Product innovation in Asia-Pacific wealth management 2007

The brief will identify key product innovations within the wealth management market in Asia-Pacific and provide analysis to why these products are developing now.



Report Highlights
The Datamonitor Asia-Pacific Wealth Managers Survey 2007 found that linked products, online services and capital protected investments were considered the most innovative areas in wealth management while tax planning, inheritance planning and philanthropy services were ranked as the least innovative areas. According to the Datamonitor Asia-Pacific Wealth Managers Survey 2007 the most commonly launched products/services were lending products, online services, property investments and capital protected investments while launches of charitable or philanthropic services witnessed the least amount of new launches.


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DATAMONITOR VIEW 1
CATALYST 1
SUMMARY 1
EXECUTIVE SUMMARY 2
Linked products, online services and capital protected investments are where innovation is being seen 2
Business owners most demand private equity investments 3
ANALYSIS 5
The most wealth management product/service launches in Asia-Pacific involve lending products, online service and property investments 5
78% of Asia-Pacific banks have seen significant new launches of lending products, however innovation is lacking 6
76% of Asia-Pacific banks have seen significant new launches of online services 7
76% of Asia-Pacific banks have seen significant new launches of property investments 9
72% of Asia Pacific banks have seen significant new launches of capital protected products 10
The market has not seen much in the way of new charity/philanthropy services launches 12
Lending might be the area where the most new launches are seen, but linked products, online services and capital protected products are where innovation is being seen 13
Two thirds of banks describe linked products as significantly innovative 13
62% banks find that online services are significantly innovative 15
Asia-Pacific banks have mixed feelings regarding capital protected investments as being innovative 16
Innovation in the next two years is most likely to be seen in the areas of online services, linked products and capital protected investments 17
Over half the respondents expect a lot more innovation over the next two years in online services 18
Three quarters of Asia-Pacific banks expect at least a fair amount of innovation over the next two years in linked products 20
Capital protected products will also be innovative over the next two years 21
Retirees and business owners are demanding the most innovative wealth management products and services 22
Retirees and business owners most demand linked products 23
Retirees most demand capital protected products 24
Business owners most demand private equity investments 25
Expatriates and business owners mostly demand online services 26
Wealth managers must sell the benefits of an innovative product 27
Data 28
APPENDIX 32
Methodology 33
Further reading 33
Ask the analyst 33
Datamonitor consulting 33
Disclaimer 33

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Table 1: Level of product/service launches being witnessed in the wealth management market 28
Table 2: Level of innovation being witnessed in various wealth management areas 29
Table 3: Level of innovation expected to develop over the next two years in various wealth management areas 30
Table 4: Customer segments that have a lot of demand for the following wealth management areas 31


Figure 1: 66% of Asia-Pacific banks feel that linked products are significantly innovative 3
Figure 2: More than a quarter of respondents believe that business owners/entrepreneurs have a lot of demand for private equity investments 4
Figure 3: Nearly 80% of respondents are seeing a significant number of lending products being launched in the market 5
Figure 4: 34% of Asia-Pacific banks have seen 'many' new launches of lending products 6
Figure 5: 38% of Asia-Pacific banks have seen 'many' new launches of online services 8
Figure 6: Over a quarter of respondents have seen 'many' new launches of property investments 9
Figure 7: 24% of Asia-Pacific banks have seen 'many' new launches of capital protected products 11
Figure 8: 22% of Asia-Pacific banks have seen no significant launches of charity/philanthropy services 12
Figure 9: Linked products and online services are seen as the most innovative areas in wealth management 13
Figure 10: 66% of Asia-Pacific banks feel that linked products are significantly innovative 14
Figure 11: The highest proportion of Asia-Pacific banks find that online services are quite innovative 15
Figure 12: 57% of wealth managers consider capital protected investments significantly innovative 17
Figure 13: Online services and linked products are most likely to experienced more innovation over the next two years 18
Figure 14: The majority of respondents believe that there will be a lot more innovation in online services over the next two years 19
Figure 15: Over three-quarters of respondents expect linked products to develop significantly over the next two years 20
Figure 16: Almost a quarter of Asia-Pacific banks believe there will be a large increase in innovation over the next two years for capital protected investments 21
Figure 17: Retirees and business owners demand the most innovative products and services 23
Figure 18: Asia-Pacific banks see a lot of demand for linked products from business owners/entrepreneurs and retirees 24
Figure 19: Asia Pacific banks see a lot of demand from retirees for capital protected investments 25
Figure 20: More than a quarter of respondents see a lot of demand for private equity investments from business owners/entrepreneurs 26
Figure 21: Expatriates and business owners demand online services from their wealth manager 27


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