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Ultra high net worth customers in the UKPublished by: Datamonitor Published: Aug. 6, 2002 - 31 Pages Table of ContentsOverview Introduction This unique report sizes the UK ultra high net worth (UHNW) market (i.e. clients with more than GBP5m) and segments it by source and size of wealth (segmented into 9 liquid asset bands). We present the results of our in-depth interviews with private banks that serve this market, concentrating on the critical strategies necessary to find, acquire and keep this lucrative client base. Scope Analyses the ultra high net worth market in terms of liquid assets, age and source of wealth (split into industries). Highlights the most interesting aspects of the UHNW wealth management market based on interviews with leading private banks. Report Highlights The ultra high net worth market has more than doubled in the last five years. At the same time a new ultra high net worth customer has emerged. They are more likely to have earned their money, to be actively involved with their bankers, to expect quick results. Reasons to Purchase Gives detailed information about the most valuable clients in the banking arena. Draws implications from this in terms of marketing, client acquisition and distribution strategies. Looks at the ultra high net worth wealth management competitors, what they are offering and where they achieve competitive advantages. Draws conclusion about what wealth managers need to offer UHNWs and what the provider of the future will look like. Report Highlights At the same time as a new customer has been emerging a new private bank has been developing to service them. The new private bank needs to be able to deal with the cross-over between the client's private and corporate interests. It needs to offer a wide range of complex alternative investments. It needs to use technology to understand its client's complex financial positions and maximize returns from them. The average age of UHNWs is between 50 and 60. 70% of ultra-high net worths have earned rather than inherited their money. Property, computers and construction are the most common sources of wealth for UHNW earners. ULTRA HIGH NET WORTH CUSTOMERS Market size Market growth Earners versus Inheritors Source of wealth Age MODERN ULTRA HIGH NET WORTH BANKING Competition The changing nature of the high net worth client The changing demands in ultra high net worth banking Target customers - thresholds Customer acquisition Creating a client portfolio Client management structures Products Additional services Technology The effect of the market downturn on ultra high net worth customers The future for ultra high net worth banking METHODOLOGY FURTHER READING Datamonitor Reports Datamonitor Global Wealth Service Briefs Datamonitor Global Wealth Service Profiles SPP WRITING TEAM AbstractIntroduction: This unique report sizes the UK ultra high net worth (UHNW) market (i.e. clients with more than GBP5m) and segments it by source and size of wealth (segmented into 9 liquid asset bands). We present the results of our in-depth interviews with private banks that serve this market, concentrating on the critical strategies necessary to find, acquire and keep this lucrative client base. Scope of this Report: * Analyses the ultra high net worth market in terms of liquid assets, age and source of wealth (split into industries). * Highlights the most interesting aspects of the UHNW wealth management market based on interviews with leading private banks. Report Highlights: The ultra high net worth market has more than doubled in the last five years. At the same time a new ultra high net worth customer has emerged. They are more likely to have earned their money, to be actively involved with their bankers, to expect quick results. At the same time as a new customer has been emerging a new private bank has been developing to service them. The new private bank needs to be able to deal with the cross-over between the client's private and corporate interests. It needs to offer a wide range of complex alternative investments. It needs to use technology to understand its client's complex financial positions and maximize returns from them. The average age of UHNWs is between 50 and 60. 70% of ultra-high net worths have earned rather than inherited their money. Property, computers and construction are the most common sources of wealth for UHNW earners. Key Reasons to Buy this Report: * Gives detailed information about the most valuable clients in the banking arena. * Draws implications from this in terms of marketing, client acquisition and distribution strategies. * Looks at the ultra high net worth wealth management competitors, what they are offering and where they achieve competitive advantages. * Draws conclusion about what wealth managers need to offer UHNWs and what the provider of the future will look like.Get Full Details About This Report >> |
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