Targeting Entrepreneurs in Wealth Management 2008: Western Europe and Asia-Pacific

Published by: Datamonitor

Published: May. 23, 2008 - 22 Pages

Table of Contents

Overview

Catalyst

Summary

Methodology

Executive summary

Entrepreneurs offer substantial potential for wealth managers who take time to understand their evolving needs and deliver service above and beyond investment advice

Business owners and entrepreneurs represent a core business segment for wealth managers

Entrepreneurs demand convenience and integrated services

Table of Contents

Table of figures

Table of tables

Market context

Business owners and entrepreneurs represent a core business segment for wealth managers

Business owners and entrepreneurs offer strong revenue potential both today and over the next five years

There were nearlymillion entrepreneurs across Europe in 2007

Norway, Greece and Ireland will see the fastest-growing entrepreneur populations to 2012

Norway's entrepreneurial population will grow by 8.3% compounded annually to 2012

Ireland has the highest rate of early stage entrepreneurial activity in Western Europe

The conflicting motivations of Greece's population mean moderate growth of entrepreneurs

Italy and Portugal will see small declines in their entrepreneur populations

The Asia Pacific entrepreneur market is particularly attractive

Wealth Management service response: Private banks are creating dedicated units to serve this lucrative segment

The demands of business owners and entrepreneurs

Entrepreneurs demand convenience and integrated services

Business owners' risk appetite may be overstated; business risk appetite does not equate to investment risk appetite

Wealth Management service response: Providers need to devote time to gaining their clients' trust before recommending investment strategies

Entrepreneurs are time-poor

Wealth Management service response: Investment advice is being complemented by convenience services

Clients in the regions expect service closer to home

Wealth Management service response: Private banks are moving closer to important regional business hubs

Entrepreneurs in both regions want frequent communication

European entrepreneurs want more active control of their investments than APAC entrepreneurs

Both European and APAC entrepreneurs require online functionality

Wealth Management service response: Providing dedicated communication channels and improving online functionality and access to portfolio information will allow entrepreneurs to make the most of their time

Entrepreneurs and business owners expect their investment banking needs to be addressed

Entrepreneurs are extremely receptive to innovative products and exhibit strong demand for some institutional products in particular

Wealth Management service response: Wealth managers are addressing clients' demand for more sophisticated investment structures and financing solutions through closely integrated investment banking and private banking operations

Wealth Management service response: The entrepreneurial customer group also offers wealth managers the chance to seamlessly integrate wealth management and business banking

Entrepreneurs in both Europe and Asia have a high demand for estate planning services

Wealth Management service response: Wealth managers can add value and deepen relationships by enhancing succession planning services

Increasing legal complexity drives the high demand among entrepreneurs for tax planning services

Wealth Management service response: Providers are meeting the demand for tax advice through specialist services and educational events

Entrepreneurs' demonstrate high demand for offshore and overseas investments

Wealth Management service response: Wealth managers are providing a broad range of international services

Appendix

Data

Methodology

Bibliography

Further reading

Ask the analyst

Datamonitor consulting

Disclaimer

List of Tables

Table 1: Number of self-employed individuals between 15 and 74 years old with employment status of 'employers' by European country, 2003-7

Table 2: Forecast number of self-employed individuals between 15 and 74 years old with employment status of 'employers' by European country, 2012

Table 3: Please rate the business owners/entrepreneurs client segment on its potential for revenues

Table 4: Around what proportion of your high net worth client base accumulated their wealth through the following sources?

Table 5: Please rate the business owners/entrepreneurs client segment on its attractiveness as an area to focus on.

Table 6: Please indicate if there is a lot of demand for value-added services from business owners / entrepreneurs.

Table 7: How would you rate business owners / entrepreneurs on their demand for frequent communication/interaction with their wealth manager, on average?

Table 8: How would you rate business owners and entrepreneurs on their desire to take an active role in their own portfolio management/investment decisions, on average?

Table 9: How would you rate business owners / entrepreneurs on their demand for online functionality from their wealth manager, on average?

Table 10: How would you rate each of the following segments on their demand for lending products, on average?

Table 11: How would you rate business owners / entrepreneurs on their receptiveness to innovative products, on average?

Table 12: For which of the following products is there 'a lot of demand' from business owners and entrepreneurs?

Table 13: How would you rate business owners / entrepreneurs on their demand for estate planning/trust services, on average?

Table 14: How would you rate business owners / entrepreneurs on their demand for tax advice, on average?

Table 15: How would you rate business owners / entrepreneurs on their demand for strong international services such as offshore investments or overseas property investment/management, etc, on average?

List of Figures

Figure 1: Please rate the business owners/entrepreneurs client segment on its potential for revenues

Figure 2: Which client types will offer the greatest potential in your country in the next five years?

Figure 3: Germany accounted for more than a fifth of all entrepreneurs in Western Europe in 2007

Figure 4: Number of entrepreneurs, 2007 and 2012

Figure 5: Around what proportion of your high net worth client base accumulated their wealth through the following sources?

Figure 6: Please rate the business owners/entrepreneurs client segment on its attractiveness as an area to focus on.

Figure 7: Please indicate if there is a lot of demand for value-added services from business owners / entrepreneurs.

Figure 8: How would you rate business owners / entrepreneurs on their demand for frequent communication/interaction with their wealth manager, on average?

Figure 9: How would you rate business owners and entrepreneurs on their desire to take an active role in their own portfolio management/investment decisions, on average?

Figure 10: How would you rate business owners / entrepreneurs on their demand for online functionality from their wealth manager, on average?

Figure 11: How would you rate each of the following segments on their demand for lending products, on average?

Figure 12: How would you rate business owners / entrepreneurs on their receptiveness to innovative products, on average?

Figure 13: For which of the following products is there 'a lot of demand' from business owners and entrepreneurs?

Figure 14: How would you rate business owners / entrepreneurs on their demand for estate planning/trust services, on average?

Figure 15: How would you rate business owners / entrepreneurs on their demand for tax advice, on average?

Figure 16: How would you rate business owners / entrepreneurs on their demand for strong international services such as offshore investments or overseas property investment/management, etc, on average?

Abstract

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