Targeting demographic customer segments in Asia-Pacific wealth management

The brief identifies business opportunities to target new money clients, assessing the revenue potential and attractiveness of various customer segments for wealth managers to target with their services.



Report Highlights
Business owners were one of the most attractive customer segments to target. The Datamonitor Asia-Pacific Wealth Managers Survey found that 80% of Asia-Pacific banks consider business owners/entrepreneurs to have a significant potential for revenue and as a result many target these customers with their services Retirees were ranked as one of the most attractive customer segments for wealth managers to target. 74% of Asia-Pacific banks believe that retirees hold significant revenue potential and as a result a majority of banks feel that these clients are an attractive market to focus.


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DATAMONITOR VIEW 1
CATALYST 1
SUMMARY 1
EXECUTIVE SUMMARY 2
Business owners/entrepreneurs and retirees are the most attractive customer segments for wealth managers target 2
Muslim and Non-Resident Indians are widely considered to be niche customer segments 3
ANALYSIS 5
Business owners and retirees hold the most revenue potential 5
80% of Asia-Pacific wealth managers view business owners and entrepreneurs as having significant potential for revenues 5
Almost three-quarters of Asia-Pacific wealth managers view retirees as holding significant revenue potential 7
Expatriates also hold revenue potential because they are considered to hold high average wealth 8
Muslims and Non-Resident Indians are considered to be niche segments 9
Due to their potential for revenues, wealth managers think entrepreneurs and retirees are an attractive segment to focus on 11
More than 80% of wealth managers find business owners/entrepreneurs and retirees significantly attractive customer segments to focus on 12
And nearly three quarters think women as a customer group hold potential 14
Wealth managers must remember that each customer segment is unique 16
Business owners/entrepreneurs are receptive to innovative products, actively manage their portfolio and have a high demand for lending products 16
Retirees take an active role in managing their portfolio, demand frequent communication, have an interest in estate planning/trust services and capital protected investments 18
Expatriates are receptive to innovative products and have an interest in online services, international services and tax advice 20
Women take an active role managing their portfolio, demand frequent interaction and are interested in online functionality 22
Data 25
APPENDIX 30
Definitions 30
Expatriates 30
Inpatriates 30
Non-Resident Indians (NRIs) 30
Methodology 30
Further reading 30
Ask the analyst 30
Datamonitor consulting 31
Disclaimer 31

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Table 1: Ranking of revenue potential across various wealth management customer segments 25
Table 2: Ranking of the attractiveness to focus on a specific customer segment with management services 25
Table 3: Ranking of receptiveness to innovative products from various customer segments 26
Table 4: Ranking of desire from various customer segments take an active role in managing their portfolio and making investment decisions 26
Table 5: Ranking of demand from various customer segments for frequent communication and interaction from their wealth manager 27
Table 6: Ranking of demand from various customer segments for online functionality from their wealth manager 27
Table 7: Ranking of demand from various customer segments for international services such as offshore investments or overseas property from their wealth manager 28
Table 8: Ranking from various customer segments for lending products from their wealth manager 28
Table 9: Ranking of demand from various customer segments for tax advice from their wealth manager 29
Table 10: Ranking of demand from various customer segments for estate planning and trust services from their wealth manager 29


Figure 1: Business owners/entrepreneurs have a diverse range of interests and demands from their wealth manager 2
Figure 2: Retirees mostly demand regular communication and interaction with wealth managers 3
Figure 3: Business owners/entrepreneurs are the most lucrative customer segment for generating wealth management revenue 5
Figure 4: Business owners/ entrepreneurs are considered the most lucrative customer segment 6
Figure 5: A majority of respondents believe that retirees hold significant revenue potential for Asia-Pacific banks 7
Figure 6: A large proportion of Asia-Pacific banks believe that expatriates hold large revenue potential 8
Figure 7: NRIs and Muslims are considered niche markets by Asia-Pacific wealth managers 10
Figure 8: Business owners/entrepreneurs are the most attractive customer segment for wealth managers to focus on 11
Figure 9: Business owners/entrepreneurs are viewed as a highly attractive customer segment to focus on 13
Figure 10: Over half the respondents view retirees as a 'very' attractive market to focus on 14
Figure 11: Women offer Asia-Pacific wealth managers an attractive market to focus on 15
Figure 12: Business owners/entrepreneurs have a diverse range of interests and demands from their wealth manager 17
Figure 13: Retirees mostly demand regular communication and interaction with wealth managers 19
Figure 14: Expatriates have strong interests in online services, international services and tax advice 21
Figure 15: Women are interested in online services and take an active role managing their investments 23


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