Wealth Management in Germany 2006: Industry Research Report

Wealth Management in Germany 2006

Published Date: September 2006

Published By: Datamonitor

Page Count: 91

Order Code: R313-16921

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EXECUTIVE SUMMARY: Introduction; Wealthy clients in Germany; Competition for wealthy customers; Products and distribution
INTRODUCTION: What is this report about?; Who is the target reader?; How to use this report; Note to readers
CHAPTER 1 WEALTHY CLIENTS IN GERMANY: Introduction; Key findings; The German mass affluent and HNW market has seen steady growth in the least 4 years; Private clients in Germany are demanding a high level of interaction and protection of their current asset base; Supplementary data
CHAPTER 2 COMPETITION FOR WEALTHY CUSTOMERS: Introduction; Key findings; Europeans largest wealth market is characterized by strong competition and consolidation; German wealth managers are concentrating on obtaining new clients and improving CRM and support systems; German wealth managers tend to organize their business around a key relationship manager, but not all specialize in key client segments; Supplementary data
CHAPTER 3 PRODUCTS AND DISTRIBUTION: Introduction; Key findings; Inheritance planning has most potential in Germany while foreign exchange is least attractive; Developing new distribution channels/approaches is not on top of the strategic agenda of German wealth managers; Supplementary data
APPENDIX: Definitions; Research methodology; Further reading; SPP writing team
List of Tables: Table 1: Number of German MA and HNW individuals by liquid asset band, 000s, 2001-2005; Table 2: German MA and HNW aggregate onshore liquid assets by liquid asset band, EURbn, 2001-2005; Table 3: Forecasted number of German MA and HNW individuals by liquid asset band, 000s, 2006-2010; Table 4: Forecasted German MA and HNW aggregate onshore liquid assets by liquid asset band, EURbn, 2006-2010; Table 5: What client types offer the greatest potential in your country in the next five years?; Table 6: In your opinion, what proportion of liquid assets do investors in your country put offshore?; Table 7: What is the main motivation for investors in your country to put money offshore?; Table 8: In your opinion, where do investors from your country prefer to put their offshore money?; Table 9: In your experience, what are the key influences that determine a client's choice of wealth management service?; Table 10: In your experience, what are the most effective customer acquisition techniques in your market?; Table 11: To what extent do you agree with the following?; Table 12: What are your clients most interested today?; Table 13: What is the best way to retain clients?; Table 14: In your experience, what are the most likely reasons for clients to leave a wealth management service?; Table 15: Which statement do you most agree with?; Table 16: Approximately what share of your clients' wallet do you think you have on average?; Table 17: How long has your client base, on average, been with you?; Table 18: Number of German banks and branch offices, 1995-2004; Table 19: German wealth managers: recent changes of ownership; Table 20: In your opinion, who are the biggest wealth managers in Germany? (open-end); Table 21: What is your minimum asset threshold for new clients?; Table 22: What are the most pressing concerns for your business at present?; Table 23: How much of a threat to your wealth business are the following competitors today?; Table 24: How much of a threat to your wealth business will the following competitors be in three years?; Table 25: What will most determine revenue growth in the German market in the next two years?; Table 26: What is the most effective means of increasing share of wallet?; Table 27: What strategic initiatives are you planning or implementing in the next year?; Table 28: What are your main areas of concern in controlling your cost base?; Table 29: Which best applies to your company's relationship management?; Table 30: Do you have dedicated teams set up in Germany to attract and manage any of the following customer groups?; Table 31: What quantitative measures are used to assess your relationship managers?; Table 32: Where will you get your staff from in the next three years?; Table 33: Please rate the following product areas in terms of their business potential among wealthy clients in your market during the next two years; Table 34: From the product areas just mentioned, which three will your company focus most resources on in the next two years?; Table 35: What strategic initiatives are you planning or implementing in the next year?; Table 36: How important are the following distribution channels for your wealth business today?; Table 37: To what extent do you agree with the following?
List of Figures: Figure 1: The number of German mass affluent and HNW individuals has grown; Figure 2: Liquid wealth of German mass affluent and HNW individuals amounted to more than EUR1.6trn in 2005; Figure 3: The German mass affluent and HNW market will reach EUR2trn by 2010, held by more than 10.5m people; Figure 4: Datamonitor forecasts steady growth in all asset bands for the German market in the next 5 years; Figure 5: Inheritors offer the greatest potential in the German market in the next five years; Figure 6: German investors put up to 30% of their liquid assets offshore; Figure 7: Tax avoidance is the main motivation for German investors to put their money offshore; Figure 8: Switzerland is the number one offshore destination for German investors; Figure 9: Personal relationship is the most important determinant of a client's choice of wealth management service; Figure 10: Word of mouth remains most effective for client acquisition; Figure 11: Clients are demanding to know more about the management of their portfolio now than two years ago; Figure 12: Clients are most interested in protecting their asset base; Figure 13: The best ways to retain clients are talking to them regularly and quick problem solving; Figure 14: German wealth managers identify several reasons why clients are leaving a wealth management service; Figure 15: The majority of wealthy individuals in Germany has more than two wealth managers; Figure 16: German wealth managers should concentrate on gaining a bigger share of clients' wallets; Figure 17: German wealth managers tend to have relatively long-term relationships with their clients; Figure 18: Deutsche Bank, UBS and Sal. Oppenheim are perceived to be the biggest wealth managers in Germany; Figure 19: The German wealth management market is characterized by a diverse mix of domestic providers; Figure 20: The elite of German wealth managers according to German newspaper Welt am Sonntag, 2006; Figure 21: Many German wealth managers target clients with EUR250K+; Figure 22: German wealth managers are most concerned about finding and attracting quality staff; Figure 23: Large wealth managers are perceived as strongest competitors; Figure 24: The main competitors will remain the same in the next 3 years; Figure 25: Obtaining new clients and increasing share of wallet will most determine revenue growth in Germany in the next tow years; Figure 26: Increasing face to face contact is the most effective way of increasing share of wallet; Figure 27: Improving CRM and support systems is the key initiative ahead; Figure 28: IT and CRM system costs are the main concern in controlling cost bases; Figure 29: German wealth managers tend to provide their clients more than one contact; Figure 30: 40% of surveyed wealth managers stated that they do not have dedicated teams set up to target and attract specific customers; Figure 31: Most relationship managers in Germany are assessed on revenue, profit and number of clients; Figure 32: New relationship managers will come mostly by hiring them from competitors; Figure 33: The biggest business potential lies in inheritance planning and alternative investments; Figure 34: Deposits and savings products, payment mechanisms and foreign exchange are perceived to have less business potential; Figure 35: German wealth managers will focus on alternative investments; Figure 36: German wealth managers seek to improve CRM and support systems in the next year; Figure 37: Accountants and lawyers are seen as important distribution channels for German wealth managers; Figure 38: German wealth managers will increasingly develop services to manage financial advisors as part of their client base

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