Trends that will shake up the wealth management industry in 2010

Introduction

An understanding of possible future movements is vitally important for wealth managers in the current turbulent environment. This report draws on the predictive skills of Datamonitor’s wealth management team to identify and describe the key trends that will buffet the private banking industry in 2010, and then provides the best strategies that private banks can adopt to exploit these trends.

Scope

*Examines key trends that will impact the global wealth management industry in 2010

*Draws on Datamonitor's wide range of published reports and comment wires

*Mentions important recent developments in the wealth management market

*Tests a number of forward-looking hypotheses against a select group of wealth managers

Highlights

Among the 10 key trends that will have the greatest impact on the global wealth management market next year are the acceleration of wealth creation in Asia Pacific and the Middle East, a dramatic increase in the importance of relationship managers and the loss of further market share by large wealth managers.

Reasons to Purchase

*Learn what Datamonitor thinks will be the key trends in private banking in 2010

*Understand the likely nature, impact and duration of these trends

*Find out how wealth managers can exploit these trends for business benefit


Report Highlights

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Overview 1
Catalyst 1
Summary 1
Executive Summary 2
Many of the strongest trends for 2010 have their origins in the global crisis 2
The five 'very strong' trends will affect several key areas of wealth management in 2010 2
The two 'strong' trends will result in some major structural changes in 2010 2
The three 'significant' trends for 2010 may well surprise wealth managers 2
Table of Contents 3
Table of figures 4
Table of tables 5
The key trends that will reshape wealth management in 2010 6
Many of the strongest trends for 2010 have their origins in the global crisis 6
The five 'very strong' trends will affect several key areas of wealth management in 2010 6
Trend one: Wealth creation will accelerate in Asia Pacific and the Middle East 7
Trend two: Product pushers will no longer be tolerated by HNWs 8
Trend three: Investors will return to risky assets 11
Trend four: Relationship managers will be in great demand, especially those that can attract new clients 12
Trend five: Asset managers will continue to go up for sale 14
The two 'strong' trends will result in some major structural changes in 2010 16
Trend six: Customers will desert offshore centers 16
Trend seven: Mergers and acquisitions will continue among wealth managers 19
The three 'significant' trends for 2010 may well surprise wealth managers 21
Trend eight: Tangible assets will be a permanent feature of HNW portfolios 21
Trend nine: Large private banks will give up further market share 23
Trend 10: Wealth managers will prioritize front office technology 25
Appendix 29
Definitions 29
Bibliography 29
Further reading 29
Ask the analyst 30
Datamonitor consulting 30
Disclaimer 30
List of Tables
Table 1: The nature of trends one to five 7
Table 2: The nature of trends six and seven 16
Table 3: The nature of trends eight to 10 21
List of Figures
Figure 1: The trend of selling asset managers will not persist much longer 6
Figure 2: Most of Datamonitor's surveyed wealth managers see Asia Pacific and the Middle East as the big opportunities 8
Figure 3: Surveyed wealth managers agree that there is no place for product pushers 10
Figure 4: Wealth managers think the farmers rather than the hunters will be in most demand 13
Figure 5: Survey wealth managers generally think Goldman Sachs is doing the right thing 15
Figure 6: The move out of offshore centers is likely to still have some way to run 16
Figure 7: Surveyed wealth managers put the likely outflows from offshore to onshore markets at between 15-30% 18
Figure 8: The market seems to believe that the pace of deals in wealth management will not slow down anytime soon 20
Figure 9: Tangible assets will be a permanent feature of HNW portfolios for some time to come 21
Figure 10: The surveyed wealth managers were sitting on the fence when it came to the future of tangible assets 23
Figure 11: The wealth managers weren't enthusiastic about the idea of mass recruitment of relationship managers by large wealth managers 25
Figure 12: Surveyed wealth managers agree that budgets for online services will return in 2010 27

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List of Tables
Table 1: The nature of trends one to five 7
Table 2: The nature of trends six and seven 16
Table 3: The nature of trends eight to 10 21

List of Figures
Figure 1: The trend of selling asset managers will not persist much longer 6
Figure 2: Most of Datamonitor's surveyed wealth managers see Asia Pacific and the Middle East as the big opportunities 8
Figure 3: Surveyed wealth managers agree that there is no place for product pushers 10
Figure 4: Wealth managers think the farmers rather than the hunters will be in most demand 13
Figure 5: Survey wealth managers generally think Goldman Sachs is doing the right thing 15
Figure 6: The move out of offshore centers is likely to still have some way to run 16
Figure 7: Surveyed wealth managers put the likely outflows from offshore to onshore markets at between 15-30% 18
Figure 8: The market seems to believe that the pace of deals in wealth management will not slow down anytime soon 20
Figure 9: Tangible assets will be a permanent feature of HNW portfolios for some time to come 21
Figure 10: The surveyed wealth managers were sitting on the fence when it came to the future of tangible assets 23
Figure 11: The wealth managers weren't enthusiastic about the idea of mass recruitment of relationship managers by large wealth managers 25
Figure 12: Surveyed wealth managers agree that budgets for online services will return in 2010 27
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