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Wealth Management Business Models in 20 years

Published by: Datamonitor

Published: Jun. 14, 2006 - 30 Pages



Table of Contents



CHAPTER 1 INTRODUCTION

Overview




CHAPTER 2 EMERGING MARKETS WILL BE WEALTH MANAGEMENT HUBS

Introduction

The economic strength of emerging markets will come to rival those of the G7

By 2026 India will be the prime location for wealth managers


The amount of wealth, and of wealthy people, in India will grow faster than almost any other market

Indian economic development is creating a broad and competitive wealth management market

Wealth managers will only be able to maximize the potential of India if they are already well-positioned


China and the Middle East will also be key centers of wealth management


Growth in these markets in recent years has been far greater than that of established markets and appears set to continue

Open markets and further development will drive growth although lack of stability will hinder it




CHAPTER 3 INNOVATIVE CLIENT SEGMENTATION WILL DEVELOP

Introduction

Wealth managers are beginning to investigate innovative segmentation methods to manage the changing client profile

Over the next 20 years wealth managers will hone their segmentation methods


Wealth managers will develop segmentation as a service efficiency initiative

Segmentation models will apply holistic criteria to wealth management


The most important segments globally will be entrepreneurs and SME CEOs




CHAPTER 4 CLIENT OWNERSHIP WILL POLARIZE

Introduction

Financial advisers will become an important separate client segment for wealth managers

The organization of direct client ownership will also change


Availability and flexibility will become vital components of the business model

Internal restructuring will aim to integrate client services




CHAPTER 5 MASS AFFLUENT SERVICES WILL BECOME AN INTEGRAL PART OF WEALTH MANAGEMENT

Introduction

The rise of the mass affluent represents an opportunity for wealth managers in the medium term

Wealth managers will capture the higher value mass affluent market by offering a scaled down wealth management service


The mass affluent proposition will run along the lines of the current wealth management service




CHAPTER 6 LIABILITY MANAGEMENT WILL BECOME A KEY SERVICE AREA

Introduction

Liability management is currently not part of the wealth management agenda but has proven potential


Clients in developed markets are seeking more holistic wealth management services

Liability management is clearly a profitable area with a proven existing client base


The incorporation of lending into wealth management will shift the focus of the servce


Specialist forms of lending will also become common additions to the offerings of many wealth managers

Some will fail due to a persistence of the “asset focused” service model and a lack of commitment




CHAPTER 7 CONCLUSION

The wealth management business model of the future




APPENDIX

Further Reading


Global Wealth Management SPP

Datamonitor Asia Pacific Wealth Management SPP

Savings and Investments SPP

Life and Pensions SPP

Financial Advice Market SPP


SPP writing team

Abstract

Introduction

Will include the impact of: business/ entrepreneurial activity as the key source of new wealth creation; the rise of large economies such India and China in the global wealth stakes; and the widespread achievement of "affluence" in many economies. The crux of the report will be to draw out strategic implications for wealth managers and understand the winning business models of the future.

Scope
  • Assesses key emerging markets' potential such as China and India
  • Predicts key product and service developments such as lending and client ownership
Highlights

India will become a highly important market for wealth management because wealth managers both domestic and international are able to establish the beginnings of a market with few obstacles, relative to the other emerging markets. Where there are regulatory restrictions, these are less problematic than those in China or the Middle East.

It is highly likely that over the next 20 years, wealth management will witness significant developments in the way that clients are segmented. Following from this, client service will change to complement the shift in emphasis, as factors other than the level of the client's wealth are taken into consideration.

Datamonitor research indicates that there are significant benefits in the area of liability management for the wealthy, and that the importance of liability management as part of wealth management will inevitably grow over the next 20 years, until it becomes a key service area.

Reasons to Purchase
  • Understand the long term trends within the wealth management industry
  • Identify areas for business development based on anticipated growth


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