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Tuesday 13 January 2015

Business Strategies for Targeting UHNWIs in Asia-Pacific - Market Shares , size and Forecasts 2015-2021

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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.

Executive 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.

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