitor's key report providing an overview of best practice across Europe, while providing data relating to the five major European markets.

Scope

Datamonitor's proprietary Wealth Management Market Leaders Survey 2006 analyzes the opinions of wealth managers across Europe.
Provides unique insight into how wealth managers assess customer acquisition, client relationships and customer behavior.
Wealth managers across Belgium, Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden, and Switzerland were surveyed.

Highlights

When asked which factors will most determine revenue growth in their wealth management market in the next two years, 67% of the wealth managers surveyed by Datamonitor identified obtaining new clients. Increasing business with existing customers and improving investment performance ranked joint second and were each named by 41% of respondents.

Given that a high amount of trust is necessary towards the wealth manager, the personal relationship is currently seen to play a particularly important role in a client’s decision making. 75% of wealth managers identified the personal relationship as key influence on clients.

29% of wealth managers surveyed strongly agreed that clients are more likely to change their wealth manager today than 2 years ago. Another 30% agrees to some extent. This means that 59% of wealth managers consider customer loyalty to be an issue for their business.

Reasons to Purchase

Provides insight into the relationship between clients and their wealth manager;
Identifies which acquisition methods are most effective across Europe;
Analyzes what makes clients choose their wealth manager, and what makes them leave.

CHAPTER 1 CUSTOMER ACQUISITION AND RETENTION: The significance of customer acquisition in wealth management is undisputed; Strategic initiatives are centred on customer acquisition and retention; The transition from old money to new money is clearly visible; Investment performance is seen as secondary for customer acquisition, but key to customer retention; Referrals from existing clients have unmatched weight in customer acquistion
CHAPTER 2 CUSTOMER BEHAVIOR AND CLIENT RELATIONSHIP: Client relationships are only moderately strong; Clients are demanding more contact, more information, but have not become more active themselves; Client behavior is still marked by the recent stock market corrections; Supplementary data; Methodology; Further Reading; SPP writing team
LIST OF TABLES: Table 1: Question: “What will most determine revenue growth in the next two years? Choose up to 3 responses.”; Table 2: Question: “What strategic initiatives are you planning or implementing in the next year? Choose all that apply.”; Table 3: Question: “What client types offer the greatest potential in the next five years? Choose up to 3 responses.”; Table 4: Question: “In your experience, what are the most effective customer acquisition techniques? Choose up to 3 responses.”; Table 5: Question: “In your experience, what are the key influences that determine a client’s choice of wealth manager?”; Table 6: Question: “To what extent do you agree with the following?”; Table 7: Question: “How long has your client base, on average, been with you?”; Table 8: Question: “Approximately what share of your clients' wallet do you think you have on average?”; Table 9: Question: “To what extent do you agree with the following?”; Table 10: Question: “What are your clients most interested in today? Choose up to 3 responses.”
LIST OF FIGURES: Figure 1: Obtaining new clients will be the single most important factor determining revenue growth in the next two years; Figure 2: Strategic initiatives will centre on customer acquisition and retention; Figure 3: New money will continue to be the focus for customer acquisition in the next 5 years; Figure 4: Swiss wealth managers see the greatest potential in inheritors and wealthy expatriates; Figure 5: Most responses as to the most likely reasons for a client to leave a service are for too many errors and small mistakes; Figure 6: 59% of wealth managers think customer loyalty has decreased; Figure 7: The majority of wealth managers control less than 50% of a client’s wealth; Figure 8: Wealth managers strongly feel that clients are demanding more contact now than 2 years ago; Figure 9: Clients are becoming more active as to how their wealth is being managed

More Europe Financial Services Reports

Cerulli Edge - Europe Edition Topic: Institutional (2Q 2012) by Cerulli Associates
We are pleased to present the second quarter 2012 issue of The Cerulli Edge—Europe Edition. In this Institutional Issue, Cerulli dedicates articles to the following ...

Personal Accident and Health Insurance in the UK, Trends and Opportunities to 2016 by Timetric
Synopsis The report provides in depth market analysis, information and insights into the UK personal accident and health insurance market, including: The UK personal accident ...

Store Cards in the Netherlands by Euromonitor International
The store card, which has never been a popular concept in the Netherlands, is in fast decline. Dutch consumers have more faith in the forms ...

Pre-Paid Cards in the Netherlands by Euromonitor International
Pre-paid cards recorded dynamic growth in volume and value transactions in 2011. It should be noted that the sales base was low at the start ...

Debit Cards in the Netherlands by Euromonitor International
The proprietary Dutch PIN brand is to disappear at the end of 2011, with EMV chip-based technology replacing the magnetic strip. The roll-out for the ...

See all reports like this >>

More Europe Reports

A Comprehensive Study Of The UK Video Conferencing Equipment Market In 2010, Rating & Valuing Each Of The 30 Companies That Operate In Today's Market by Plimsoll Publishing Ltd.
The Plimsoll Analysis provides you with the most up to date and comprehensive analysis of the top 9 companies operating the market. It is ...

A Comprehensive Study Of The UK Tableware Market In 2010, Rating & Valuing Each Of The 166 Companies That Operate In Today's Market by Plimsoll Publishing Ltd.
The Plimsoll Analysis provides you with the most up to date and comprehensive analysis of the top 9 companies operating the market. It is ...

A Comprehensive Study Of The UK Surveyors & Valuers Market In 2010, Rating & Valuing Each Of The 943 Companies That Operate In Today's Market by Plimsoll Publishing Ltd.
The Plimsoll Analysis provides you with the most up to date and comprehensive analysis of the top 9 companies operating the market. It is ...

A Comprehensive Study Of The UK Subsea Engineering Market In 2010, Rating & Valuing Each Of The 142 Companies That Operate In Today's Market by Plimsoll Publishing Ltd.
The Plimsoll Analysis provides you with the most up to date and comprehensive analysis of the top 9 companies operating the market. It is ...

A Comprehensive Study Of The UK Structural Engineering Consultancy Market In 2010, Rating & Valuing Each Of The 300 Companies That Operate In Today's Market by Plimsoll Publishing Ltd.
The Plimsoll Analysis provides you with the most up to date and comprehensive analysis of the top 9 companies operating the market. It is ...

See all reports like this >>

Customer Acquisition and Retention in European Wealth Management 2006

Share this report

Other tasks

Research Assistance

Related Markets

Financial Services Reports

Free Alert Me service