The global economic crisis has had a major effect on Singapore's onshore wealthy population, potentially causing them to lose faith in their wealth managers. To keep clients, wealth managers need to know what this lucrative customer wants from them, in terms of products, services and interaction.
Scope
HNW demographic and attitudinal attributes based on our Wealth Management Market Leaders Survey 2009
Extensive primary research from 17 wealth management companies highlights their strategies for revenue growth, acquiring and keeping clients
Highlights
For the wealthy population living in Singapore, 2008 was a particularly tough period to bear. Business owners faced weak operating conditions, the equity market fell and properties lost value. After the first nine months of 2009,global economies are starting to appear more stabilized and a growing expectation of recovery is starting to emerge.
Datamonitor believes that Singaporean HNWs will return to risky assets over the short-term as economic conditions improve and investment assets increase in value.
Clients in Singapore have superior financial product knowledge compared to their Asia Pacific counterparts, however they struggled to fully understand how market conditions impacted on their portfolio. This presents an opportunity for wealth managers to add some real value to their offering by providing educational services for clients if needed.
Reasons to Purchase
Understand the HNW population's investments by sector and geography, appetite for risk, and reasons for choosing/leaving their wealth service
Assess the threats and opportunities for wealth managers by understanding how peers are planning to grow revenues, acquire and keep clients
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