Tulip: Promoting Financial Services to the Wealthy in 2007- UK

Published by: Mintel International Group Ltd.

Published: Jul. 1, 2007 - 53 Pages

Table of Contents

1. Introduction

Figure 1: The distribution of liquid financial assets within the wealthiest 5% of individuals in the UK

Figure 2: The Distribution of liquid financial asset wealth within the Ultra HNWs and the super rich

Figure 3: Asset allocations within the HNW/Ultra HNW wealth market

2. Executive Summary

The UK wealth market

Financial advertising expenditure

Wealth products marketing expenditure

The financial industry’s choice of advertising media

The media usage of the HNWs & the Ultra HNWs

The qualities sought in banks and investment suppliers

3. The Wealth Market Demographics

Figure 4: The make-up of the HNW target market, by investment decision responsibility and gender

Figure 5: The make-up of the HNW target market, by region and age group

Figure 6: The occupational make-up of the HNW target market

4. Financial Advertising Expenditure and the Wealth Market

Figure 7: Financial advertising expenditure, 2003 v 2007

Figure 8: Financial advertising expenditure, 2003 v 2007

Figure 9: Asset management advertising expenditure, 2003 v 2007

Figure 10: Financial advertising expenditure, 2003 v 2007

5. The Financial Industry’s Choice of Advertising Media

Figure 11: Financial advertising media usage, 2007

Figure 12: Financial advertising: media usage in 2007

Figure 13: Financial advertising: media usage in 2007

6. The Media Preferences of HNWs and Ultra HNWs

Television

Figure 14: HNW/ ultra HNW TV viewing hours 2003 v 2007

Figure 15: Weekly TV viewing hours by liquid wealth

Figure 16: TV channel viewing preferences

Newspapers

Figure 17: Newspaper readership, 2003 v 2007

Figure 18: Newspaper readership by liquid wealth

Specialist financial & investment magazines

Figure 19: Finance magazine readership

Figure 20: Finance magazine readership

Internet or web usage

Figure 21: Internet usage for banking or investment purposes

Figure 22: Internet usage for banking or investment purposes

Radio listening

Figure 23: Weekly radio listening hours 2003 v 2007

Figure 24: Weekly radio listening hours by liquid wealth

Figure 25: The two radio stations most listened to

Direct mail

Figure 26: The financial direct mail

The perceived value of media financial information and advice

Figure 27: The value of the media

7. The Financial Supplier Qualities Sought by HNWs and Ultra HNWs

Figure 28: The distribution of liquid financial asset wealth within the wealthiest 1% of individuals in the UK

Figure 29: The most important qualities for financial suppliers

8. Bank Usage, Advertising Awareness and Quality Ratings

Figure 30: Investment product suppliers

Figure 31: Usage of professional advisers

Figure 32: the HNW and Ultra HNW approach to investment

Figure 33: Financial supplier ratings

Appendix One

The Tulip Wealth Model

Appendix Two

Technical note

Appendix Three

About Tulip Financial Research

Appendix Four

Data tables 1-17

Table 1: Q1: For this survey we need to interview a wide range of investors. Would you tell me which of these best describes the value of the total savings and investments held by you and your family? By this I mean things like savings accounts, private or public company shares, unit or investment trusts, bonds or other investments including property bought as an investment, but not your main home or a second home, is it

Table 2: Q2: Are you mainly or equally responsible for investment decisions made by your household? by Profile

Table 3: Q3: Which of these kinds of investment do you or your family currently own? by profile

Table 4: Q4: For which have you seen or heard any advertising or promotion in the past year or so? by profile

Table 5: Q5a: Where did you see advertising or promotion for

Table 6: Q7: How important is each of these attributes to you when choosing a financial service provider; say a bank or an investment manager? Is

Table 6: Q7: How important is each of these attributes to you when choosing a financial service provider; say a bank or an investment manager? Is

Table 7: Q9: How many hours of TV do you watch in an average week? by profile

Table 8: Q10B: And which comes second? by profile

Table 9: Q11: Which of these newspapers do you read regularly? by profile

Table 10: Q12 Which of these financial and business magazines do you look at regularly or from time to time? by profile

Table 10: Q12 Which of these financial and business magazines do you look at regularly or from time to time? by profile

Table 11: Q13A: How frequently do you access the Internet at home for financial, banking and investment information or other financial services: is it

Table 12: Q13B: How frequently do you access the Internet at work for financial, banking and investment information or other financial services: is it? by profile

Table 13: Q13: How frequently do you access the Internet at home/ work for financial information or other financial services: is it? by profile

Table 14: Q14: How many hours of radio do you listen to in an average week? by profile

Table 14: Q14: How many hours of radio do you listen to in an average week? by profile

Table 15: Q18: And do you open and glance at

Table 16: Q19: Which of these media do you find useful for financial and investment information or advice? Is that very useful or useful? by profile

Table 17: Q27: Would you tell me which of these income bands best matches your household's annual pre-tax income from work, pension, investments and any other financial resources that you have? by profile

Abstract

At the start of 2006 Tulip’s computer simulation model of private liquid wealth in the UK estimated that total liquid assets in private hands had risen to £1.624 trillion. Now, in mid-2007, this figure will be approaching £2 trillion, and a new revised estimate from the Tulip model will be available in October 2007. Liquid wealth has been growing fast, fuelled by buoyant stock markets, rising property prices and (until recently) low interest rates. This liquid wealth is very unequally distributed, with most liquid assets being held by a small minority of individuals within the UK. Just one per cent of individuals in the UK own well over 60% of the UK’s total liquid assets. Tulip Financial Research defines this top 1% - 470,000 adults living in 335,000 households - as the overall HNW and Ultra HNW market.

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