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Wealth in France: Sizing the Market Opportunity

Wealth in France: Sizing the Market Opportunity

Summary

Wealth in France: Sizing the Market Opportunity analyzes France's wealth and retail savings and investments markets, with a particular focus on the HNW segment. Analysis is based upon our 2014 Global Wealth Managers Survey, our Global Wealth Markets Analytics, and our Global Retail Investments Analytics.

Synopsis

  • Size your potential client base using our proprietary data, presenting the number of affluent individuals by liquid asset band to 2018.
  • Understand the drivers behind the growth of the affluent market, such as the wider macroeconomic environment and investment preferences.
  • Quantify HNW asset allocations into non-liquid assets such as property. Find out how much of their investible assets are held offshore.
  • Export the graphics from the dashboard, or if you are more at ease using Excel, export the data into your own worksheets.
Reasons To Buy
  • How large is the mass affluent and HNW market in France?
  • What is the penetration of affluent individuals in France?
  • What is the current and future mix of asset class balances in France?
  • How much of their wealth do French HNW individuals invest offshore?
  • Which booking centers are used by French individuals to invest offshore?
Key Highlights

One of the top 10 wealth markets in the world, the French wealth market experienced reasonable growth in 2014. Affluent individuals currently account for 13.8% of the adult population, with more growth anticipated in the HNW segment over the coming years.

France's retail savings and investments market performed extremely well in 2012 but growth has since cooled, largely thanks to meagre economic growth hovering around 0.3%. Looking forward, growth is anticipated across all asset classes (with the exception of bonds).

French HNW individuals hold on average 7% of their portfolios offshore, with the majority of this booked in other European markets, notably Switzerland and Luxembourg. In most cases tax is the main driver for offshore holdings, with political stability another key factor.


  • Executive Summary
    • The development of the French affluent market depends on the country's economic turnaround
    • Key findings
    • Critical success factors
  • Sizing and Forecasting the French Wealth Market
    • Affluent individuals represented 13.8% of the adult population in 2014
    • The affluent account for 13.8% of the adult population, but hold 76.8% of total liquid assets
  • Drivers of Growth in the French Wealth Market
    • Total retail savings and investments growth will remain subdued in the coming years
      • Deposits and mutual funds dominate the retail savings and investments market
    • France's economy is not yet on the way to recovery
      • France has not yet made headway in stimulating economic growth
      • The CAC 40 was highly volatile in 2014 and remains well below its 2007 year-end value
  • HNW Investment Preferences
    • French HNW individuals hold 26% of their portfolios in illiquid assets
      • Direct property investment is a notable component of French HNW portfolios
    • French HNW individuals invest just 7% of their portfolios offshore
      • Tax is the number one motivation for offshore investment
        • Table French income tax rates and thresholds for individuals, 2014
        • Table Tax surcharges on property gains, 2014
        • Table French social tax rates, 2014
        • Table French wealth tax rates, 2014
      • The majority of French HNW offshore wealth is held close to home
  • Appendix
    • Abbreviations and acronyms
    • Supplementary data
      • Table Total French adult population by asset band (000s), 2009-13
      • Table Total French adult population by asset band (000s), 2014e-18f
      • Table Onshore liquid assets by asset band ($bn), 2009-13
      • Table Onshore liquid assets by asset band ($bn), 2014e-18f
    • Definitions
      • Affluent
      • Domicile
      • DTA
      • HNW
      • Liquid assets
      • Mass affluent
      • Onshore
      • Residency
      • TIEAs
    • Methodology
      • 2014 Global Wealth Managers Survey
      • Global Wealth Model methodology
      • Verdict Financial's Global Retail Investments Analytics methodology
      • Exchange rates
        • Table Euro-US dollar exchange rate, December 31, 2012 and December 31, 2014
    • Bibliography
    • Further reading

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