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Insight Report: Business Strategies for Targeting UHNWIs, Global

Insight Report: Business Strategies for Targeting UHNWIs in Asia-Pacific

Synopsis

This report provides insights into the complex needs of UHNWIs and provides in-depth analysis of the attitudes of wealth managers and private bankers towards business strategies to target UHNWIs. It covers key developed markets as well as key emerging markets as mentioned below. The reports also analyses market size of the UHNWIs and highlights specific business strategies to target important clients by looking at expansion, client, marketing and competitor strategies. It uses WealthInsight’s proprietary HNWI database comprising over 120,000 individuals.

Developed markets include the US, UK, Germany, Switzerland, Canada and Australia.

Emerging markets include Brazil, Russia, India, China and South Africa.

Summary

Private banks and wealth management firms changed their business model following the 2008 financial crisis. Rather than focusing on the size of their business, private banks and wealth management firms have become more focused on specific client segments that yield them the largest profits. Ultra-high net worth individuals (UHNWIs) represent less than 1% of the global HNWI population, but account for around 33% of global HNWI wealth. UHNWIs offer wealth managers large-scale profitability due to the potential size of their investments. By acquiring UHNWI clients, wealth managers are able to provide a significant boost to assets under management, and build long-term profitable relationships. When using wealth management services, UHNWIs often require a more sophisticated service than mass affluent or core millionaires. Therefore, it is becoming increasingly important for wealth managers and private bankers to build trust and brand loyalty with UHNWI clients, and to understand their needs.

Scope

The report covers the following areas:

  • Attitudes of wealth mangers and private bankers to the future outlook of business strategies to target UHNWIs.
  • A global snapshot of the UHNWI market, including market sizing and forecasts.
  • Key trends and strategies in developed markets (the US, the UK, Germany, Switzerland, Canada and Australia), financial product and service offerings, the role of family offices in managing UHNWI wealth, and competitor strategy focus.
  • Key trends and strategies in emerging markets (Brazil, Russia, India, China and South Africa), financial product and service offerings, the role of family offices in managing UHNWI wealth, and competitor strategy focus.
Reasons To Buy
  • Understand the complex needs of UHNWIs and know how best to target them.
  • Make robust business decisions and build better business strategies in most important business areas such as expansion client and marketing strategies to target UHNWIs effectively.
  • Be informed about key market trends in financial product and service offerings in developed and emerging markets, and address each trend accordingly.
  • Be aware of attitudes of wealth managers and private bankers to the future outlook of business strategies in order to target UHNWIs.
Key Highlights
  • Smaller client segments such as UHNWIs yield higher returns than mass affluent or core millionaires.
  • The needs of UHNWIs in using wealth management and private banking services are complex.
  • The majority of UHNWIs (48.1%) are entrepreneurs, followed by those who earned their wealth or who run a family business.
  • Traditional face-to-face services are likely to stay in the long term.
  • UHNWI family business owners in emerging markets are increasing opting for single-family offices.
  • Targeting children became a key strategy for wealth managers and private bankers."


  • Introduction
    • What is This Report About?
    • Definitions and Scope
      • Table HNWI Wealth Band and Group Definitions
  • Executive Summary
  • Attitudes of Wealth Managers and Private Bankers towards the Future Outlook of Business Strategies to target UHNWIs
    • Table The Needs of UHNWIs in Private Banking and Wealth Management Services
  • Global Snapshot of the UHNWI Market
    • Table Competitive Benchmarking for Wealth Management Sector in Developed and Emerging Markets
    • Table Ease of Doing Business Rankings for Developed and Emerging Markets, 2014
    • A Comparison of Business Strategies for Targeting UHNWIs in Developed and Emerging Markets
      • Table Comparison of Key Parameters for the Wealth Management Sector in Developed and Emerging Markets
      • Table Comparison of Business Strategies for Targeting UHNWIs in Developed and Emerging Markets
    • Market Size of UHNWI and Key Market Trends
      • Table Developed Markets - UHNWIs Market Size, 2009-2018
      • Table Emerging Markets - UHNWIs Market Size, 2009-2018
    • UHNWI Demographic Trends
      • Table Top 10 Cities for Wealth Management, 2013
    • Drivers and Barriers of the UHNWI Market
      • Drivers
      • Barriers
        • Table Alternative Online Wealth Managers
  • Developed Markets
    • Table Developed Markets - Key Parameters for the Wealth Management Sector
    • Financial Products and Services Offerings
      • Table Developed Markets - Private Banks' Private Equity Product Offering
      • The US
      • The UK
      • Germany
      • Switzerland
      • Canada
      • Australia
    • The Role of Family Offices: Managing Wealth of UHNWIs
      • Table Alternative Online Wealth Managers
    • Business Strategies for Targeting UHNWIs
      • Expansion strategy
        • Table Developed Markets - Major Deals in the Wealth Management Sector
      • Client strategy
        • Table Developed Markets - Snapshot of Gender and Age Group Based Segmentation and Targeting Strategies
        • Table Developed Markets - Use of Analytics by Wealth Management Companies
        • Table Developed Markets - Family Office Product Offerings of Wealth Management Firms
        • Table Developed Markets - Wealth Management Workshops and Conferences by Companies
        • Table Developed Markets - Wealth Management Services for UHNWI Entrepreneurs
      • Marketing strategy
        • Table Developed Markets - Marketing Initiatives by Wealth Management Companies via Traditional Channels
        • Table Developed Markets - Social Networking Platforms and Their Usage
        • Table Developed Markets - Bank Hurdles For Customer Service
    • Competitor Strategy Focus
      • Table Developed Markets - Wealth Management Competitive Landscape
      • Table Developed Markets - List of Key Firms Operating in the Wealth Management Sector
      • Deep dive strategies of key market participants
        • Table Developed Markets - Major Wealth Management Services to Target Family Business UHNWIs
  • Emerging Markets
    • Table Emerging Markets - Key Parameters for the Wealth Management Sector
    • Financial Products and Services Offerings
      • Table Emerging Markets - Private Banks' Real Estate and Private Equity Product Offering
      • Brazil
      • Russia
        • Table Russian UHNWIs - Alternative Asset Composition (%), 2009-2018
      • India
      • China
      • South Africa
    • The Role of Family Offices: Managing Wealth of UHNWIs
      • Table Emerging Markets - Domestic Wealth Management Firms Offering Family Office Services
      • Table Emerging Markets - Wealth Management Services for Family Businesses
    • Business Strategies for Targeting UHNWIs
      • Expansion strategy
        • Table Emerging Markets - Key Deals in the Wealth Management Sector
      • Client strategy
        • Table Emerging Markets - Smartphone and Tablet Applications
        • Table Emerging Markets - Wealth Management Services for UHNWI Entrepreneurs
      • Marketing strategy
        • Table Emerging Markets - Online Population Using Social Networking, 2012
        • Table Emerging Markets - Social Media Marketing Initiatives by Banks
    • Competitor Strategy Focus
      • Table Emerging Markets - Major Companies in the Wealth Management Sector
      • Strategies adopted by key market participants
  • About WealthInsight

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