Asia Pacific UHNWIs Market: Business Strategies and Insight Report of and for Wealth Managers and Private Bankers
DALLAS, January 19, 2015 /PRNewswire/ --
MarketReportsStore.com adds Insight Report: Business Strategies for Targeting UHNWIs in Asia-Pacific market research of 83 to the banking and financial services segment's research collection of its online data library.
The Insight Report: Business Strategies for Targeting UHNWIs in Asia-Pacific market research says that following the 2008 financial crisis, private banks and wealth management firms changed their business model from focusing on the size of their business to target specific client segment that yields them the largest profits such as the UHNWIs. UHNWIs are a smaller market segment than mass affluent or core millionaires but they provide greater profits to private banks and wealth managers, owing to larger investment portfolios and wealth. UHNWIs often inherit their fortunes from their families through family businesses, or they frequently create their own wealth through entrepreneurship. While UHNWIs in developed economies such as the UK and the US are older in age and often inherit wealth through family business, UHNWIs in emerging economies are young business owners who made their own fortunes. 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. Complete report is available at http://marketreportsstore.com/insight-report-business-strategies-for-targeting-uhnwis-in-asia-pacific/ .
Targeting children of UHNWIs has also become a key strategy among private banks and wealth managers' firms, in order to enhance client retention with UHNWIs. This research finds that several private banking firms, such as Barclays Wealth Management, RBC Wealth Management and Kotak Mahindra Private Banking are venturing into providing services to the children of UHNWIs. RBC in particular conducts sessions on tax and estate planning with children of UHNWIs in order to establish brand loyalty at an early age. 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. Traditional face-to-face services are likely to stay in the long term. UHNWI family business owners in emerging markets are increasing opting for single-family offices.
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 a proprietary HNWI database comprising over 120,000 individuals. Key trends and strategies in developed markets (the US, the UK, Germany, Switzerland, Canada and Australia), financial product and service offerings, the role of family offices in managing UHNWI wealth, and competitor strategy focus are covered. Also provided are Key trends and strategies in emerging markets (Brazil, Russia, India, China and South Africa), financial product and service offerings, the role of family offices in managing UHNWI wealth, and competitor strategy focus. Order a copy of this research at http://marketreportsstore.com/purchase?rname=29416 .
This report helps its readers 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 and be aware of attitudes of wealth managers and private bankers to the future outlook of business strategies in order to target UHNWIs.
Comprehensive table of contents for this report on business strategies for targeting UHNWIs in APAC are available at http://marketreportsstore.com/toc/?rname=29416 .
The Financial Services Business Confidence Report Q4 2014 analyzes global industry opinions on the latest economic and customer issues, and their impact on investment decisions and growth prospects in the financial services industry. This report also examines executive opinion of the current and future state of the economy and its effect on the industry. It analyzes the likely effect of supplier price changes, sales performance and staff headcount in the industry over October-December 2014. It also provides an overview of the key priorities, threats and opportunities for the global financial services industry over October-December 2014.
Few highlights from this quarterly business confidence report on financial services industry include: overall, 57% of financial services respondents state that they are operating in a stable economic environment, while 20% state that their current economic conditions are favorable. The highest percentage of industry executives anticipates a positive outlook for company growth prospects over October-December 2014. Operatives from North America anticipate highest increases in staff headcount and sales growth in October-December 2014. Improving operational efficiency and customer retention are the most popular priorities by financial services industry executives operating across all regions.
Explore more reports on the banking and financial services market at http://marketreportsstore.com/category/banking-finance/ .
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