Introduction
The customer needs and competitive dynamics within the wealth management market are dramatically different today than they were pre-crisis. To succeed in this new world, private banks need to challenge past assumptions, and gain a proper grasp of what HNWs want in terms of products, services and interaction, and what strategies their competitors are now following.
Scope
*HNW demographic and attitudinal attributes based on our Wealth Management Market Leaders Survey 2010
*Extensive primary research from 20 wealth management companies highlights their strategies for revenue growth, acquiring and keeping clients
*HNW demographic, needs and decision trigger data
Highlights
Nordic HNWs have a much more significant proportion of their portfolios invested in equities when compared to the European average. Nordics also have a much lower proportion of their portfolios invested in bonds and cash, indicating that they are less risk-averse than other European HNWs.
Nordic HNWs have a very strong demand for face-to-face relationship management, wanting to seek out as many opportunities to talk with their wealth manager. This can be attributed to their average knowledge of financial products coupled with being very open to new investment ideas.
The essence of the personal relationship in business is brought out in the most effective means of acquiring new HNW clients in the Nordic countries, with referrals from existing clients being pivotal to Nordic wealth managers as a means of gaining new clients.
Reasons to Purchase
*Build your customer targeting strategy using in-depth HNW population demographics and needs analysis
*Ensure customer retention by understanding the reasons that HNWs choose/leave their wealth manager in your country
*Assess the threats and opportunities for your business, including Relationship Manager recruitment, by understanding what your peers are planning
Report HighlightsNordic HNWs have a much more significant proportion of their portfolios invested in equities when compared to the European average. Nordics also have a much lower proportion of their portfolios invested in bonds and cash, indicating that they
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