Global Wealth Predictions 2008

Global Wealth Predictions 2008 provides Datamonitor's definitive view on the direction of the global wealth management market for the year ahead. Using the Wealth Team's extensive knowledge, supported by insight from leading industry executives, it provides a concise executive-level view. For more details, please refer to the publications in the appendix.
Report Highlights

While Hong Kong is already saturated in terms of the number of wealth management providers and Japan faces a decline in the number of wealthy individuals and the liquid assets they hold, significant opportunities exist for wealth managers in markets such as China and India. Datamonitor predicts that the recent interest of HNW investors in Asian equity-based instruments will be intensified in 2008. In 2007, wealth managers focused on developing structured products, investment accounts and investment funds, which offered clients opportunities for investment in Asian equity. Business owners/ entrepreneurs are seen as the most receptive to innovative products and services and they are also keen to be actively involved in the management of their portfolios. The latter contributes to their need for frequent communication with their wealth manager; however they also value providers who offer high online functionality.
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DATAMONITOR VIEW 1
CATALYST 1
SUMMARY 1
2008 WILL OFFER OPPORTUNITIES TO DEVELOP NEW MARKETS AND ADDRESS PERENNIAL WEALTH MANAGEMENT CHALLENGES 2
Wealth managers will continue to go east in search of expansion opportunities 2
Private banks will increasingly put systems in place to plug the staffing gap. These will involve 'grow-your-own' initiatives as well as recruiting from established Western players 4
Private clients will shift into Asian investments 6
Wealth managers will intensify their focus on Asian and Middle Eastern clients and sharia investments 6
HNWs will shift their investments into non equity-correlated asset classes 7
Wealth managers will focus more on customer retention 9
Clients will opt for discretionary asset management and demand more face-to-face interaction with their advisors 10
Merger & acquisition activity will decline 10
For wealth managers, entrepreneurs will be an important target segment 11
2007 IN REVIEW 13
Consolidation activity in wealth management was expected to remain restrained in 2007 13
Datamonitor anticipated that regulation would put further pressure on the sector 13
2007 would see continued activity in the development of regional business models 13
Emerging markets in Asia would continue to attract international players 14
Staff shortages were expected to worsen 14
2007 would see further development of distribution channels and internal referrals 14
More wealth managers were expected to segment target groups by source of wealth 14
Wealth managers would step up efforts at "electronification" 14
Outsourcing of investment management would remain limited 15
APPENDIX 16
Methodology 16
Further reading 16
Ask the analyst 16
Datamonitor consulting 16
Disclaimer 17
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Figure 1: China will see strong growth in the number of wealthy individuals and their liquid assets 3
Figure 2: India's growing mass affluent and wealthy segments present opportunities for wealth managers 4
Figure 3: Wealth managers will poach staff from their competitors and pursue internal training 5
Figure 4: Wealth managers will focus on alternative investments 8
Figure 5: Clients are increasingly likely to defect to a competitor 9
Figure 6: More wealth managers are offering dedicated services for entrepreneurs 12
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