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UK Wealth Management 2003Published by: Datamonitor Published: Oct. 9, 2002 - 113 Pages Table of ContentsOverview Introduction UK Wealth Management 2002 examines the UK onshore wealth management market from both a supply and a demand perspective. The 1997-2001 size the affluent market (GBP100k+) by number of individuals, aggregate wealth and source of wealth are provided and the number of ultra high net worths (GBP5m+) are segmented into 9 asset bands for 2001. Market shares for 100+ wealth managers are analyzed in three competitive segments: GBP1m+, GBP200k-1m and GBP50k-200k. 9 competitive profiles are presented. Reasons to Purchase Assess your competition using our UK 2001 market share data (for three markets: millionaires, high net worths and mass affluents) Find out how your competition has managed to capture its market share with our company profiles covering nine of the largest UK wealth managers. Discover how big your target market is with our UK HNW model data (including 7 liquid asset bands from GBP300k + between 1997-2001). Determine the size the lucrative ultra high net worth market (GBP5m+) for 2001, including source of wealth and age. Evaluate the year in terms of competition, products and services, distribution and alliances within your market. Scope Coverage: UK affluent market (GBP100,000+) and UK ultra high net worth market (GBP5m+) in-depth interviews with senior executives within the largest wealth management competitors in the UK, resulting in profiles for (see below): Report Highlights The number of high net worths in the UK fell slightly between 2000 and 2001. The lower asset bands were hardest hit by this fall, while ultra high net worths were least affected. In fact, an additional 1,000 people were added to the ranks of the super-rich in 2001. Wealth managers held 62% of millionaires’ liquid assets in 2001.The largest players were Barclays, HSBC Republic and Merrill Lynch Investment Managers. The implication of this dominance of wealth managers in the GBP1m+ market is that competitors seeking to acquire new clients will have to take them away from other wealth managers; there is very little money not already being managed. Wealth managers held 26% of the high net worth market in 2001. It is likely that in general a lower proportion of individuals with between GBP200k-1m use wealth managers to manage their portfolios for two reasons. First, a proportion of these investors may be completely or partly self-directed. Second, a large proportion of all retail savings and investments in the UK are held in deposits. Coutts, Lloyds TSB Private Banking and HSBC Investment Managers in this category. Scope Barclays Private Clients, HSBC, Merrill Lynch Invest. Mgrs, Coutts, Lloyds TSB Private Bank, SG Hambros, Gerrard, Brewin Dolphin, NatWest Private Bank CHAPTER 1 EXECUTIVE SUMMARY CHAPTER 2 INTRODUCTION What is this report about? Who is the target reader? How to use this report CHAPTER 3 MARKET CONTEXT The year in review: trends in wealth management 2001-2 Introduction Competitive environment Wealth management launches in the UK Withdrawals and retrenchment Products and services Alternative investments Exchange-traded funds One step forward … two steps back? A helping hand: 3rd party funds and alliances Downsizing: a reversal of fortune in wealth management The high net worth market by size of assets and number of individuals The sub-groups Ultra high net worth customers Market size Market growth Earners versus Inheritors Source of wealth Age Market data CHAPTER 4 COMPETITIVE DYNAMICS Competitor market shares Market share in the total GBP100k market Competition in the millionaires’ market (GBP1m+) Competition in the high net worth market (GBP200k-1m) Competition in the mass affluent market Company strategies to achieve market share Competitors in the millionaires’ market Barclays Private Clients: fluent in finance Market/segment coverage Product specialisms Client management structure Distribution and alliances Customer acquisition HSBC: the World’s Local Bank Market/segment coverage Product specialisms Client management structure Distribution and alliances Customer acquisition Merrill Lynch Investment Managers: the US powerhouse weighs in Market/segment coverage Product specialisms Client management structure Distribution and alliances Customer acquisition Competitors in the high net worth market Coutts: the forward-looking traditional private bank Market/segment coverage Product specialisms Client management structure Distribution and alliances Customer acquisition Lloyds TSB Private Banking: Create didn’t take Market/segment coverage Product specialisms Client management structure Distribution and alliances Customer acquisition SG Hambros: strong brand, strong backing Market/segment coverage Product specialisms Client management structure Distribution and alliances Customer acquisition Competitors in the mass affluent market Gerrard Group: evolving from stockbroker to wealth manager Market/segment coverage Product specialisms Client management structure Distribution and alliances Customer acquisition Brewin Dolphin: one to watch Market/segment coverage Product specialisms Client management structure Distribution and alliances Customer acquisition NatWest Private Banking: targeting the mass affluent for RBS Market/segment coverage Product specialisms Client management structure Distribution and alliances Customer acquisition Competitive data CHAPTER 5 APPENDIX Companies included in the market share analysis Companies excluded from the market share analysis Definitions Further Reading Datamonitor Reports Datamonitor Global Wealth Service Briefs Datamonitor Global Wealth Service Profiles Do you need further information? Datamonitor financial services consulting SPP writing team LIST OF TABLES Table 1: Number of wealthy individuals in the UK segmented by asset band, 000s, 1997-2001 Table 2: Liquid assets of UK high net worth individuals, GBPm, 1997-2001 Table 3: UK High net worths segmented by source of wealth, 1997-2001 Table 4: Number of ultra high net worths segmented by liquid asset band, 2000-2001 Table 5: Source of wealth for UK ultra high net worths segmented by liquid asset band, 2000 Table 6: UK Ultra high net worths by source of wealth, 2000 Table 7: Age of high net worth earners and inheritors, 2000 Table 8: Age profile of UK ultra high net worth individuals against general adult population, 2000 Table 9: Average age of UK ultra high net worths, 2000 Table 10: Competitor profile summary, millionaires’ competitors Table 11: Competitor profile summary, high net worth competitors Table 12: Competitor profile summary, mass affluent competitors Table 13: Market share of the top 10 companies competing in the UK GBP1m+ market, 2001 Table 14: Top 20 companies in the GBP1m+ market, minimum threshold versus average assets under management per client, 2001 Table 15: Market share of the top 10 companies competing in the UK GBP200k-1m market, 2001 Table 16: Top 20 companies in the GBP200k-1m market, minimum threshold versus average assets under management per client, 2001 Table 17: Market share of the top 10 companies competing in the UK GBP50k-200k market, 2001 Table 18: Top 20 companies in the GBP50k-200k market, minimum threshold versus average assets under management per client, 2001 Table 19: Companies included in the millionaires’ market shares Table 20: Companies included in the high net worths’ market shares Table 21: Companies included in the mass affluents’ market shares LIST OF FIGURES Figure 1: The number of high net worths fell slightly in 2001, 1997- 2001 Figure 2: Competitor market shares in the GBP1m+ market, 2001 Figure 3: The top 10 best-performing hedge funds have significantly outperformed equity indexes, June 30 1999 - June 30 2002 Figure 4: ETFs have performed poorly, August 2001 - August 2002 Figure 5: MLIM’s third party distributors in the UK, June 2002 Figure 6: The number of high net worths fell slightly in 2001, 1997- 2001 Figure 7: The largest share of high net worth wealth is owned by those with between GBP200k and GBP300k of liquid assets, 1997-2001 Figure 8: Inheritors remain the largest of the indentified sub-groups, 1997-2001 Figure 9: The majority of UK ultra high net worths hold between GBP5-20m in onshore liquid assets, 2001 Figure 10: The number of UK UHNW individuals more than doubled 1997-2001 Figure 11: Source of wealth of UK ultra high net worths, 2000 Figure 12: Getting on in life- the majority of the ultra high net worth market is middle-aged, 2000 Figure 13: The average UK UHNW individual is in their 50s, 2000 Figure 14: Age profile, earners versus inheritors, 2000 Figure 15: The top 50 UK wealth managers held less than 35% of the GBP100k market in 2001 Figure 16: Competitor market shares in the GBP1m+ market, 2001 Figure 17: Competitor market shares in the GBP200k-1m market, 2001 Figure 18: Competitor market shares in the GBP50k-200k market, 2001 Abstractntroduction: UK Wealth Management 2002 examines the UK onshore wealth management market from both a supply and a demand perspective. The 1997-2001 size of the affluent market (GBP100k+) is provided, split by number of individuals, aggregate wealth and source of wealth. The number of ultra high net worths (GBP5m+) is segmented into 9 asset bands for 2001. Market shares for 100+ wealth managers are analyzed in three competitive segments: GBP1m+, GBP200k-1m and GBP50k-200k. 9 competitive profiles are presented. Scope: * Coverage: UK affluent market (GBP100,000+) and UK ultra high net worth market (GBP5m+) * In-depth interviews with senior executives within the largest wealth management competitors in the UK, and profiles for: * Barclays Private Clients, HSBC, Merrill Lynch Invest. Mgrs, Coutts, Lloyds TSB Private Bank, SG Hambros, Gerrard, Brewin Dolphin, NatWest Private Bank. Report Highlights: The number of high net worths in the UK fell slightly between 2000 and 2001. The lower asset bands were hardest hit by this fall, while ultra high net worths were least affected. In fact, an additional 1,000 people were added to the ranks of the super-rich in 2001. Wealth managers held 62% of millionaires' liquid assets in 2001.The largest players were Barclays, HSBC Republic and Merrill Lynch Investment Managers. The implication of this dominance of wealth managers in the GBP1m+ market is that competitors seeking to acquire new clients will have to take them away from other wealth managers. Wealth managers held 26% of the high net worth market in 2001. It is likely that in general a lower proportion of individuals with between GBP200k-1m use wealth managers to manage their portfolios for two reasons. First, a proportion of these investors may be completely or partly self-directed. Second, a large proportion of all retail savings and investments in the UK are held in deposits. Reasons to Purchase: * Assess your competition using our UK 2001 market share data * Find out how your competition has managed to capture its market share with our company profiles * Discover how big your target market is with our UK HNW model data. * Determine the size the lucrative ultra high net worth market (GBP5m+) for 2001, including source of wealth and age. * Evaluate the year in terms of competition, products and services, distribution and alliances within your market.Get Full Details About This Report >> |
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