Insight Report: Business Strategies for Targeting UHNWIs in AsiaPacific
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. Read more details @ http://www.bigmarketresearch.com/insight-report-businessstrategies-for-targeting-uhnwis-in-asia-pacific-market
Key Findings • 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.
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.
Table Of Content 1 Introduction 2 Executive Summary 3 Attitudes of Wealth Managers and Private Bankers towards the Future Outlook of Business Strategies to target UHNWIs 4 Global Snapshot of the UHNWI Market 5 Developed Markets
6 Emerging Markets 7 About WealthInsight
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.
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