Table of Contents
- INTRODUCTION
- What is this report about?
- Who is the target reader?
- How to use this report
- CHAPTER 1 CUSTOMER ACQUISITION AND RETENTION IN WEALTH MANAGEMENT
- Obtaining new clients is a key driver of wealth management revenue growth
- Business owners and corporate executives offer the greatest potential as
wealth management clients
- New clients are being acquired through referrals from existing clients
or through intermediaries
- A marketing and branding push is the coming year's main strategic
initiative
- Because brand and personal service are important factors determining
choice of wealth manager
- New clients value high quality personal service over product range and
investment performance
- The personal relationship between clients and wealth managers is key
in determining a client's choice of wealth manager
- Clients are much less concerned with more quantative aspects of the
service they will receive
- Clients will leave their wealth manager if the quality of
communication and understanding is poor
- Clients are now more likely to take control of their wealth management
than they have been previously
- Clients now demand an increasing level of contact with their wealth
manager
- Clients are more comfortable managing their own investments than they
were two years ago
- Client relationships are only moderately strong
- Clients are more likely to change their wealth manager now than in
recent years
- The average client relationship lasts between five and ten years
- UK wealth managers control 37% of their clients' wallet
- Clients prioritise the protection of their asset base over achieving
higher returns
- Alternative investments are a key aspect of wealth management offerings
- Alternative investments have more potential than any other product area
- The improvement of alternative investment coverage is a major priority
for wealth managers
- As a result, wealth managers in the UK will focus their resources on
developing alternative investments in the next two years
- Alternative investments are likely to become as important as
traditional investments in the next two years
- APPENDIX
- Supplementary data
- Methodology
- Further Reading
- Global Wealth Management SPP
- Interactive Databases
- Market Reports
- Strategic Insight Reports
- Wealth Management Competitor Tracker
- Datamonitor Asia Pacific Wealth Management SPP
- Savings and Investments SPP
- Interactive Databases
- Reports
- Briefs
- SPP writing team
- List of Tables
- Table 1: What will most determine revenue growth in the UK market in
the next two years?
- Table 2: What client types offer the greatest potential in the next
five years?
- Table 3: In your experience, what are the most effective customer
acquisition techniques in the UK market?
- Table 4: In your experience, what are the most effective customer
acquisition techniques in the UK market?
- Table 5: What strategic initiatives are you considering or
implementing in the next year?
- Table 6: In your experience, what are the key influences that
determine a UK client's choice of wealth management service?
- Table 7: In your experience, what are the most likely reasons for
clients to leave a wealth management service?
- Table 8: To what extent do you agree with the following?
- Table 9: How long has your client base, on average, been with you?
- Table 10: What are your clients most interested in today?
- Table 11: Please rate the following product areas in terms of their
business potential among wealthy clients in your market during the next
two years
- Table 12: How are you planning to develop your investment offering in
the next two years?
- Table 13: From these product areas, which three will your company be
focusing most resources on in the next two years?
- Table 14: Approximately what share of your clients' wallet do you
think you have, on average?
- List of Figures
- Figure 1: Obtaining new clients will be the single most important
factor determining revenue growth in the next two years
- Figure 2: Business people and executives will be targeted by wealth
managers
- Figure 3: Clients are most likely to be acquired through existing
client referrals
- Figure 4: A marketing or branding exercise is the most popular
strategic initiative for wealth managers in the coming year
- Figure 5: Personal service and the image of the service are most
important to wealth management clients
- Figure 6: A failure to understand the needs of the client is the
primary reason for clients to leave their wealth manager
- Figure 7: Clients expect more contact and more control in their wealth
management relationship
- Figure 8: Clients do not demand more face to face contact, but are
confident managing their investments
- Figure 9: Clients today are far less loyal than five years ago, but
there is little difference compared with two years ago
- Figure 10: It is most common for wealth managers to have a five to ten
year relationship with their clients
- Figure 11: UK wealth managers only control around one third of their
existing clients' wallet
- Figure 12: Clients today are most concerned about protecting their
current asset base
- Figure 13: Alternative investments is the product area with the most
business potential
- Figure 14: The improvement of investment reporting and the extension
of alternative investment coverage are priority developments for wealth
managers
- Figure 15: Alternative investments is a high potential product area
and also the focus for wealth managers' resources
|
Related Report
|
View Cart
