Wealth Management in Australia 2007

Published by: Datamonitor

Published: Aug. 16, 2007 - 37 Pages

Table of Contents

Overview

Catalyst

Summary

Executive Summary

Table of Contents

Table of figures

Table of tables

Market overview

Australia's economy has weathered the storm better than many

GDP growth has been robust

Inflation has been controlled

Interest rates are low but have been increasing

The stock market boomed

As a result, onshore retail liquid assets in Australia have increased

The majority of Australian savings were held in deposits, but assets shifted into higher-risk investments

Retail mutual fund investments were popular

Direct equity investment grew fast

The retail bond market was relatively small

A large, but decreasing proportion of savings were held in superannuation

Non-liquid products and services varied in popularity

Household share ownership fell in recent years

Australian superannuation has developed over the years

The Australian property market has slowed

Margin lending has emerged recently

Wealthy clients in Australia grew strongly after 2 years of stagnation

Introduction

There were almost 1.9 million wealthy individuals in Australia in 2006

Wealthy Australian residents currently hold USD550bn in onshore liquid assets

Australians will feel the effects of a global market downturn, but the market will recover by 2011

The number of wealthy Australians will increase to 2.6 million by 2011, after faltering somewhat in 2008-9

A predicted UK downturn

A predicted US downturn

General

Onshore liquid assets will reach USD781 billion by 2011

Data

Competitive Dynamics

Australian wealth management is catered to by strong local banks and foreign banks

The large domestic banks all have wealth management offerings

Half of other local banks offer wealth management services

The foreign banks tend to offer wealth management services through offshore centers rather than locally

Wealth Management profiles

ANZ Private Bank

NAB Private Bank

St George Private Bank

Macquarie Private Bank

Goldman Sachs JBWere Private Wealth Management

UBS Wealth Management

APPENDIX

Definitions

CAGR

HNW

Liquid assets

Retail

Mass affluent

Mass market

Methodology

Global wealth Model

The UK sub model

Global sub model (for all other countries)

Forecasting methodology

Continuous refinement to the understanding of liquid wealth distribution

Datamonitor's wealth numbers compared with other wealth numbers

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

List of Tables

Table 1: Australia's macro-economic factors, 2002- 2006

Table 2: Australian onshore retail liquid asset balances in AUD, 2002- 2006

Table 3: Australian onshore retail liquid asset balances in USD, 2002- 2006

Table 4: Indexed market capitalizations of global stock exchanges, 1996 - 2005

Table 5: Total assets of Australian superannuation funds, 2005-2006

Table 6: Price Index of Established Homes in Australian Capital Cities, 2002 - 2007

Table 7: Number of wealthy individuals segmented by liquid asset band, 2002-6

Table 8: Aggregate onshore liquid assets segmented held by wealthy individuals, by liquid asset band, 2002-6

Table 9: Number of wealthy individuals segmented by liquid asset band, 2007-11

Table 10: Aggregate onshore liquid assets segmented held by wealthy individuals, by liquid asset band, 2007-11

Table 11: The local banks' wealth services

Table 12: Other local banks' wealth services

Table 13: Selected foreign wealth brands, 2007

List of Figures

Figure 1: The Australian economy grew strongly, 2002-2006

Figure 2: The market capitalization of the Australian Securities Exchange has been increasing

Figure 3: Australian onshore liquid retail assets, 2002- 2006

Figure 4: Market capitalizations of global stock exchanges, 1996 - 2005

Figure 5: Price Index of Established Homes in Australian Capital Cities, 2002 - 2007

Figure 6: After stagnating in 2004, Australia's wealthy population is growing again

Figure 7: Aggregate onshore liquid assets of wealthy Australians grew by 12.3% compounded annually from 2002

Figure 8: There will be more than 2.6 million wealthy individuals living in Australia by 2011

Figure 9: Aggregate onshore liquid assets of wealthy Australians will approach USD800bn by 2011

Abstract

• Presents data from Datamonitor's Global Wealth model on the number of wealthy individuals and their aggregate onshore liquid assets from 2002-11
• Segments the wealth data across 14 liquid asset bands starting at USD60k through USD10m+
• Includes retail S&I data from 2002-6 across 5 liquid asset classes including deposits, mutual funds, equities, bonds and superannuation funds
• Highlights the main wealth managers in the market, including both local and foreign players; presents short profiles of some of the main players

• Assess market attractiveness by reviewing size and growth forecasts for the potential wealthy client base through 2011
• Use the detailed liquid asset customer segmentation to analyze your key customer groups
• Assess the threats and opportunities for wealth managers and ascertain who the key competitors are within the industry

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