Abstract
Introduction
The global economic crisis has had a major effect on Australia' s onshore
wealthy population, potentially causing them to lose faith in their wealth
managers. To keep clients, wealth managers need to know what this lucrative
customer wants from them, in terms of products, services and interaction.
Scope of this research
- HNW demographic and attitudinal attributes based on our Wealth Management
Market Leaders Survey 2009
- Extensive primary research from 16 wealth management companies highlights
their strategies for revenue growth, acquiring and keeping clients
Research and analysis highlights
Australian HNWs are displaying typically defensive behavior in the face of the
economic instability, and have lifted their proportion of assets held in cash
in 2009. Despite this, equities still accounted for the largest share of
average portfolios.
Clients place great importance on their personal relationship with their
wealth manager, and Datamonitor recommends that providers should be increasing
their client contact during the downturn, as it provides an opportunity to
return confidence to the client after most have lost significant amounts of
their wealth.
Australian wealth managers see increased face-to-face contact, gaining better
leverage from relationship managers and convincing clients that they are
financial sound as key methods to increasing share of wallet.
Key reasons to purchase this research
- Understand the HNW population' s investments by sector and geography,
appetite for risk, and reasons for choosing/leaving their wealth service
- Assess the threats and opportunities for wealth managers by understanding
how peers are planning to grow revenues, acquire and keep clients
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