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Targeting ethnic investors

Datamonitor
June 1, 2004
37 Pages - SKU: DFMN1002333

Abstract Table of Contents Search inside this report Related Reports

Countries covered: United States

Introduction
Examines the market for targeting ethnic populations within countries (inpatriates or local populations such as Indians, Muslims, Latinos, African Americans, Chinese, etc.). Looks at the methods used by wealth managers to target them including partnerships, services and specific products. Examines untapped client bases around the globe and suggest which might be most lucrative for wealth managers.

Scope
Analyzes the reasons behind targeting ethnic niches
Analyzes case studies of wealth managers targeting ethnic niches around the globe
Identifies untapped ethnic niches around the globe and provides supporting figures
Lists the caveats for wealth managers targeting ethnic niches
Highlights
As the value of wealth management businesses decreased towards the end of 2003, large wealth managers bought smaller competitors and small competitors merged in order to remain competitive. In the process of this consolidation, competitors gained access to new customer bases and thus new assets.

In this new, positive market, wealth managers are looking to increase revenues and the competition for new customers will become more and more intense. Consequently, the value of wealth management businesses is on the increase and the opportunity to buy up new customers is diminishing, making it ever more important to target new customer bases.

With certain ethnic groups there is a permanent need for segmentation. By their very nature, many ethnic groups have specific needs, which are very different from the rest of the population within the country.

Reasons to Purchase
Strategy managers - find out what sectors to target in 2004
Marketing managers - find out what works best when targeting ethnic investors
Find out the key lessons learned and benefit from the mistakes of others, discover which strategies best fit your business model

TABLE OF CONTENTS
INTRODUCTION 6
The search for new customers 6
Investor sectors 6
Why target ethic investors? 8
Need for differentiated services 8
COMPETITIVE CASE STUDIES 11
Wealth Manager Case study 1: Merrill Lynch 11
Wealth Manager Case study 2: Barclays 12
Wealth Manager Case study 3: EFG 14
Wealth Manager Case study 4: Lloyds TSB 15
Wealth Manager Case study 5: HSBC 17
Wealth Manager Case study 6: ING 17
Wealth Manager Case Study 7: BNP Paribas 18
IMPLICATIONS FOR WEALTH MANAGERS 20
Opportunities and over-serviced niches 20
Muslims 20
Asians 21
Western expatriates 25
Israelis 26
Caveats for wealth managers 28
DATA 30
APPENDIX 32
Definitions 32
Ethnic 32
Expatriates 32
High net worth (HNW) 32
Liquid assets 32
Mass affluent 33
Research methodology 33
Further reading 33
Datamonitor Global Wealth Service SPP: Reports 33
Datamonitor Global Wealth Service SPP: Insight Reports 33
Datamonitor Global Wealth Service SPP: Competitor Tracking 34
Datamonitor Savings & Investments SPP Reports 34
Datamonitor Financial Services Consulting 35
Datamonitor’s Global Wealth Model 36
SPP writing team 37

LIST OF TABLES
Table 1: US income by ethnic origin, 2001 30
Table 2: US adult ethnic populations, 2001 30
Table 3: Indian and Japanese expatriates in the UK, the US, Singapore and Australia, by wealth, 2002 31
Table 4: Mass affluent and high net worth expatriates by country of residence, 2002 31
Table 5: Wealth markets that have been modeled using the Global Wealth Model 36

LIST OF FIGURES
Figure 1: There is a high tendency for Asians living in the UK to be self-employed 22
Figure 2: Asia and Pacific Islanders is the US ethnic group with the highest average income 23
Figure 3: There were a significant number of high net worth and mass affluent expatriate individuals in the UK, Singapore and Australia, 2002 24
Figure 4: There were a significant number of mass affluent and high net worth expatriate investors in Asia and the Middle East in 2002 26

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