Abstract
Introduction
The wealth management market in the Czech Republic is becoming much more
competitive, spurred on by the growth of domestic providers. Czech high net
worths, however, remain unsophisticated and staunchly conservative when it
comes to investments. To succeed in the country, wealth managers need to know
what this lucrative customer wants from them, in terms of products, services
and interactions.
Scope of this research
- Sizes, segments and forecasts the number of affluent invididuals across 10
liquid asset bands from EUR50k
- Primary research among domestic wealth managers provides insight into HNWs
and the private banking market
- Utilizes Datamonitor' s proprietary Wealth Management Opportunity Index to
score the attractiveness of the market
Research and analysis highlights
The Czech Republic' s economic performance has served as a catalyst for much
new wealth creation. Datamonitor' s figures show that the number of Czech
affluents actually grew in 2008 thanks to prudent savings habits among
investors and a preference for more conservative investment products. This
growth should continue into 2009.
Czech HNWs are unsophisticated and very conservative when it comes to their
wealth, often making decisions based on emotions rather than logic. Wealth
managers need to cater for this by offering them: friendly, personal service;
low risk, understandable products; and customized education in investment
matters.
The competitive landscape of the Czech wealth management market is in flux
after the recent damage to the standing of the international wealth managers.
Strategically, domestic players need to exploit this window of opportunity,
while international players need to reach out to the country' s wealthy
population and rebuild trust.
Key reasons to purchase this research
- Understand the Czech HNWs' attitudes and investment behaviour, and reasons
for choosing/leaving their wealth service.
- Gain insight into the competitive characteristics of the Czech wealth
management market, and learn the factors for success.
- See how the Czech wealth management market scores against Datamonitor' s
Opportunity Index.
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