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Targeting ethnic investorsPublished by: Datamonitor Published: Jun. 1, 2004 - 37 Pages Table of ContentsTABLE 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 AbstractIntroductionExamines 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 Get Full Details About This Report >> |
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