According to
the study, “HNW Targeting and Retention Strategies”
Most banks like Credit Suisse, JP Morgan, BNP Paribus Citibank, Morgan Stanley,
Deutsche Bank, HSBC provide wealth management services and have a separate
business unit consulting of consultants and product specialists to provide
wealth assistance to HNW population.
Private wealth management is delivered to high net worth individuals. This
includes advice on use of various estates planning vehicles, business
succession or stock option planning with the occasional hedging of derivatives
for large blocks of stock. Traditionally, the
wealthiest retail clients of investment firms demanded a greater level of
service, product offering and sales personnel than that received by average
clients. With an increase in the number of affluent investors in recent
years, there has been an increasing demand for sophisticated financial solutions
and expertise throughout the world.
High-net-worth individual (HNWI) is a term used by some segments of the
financial services industry to designate persons whose investible assets (such
as stocks and bonds) exceed a given amount. Typically, these individuals are
defined as holding financial assets (excluding their primary residence)
with a value greater than a specified given amount. Initially the HNW
population was largely concentrated in the western countries of North America,
however recent trends have shown that the population has begun to spread across
the globe to cities such as Hong Kong, Dubai, Tokyo, London, Los Angeles to
name a few. Furthermore the rise of emerging market over the past decade has
triggered the upsurge of HNW population even in the South American and Asia
Pacific region. The largest proportion of high net worth individuals in the
world can be found in the North American region. Studies reveal that more than
half of the HNW population resides in the North America. The global growth in HNI population can be attributed to
factors like appreciation in equity and other asset classes and also in markets
like commodities and real estate.
Before selecting a wealth manager, HNW’s look for multitude factors such
as experience of the firm, the products and services offered, charges, quality
of firm and even employee turnover.
In 2017,
China’s top regulators unveiled reforms for the country’s wealth management
industry aiming to reduce the risk of accumulating across its financial system.
The major reform is to shift to ‘traditional’ asset managers. China’s asset
management industry was dominated by ‘quasi’ asset managers including bank
wealth management products and trust companies whose nature is fundamentally
different from global definitions. The traditional asset managers include
mutual funds and private funds.
HNI needs include
the likes of buying a property in Dubai, buying a structured product, picking
up a stake in a promising or upcoming business, funding a real estate project
through debt or could be even looking at the idea of buying into a distressed
asset, or writing a complex will.
Orange Business Services (France) and Additiv (Singapore), an expert in digital solutions for the financial market, have teamed up to offer digital wealth management service products. The cloud-based offerings will automate wealth management and address the strong growing demand for digital financial services from clients and the urgency to reduce operating costs by many financial institutions.
Orange Business Services (France) and Additiv (Singapore), an expert in digital solutions for the financial market, have teamed up to offer digital wealth management service products. The cloud-based offerings will automate wealth management and address the strong growing demand for digital financial services from clients and the urgency to reduce operating costs by many financial institutions.
Due to constant increase in the number of high net-worth individuals all
around the globe, this industry is expected to grow at an increasing rate in
the coming years and shall see its roots expanding to regions of Africa, Latin
America and Asia – Pacific.
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below:
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Ken Research
Ankur Gupta, Head Marketing & Communications
0124-4230204
