Wealth Management In France 2006: Industry Research Report

Wealth Management In France 2006

Published Date: October 2006

Published By: Datamonitor

Page Count: 82

Order Code: R313-18064

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EXECUTIVE SUMMARY: Introduction; Wealthy Clients in France; Competition for Wealthy Customers
INTRODUCTION: What is this report about?; Who is the target reader?; How to use this report; Note to readers
CHAPTER 1 WEALTHY CLIENTS IN FRANCE: Introduction; Key findings; France represents an attractive market for onshore and offshore wealth management; Clients in France are financially sophisticated and demanding, but loyal, and heavily influenced by personal relationships
CHAPTER 2 COMPETITION FOR WEALTHY CUSTOMERS: Introduction; Key findings; Wealth management in France is nationally concentrated, and thus leaves little room for foreign interest; Wealth managers in France are concentrating on getting more clients and improving their back offices, but are missing opportunities; Wealth managers in France tend to organize their business around a key relationship manager, and all have client management teams for different client segments; Human resourcing is an issue for wealth managers in France; Data
APPENDIX: Definitions; Research methodology; Further Reading
List of Tables: Table 1: Number of wealthy French individuals (000s), segmented by asset band, 2001-5; Table 2: Value of onshore liquid assets held by wealthy French individuals, EURbn, segmented by asset band, 2001-2005; Table 3: Forecast number of wealthy French individuals (000s), segmented by asset band, 2006-2010; Table 4: Forecast value of onshore liquid assets held by wealthy French individuals, EURbn, 2006-2010; Table 5: French wealth manager opinion as to the client type offering the greatest potential in the French market over the next five years; Table 6: French wealth manager opinion as to the proportion of liquid assets wealthy investors put offshore; Table 7: French wealth manager opinion as to the main motivation for French investors to put their money offshore; Table 8: French wealth manager opinion as to where French investors prefer to put their offshore money; Table 9: Wealth manager opinion as to what their clients are most interested in today; Table 10: French wealth manager opinion as to the key influences that determine a French client's choice of wealth manager; Table 11: French wealth manager opinion as to the most effective customer acquisition techniques in the French market; Table 12: Agreement statements regarding client demands & preferences; Table 13: French wealth manager opinion as to the best way to retain clients; Table 14: French wealth manager opinion as to the most likely reasons for clients to leave a wealth management service; Table 15: French wealth manager opinion as to how many wealth managers wealthy clients have on average; Table 16: French wealth manager opinion as to the share of their clients' wallet held on average; Table 17: French wealth manager opinion as to how long their client base has been with them on average; Table 18: Minimum asset threshold set by French wealth managers for new clients, EUR; Table 19: Most pressing concerns for French wealth managers' business at present; Table 20: Threat level of several competitors to French wealth managers today; Table 21: Threat level of several competitors to French wealth managers in the next three years; Table 22: Major determinants of revenue growth in the French market over the next two years according to French wealth managers; Table 23: French wealth manager opinion as to the most effective means of increasing share of wallet; Table 24: Business potential of the following product areas over the next two years; Table 25: Strategic initiatives planned by French wealth managers over the next year; Table 26: Main areas of concern for French wealth managers in controlling their cost base; Table 27: Agreement statements regarding the nature of relationship managers in the French wealth management market; Table 28: Dedicated teams established by French wealth managers to attract a variety of customer groups; Table 29: Quantitative measures used by French wealth managers to assess their relationship managers; Table 30: Areas where French wealth managers will hire new staff in the next three years
List of Figures: Figure 1: The number of wealthy individuals in France has grown at a slow but steady pace since the brief dip in 2002; Figure 2: The value of liquid assets held by wealthy French clients approached nearly EUR100bn in 2005; Figure 3: The number of wealthy French individuals is expected to exceed 6m by 2010; Figure 4: The value of onshore liquid assets among wealthy French individuals is expected to reach 1.2trn by 2010; Figure 5: Corporate executives are believe to represent the biggest opportunity in the French wealth market; Figure 6: Half of wealth managers state that wealthy French clients put between 20-30% of their liquid assets offshore; Figure 7: And most affluent French individuals put money offshore for tax avoidance reasons; Figure 8: Nearly three fifths of wealthy French clients prefer Switzerland as their offshore destination; Figure 9: Wealthy French clients are most interested in protecting their asset base; Figure 10: Service quality is the key influence that determines a French client's choice of wealth manager; Figure 11: Referrals from existing clients are cited by French managers as the best way of acquiring new customers; Figure 12: French clients are demanding to know more about the management of their portfolio now than two years ago; Figure 13: The best way for French wealth managers to retain clients is to be proactive with investment suggestions and provide a decent financial planning service; Figure 14: French clients are most likely to leave their wealth manager due to a lack of proactive advice; Figure 15: Most wealthy clients in France have two wealth managers; Figure 16: French wealth managers believe they take care of somewhere between 51-70% of their client's wallet; Figure 17: French wealth managers tend to have a relationship of more than five years with their wealthy clients; Figure 18: Half of French wealth managers set a minimum asset threshold of EUR1m; Figure 19: The most pressing concern for the majority of French wealth managers is the increased competition from domestic players; Figure 20: Most French wealth managers recognize rival small & large wealth managers are a significant threat to their business in the present day; Figure 21: Obtaining new clients and improving investment performance are the two key drivers for revenue growth in the French market over the next two years; Figure 22: Offering financial planning is cited as the most effective means of increasing a client's share of wallet; Figure 23: Pensions & alternative investments have the most potential among wealthy French clients over the next two years; Figure 24: The majority of French wealth managers are planning to improve CRM & support systems over the next year; Figure 25: IT & CRM system costs are the main areas of concern for French wealth managers when it comes to controlling their cost base; Figure 26: Wealthy clients in France usually have a named relationship manager who is in contact with other specialists within the organization; Figure 27: A large degree of French wealth managers have dedicated teams set up to attract wealthy individuals such as lawyers, doctors & accountants; Figure 28: Relationship managers are assessed by a variety of quantitative measures, but client satisfaction rate has a slightly higher usage; Figure 29: The majority of new staff are expected to be hired from other wealth managers

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