Abstract
Introduction
The wealth management market in Hungary is becoming much more competitive,
spurred on by the growth of domestic providers. Hungarian 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 individuals 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 steady growth that characterized the Hungarian economy has given way to a
rather poor performance and the country faces a difficult path back to
stability. In spite of this, Datamonitor' s figures show that the number of
Hungarian affluents actually grew in 2008, thanks in good part to a preference
for more conservative investment products.
Hungarian HNWs are relatively unsophisticated and conservative when it comes
to their wealth, although their rather simple portfolio allocations are swayed
by high interest rates. Wealth managers need to cater for this by offering
them: personal service; low risk, understandable products; and customized
education in investment matters
The competitive landscape of the Hungarian wealth management market has seen
important changes over the last decade, with a number of international wealth
managers gaining a presence in the market. However, it is the domestic bank,
OTP, which occupies the number one spot in Hungary' s wealth management
landscape. This report profiles OTP.
Key reasons to purchase this research
- Understand the opportunities for foreign wealth managers in this market
through business success insights from the major players.
- Assess market attractiveness by reviewing size and growth forecasts for
the potential wealthy client base five years ahead.
- See how the Hungarian wealth management market scores against
Datamonitor' s Opportunity Index.
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