Product Type: Market Research Report
Published by: Datamonitor
Published: June 2006
Product Code: R313-14835Description Introduction
Will include the impact of: business/ entrepreneurial activity as the key source of new wealth creation; the rise of large economies such India and China in the global wealth stakes; and the widespread achievement of "affluence" in many economies. The crux of the report will be to draw out strategic implications for wealth managers and understand the winning business models of the future.
Scope
- Assesses key emerging markets' potential such as China and India
- Predicts key product and service developments such as lending and client ownership
Highlights
India will become a highly important market for wealth management because wealth managers both domestic and international are able to establish the beginnings of a market with few obstacles, relative to the other emerging markets. Where there are regulatory restrictions, these are less problematic than those in China or the Middle East.
It is highly likely that over the next 20 years, wealth management will witness significant developments in the way that clients are segmented. Following from this, client service will change to complement the shift in emphasis, as factors other than the level of the client's wealth are taken into consideration.
Datamonitor research indicates that there are significant benefits in the area of liability management for the wealthy, and that the importance of liability management as part of wealth management will inevitably grow over the next 20 years, until it becomes a key service area.
Reasons to Purchase
- Understand the long term trends within the wealth management industry
- Identify areas for business development based on anticipated growth
Table of Contents
- CHAPTER 1 INTRODUCTION
- Overview
- CHAPTER 2 EMERGING MARKETS WILL BE WEALTH MANAGEMENT HUBS
- Introduction
- The economic strength of emerging markets will come to rival those of the G7
- By 2026 India will be the prime location for wealth managers
- The amount of wealth, and of wealthy people, in India will grow faster than almost any other market
- Indian economic development is creating a broad and competitive wealth management market
- Wealth managers will only be able to maximize the potential of India if they are already well-positioned
- China and the Middle East will also be key centers of wealth management
- Growth in these markets in recent years has been far greater than that of established markets and appears set to continue
- Open markets and further development will drive growth although lack of stability will hinder it
- CHAPTER 3 INNOVATIVE CLIENT SEGMENTATION WILL DEVELOP
- Introduction
- Wealth managers are beginning to investigate innovative segmentation methods to manage the changing client profile
- Over the next 20 years wealth managers will hone their segmentation methods
- Wealth managers will develop segmentation as a service efficiency initiative
- Segmentation models will apply holistic criteria to wealth management
- The most important segments globally will be entrepreneurs and SME CEOs
- CHAPTER 4 CLIENT OWNERSHIP WILL POLARIZE
- Introduction
- Financial advisers will become an important separate client segment for wealth managers
- The organization of direct client ownership will also change
- Availability and flexibility will become vital components of the business model
- Internal restructuring will aim to integrate client services
- CHAPTER 5 MASS AFFLUENT SERVICES WILL BECOME AN INTEGRAL PART OF WEALTH MANAGEMENT
- Introduction
- The rise of the mass affluent represents an opportunity for wealth managers in the medium term
- Wealth managers will capture the higher value mass affluent market by offering a scaled down wealth management service
- The mass affluent proposition will run along the lines of the current wealth management service
- CHAPTER 6 LIABILITY MANAGEMENT WILL BECOME A KEY SERVICE AREA
- Introduction
- Liability management is currently not part of the wealth management agenda but has proven potential
- Clients in developed markets are seeking more holistic wealth management services
- Liability management is clearly a profitable area with a proven existing client base
- The incorporation of lending into wealth management will shift the focus of the servce
- Specialist forms of lending will also become common additions to the offerings of many wealth managers
- Some will fail due to a persistence of the “asset focused” service model and a lack of commitment
- CHAPTER 7 CONCLUSION
- The wealth management business model of the future
- APPENDIX
- Further Reading
- Global Wealth Management SPP
- Datamonitor Asia Pacific Wealth Management SPP
- Savings and Investments SPP
- Life and Pensions SPP
- Financial Advice Market SPP
- SPP writing team
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