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High Net Worth Customer Insights and responsesPublished by: Datamonitor Published: Dec. 26, 2003 - 40 Pages Table of ContentsTABLE OF CONTENTS INTRODUCTION Catalyst Methodology HNW ATTITUDES AND INFLUENCES Overview HNW diversity and backgrounds Basic needs and sentiments Views on the market downturn Asset allocation and product considerations Future expectations and concerns HNW FINANCIAL SERVICES PROVIDERS Overview Competing propositions for HNW clients Institution types Multiple versus single providers Private banks and wealth managers Experiences of other provider types Selecting investment providers Annoyances and pet hates HNW wishlist for investment providers (1) Client advocacy and honesty (2) Genuinely tailored responsive service (3) Full product and asset class coverage (4) Two-way client defined communication (5) Functional & relevant investment reporting (6) Innovative investment ideas and approaches CONCLUSION APPENDIX Further reading Datamonitor Reports Datamonitor Global Wealth Service: Insight Reports Datamonitor Global Wealth Service: Competitor Tracking Datamonitor Financial Services Consulting SPP writing team AbstractIntroductionAgainst the backdrop of a sustained market downturn, the demanding HNW customer group have become increasingly skeptical about investment providers’ ability to protect their assets and serve their interests. Datamonitor’s report, HNW Customer Insights and Responses, analyses the key influences on HNW behaviours and requirements, and the major implications for those seeking to manage HNW wealth. Scope Provides an extensive range of customer insights and direct quotations based on 12 detailed interviews with HNW individuals. Identifies some of the fundamental needs and sentiments of the HNW customer segment and their views and reactions to the market downturn. Details HNW individuals’ experiences and opinions in relation to investment providers, including selection criteria, key annoyances and pet hates. Reasons to Purchase Numerous direct quotations allow investment providers to hear, in HNW customer's own words, their key issues, frustrations, needs and expectations. Highlights the major client dissatisfactions , allowing providers to prioritize problem areas in their customer propositions. Captures the implications of key customer insights and distills the findings into a HNW wish list of features for the ideal investment provider. Scope Highlights some specific asset allocation and product considerations as well as HNW individuals expectations and concerns regarding the future. Report Highlights An essential starting point for any financial services provider targeting HNW individuals is to recognize their diversity and the important influences this has on their behaviors and requirements. Customer quotation 1: “There has not been a lot of transparency in reporting and I think that is intentional, because they don’t want to highlight the underperformance of their funds.” Customer quotation 2: “The main thing that has prevented me from seeking the services of a wealth manager is time. I see some advantages in that someone who was dedicated to it would probably be able to achieve better returns with the money, but there is also a sense that you do have to pay for those services.” Get Full Details About This Report >> |
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