Executive Summary
- UK wealth management and private banking market overview
- Customer focus: incorporating lifestyle services
- Fee structures and advertising strategies
- Tackling the strategic issues in wealth management
Chapter 1 Introduction
- Report structure
- The UK wealth management and private banking market overview
- Customer focus: incorporating lifestyle services
- Fee structures and advertising strategies
- Tackling the strategic issues in wealth management
Chapter 2 The UK Wealth Management and Private Banking Market Overview
- Summary
- UK mass affluent customers
- Market drivers
- Wealth creation and reduction factors
- GDP and other economic factors
- Liquid wealth concentration
- Market overview
- Regional analysis
- The influence of income
- Competitors
- Private client wealth managers
- Stockbrokers primary focus is on direct equity investment
- Retail asset managers
- Future hurdles
- Retail banks
- Online banks
- IFAS are key competitors
- Fund supermarkets
- European mass affluent customers
- France has the most affluent individuals in Europe
- Number of European mass affluent individuals segmented by country
- Market trends
- Banking services
- Safety and advice
- The housing boom
- Competition
- Retail banks and bancassurers
- Financial advisers
- Brokerage services
- Cross-border strategies
- Europe
- The Middle East
- Asia
- Drivers of cross-border activity
- Organic growth
- Onshore
- Brand
- Banking on proven business
- Banks demonstrating cross-border organic growth
- Mergers and acquisitions
- The Middle East
- Deutsche Bank
- Emerging markets
- Asia
- Middle East
- Central and Eastern Europe
- UK expansion
- Offshore markets
Chapter 3 Customer Focus: Incorporating Lifestyle Services
- Summary
- Introduction
- Lifestyle services
- Lifestyle services in the wealth management proposition
- Third-party lifestyle services
- Benefits of including lifestyle services into the wealth management
- proposition
- Associated difficulties
- Conclusions
Chapter 4 Fee Structure Analysis and Advertising Strategies
- Summary
- Introduction
- Fee structures
- Overview
- Affluent wealth managers
- Lower HNW wealth managers
- Upper HNW wealth managers
- Transaction and handling charges by investment type in the UK
- Tier structures
- Transparency issues
- Performance-related fees
- Advertising strategies
Chapter 5 Tackling the Strategic Issues in Wealth Management
- Summary
- Introduction
- Wealth management in retirement in the UK
- Market overview and developments
- Different needs and attitudes
- Future retirees in the future
- Pensions in the UK
- Self invested personal pensions (SIPPs)
- The facts
- Executive pension plans (EPPs)
- Small self-administered schemes (SSAS)
- Unapproved retirement benefit schemes
- Unfunded unapproved retirement benefit schemes
- Funded unapproved retirement benefits schemes
- Assets under management
- Pensions for the wealthy in Europe
- Multi-manager investment structures
- Overview
- Competition
- Property investment
- Overview
- Real estate investment trusts
- Real estate derivatives
- Property funds
- Lease structures in Europe
- Property investments for wealthy individuals
- Proportion of pan European wealth managers offering exposure to property investments
- Future prospects
- Hedge funds
- Overview
- Regulations
- UCITS 3
- UK
- France
- Germany
- Italy
- Spain
- Performance
- Fee structures
- Internal compliance
- Distribution factors
Chapter 6 Appendix
- Definitions
- Advisory portfolio management
- Asset management
- Bull market
- Bear market
- CAGR
- Discretionary portfolio management
- Equity fund
- Execution only stock broking
- First/second/third tier fee
- Fund supermarket
- Hedge funds
- Independent Financial Advisor (IFA)
- Liquid assets
- Liquid asset bands
- Liquid assets
- Lower high net worth competitor
- Upper high net worth competitor
- Mass affluent
- Mass market
- Non-core competitor
- Premier bank
- Private banks
- UCIT
List of Figures
- Figure 2.1: Identifying the dynamics of mass affluent wealth creation
- Figure 2.2: Change in the savings and investment assets between 1997 and 2002
- Figure 2.3: The mass market, mass affluent and high net worth share of total retail liquid assets 1997 and 2002
- Figure 2.4: Number of UK mass affluent individuals with liquid assets between £30,000- £200,000, 1997-002e
- Figure 2.5: Aggregate liquid assets of UK mass affluent individuals with liquid assets between £30,000-£200,000, 1997-002e
- Figure 2.6: Asset concentration, 1997-002
- Figure 2.7: Individuals holding between €50,000 and €100,000 in liquid assets account for more than 56% of the European mass affluent population
- Figure 3.8: Lifestyle services in the wealth management proposition
- Figure 5.9: Overview of multi-manager investment structures
- Figure 5.10: Key drivers behind the multi-manager trend
List of Tables
- Table 2.1: Standard average house price versus house price growth segmented by region, 1997 2002
- Table 2.2: Growth in average house prices per region, Q4 2002 to Q3 2003
- Table 2.3: Number of individuals with pre-tax earned income over£50,000 and total value of pre-tax earned income for this segment,
- Table 2.4: Proportion of total UK population in each region compared to proportion of total50,000+ £segment in each region, 2000
- Table 2.5: Thresholds and costs for the big fours premier banking offerings, 2003
- Table 2.6: Beneficial ownership of UK shares,£billion, 1998-002
- Table 2.7: UK personal deposit account balances by competitor, 1997-001
- Table 2.8: Current account rates for selected retail and online banking players, December 2003
- Table 2.9: Top 10 UK IFAs by turnover, 2002
- Table 2.10: Number of funds and fund managers offered by selected fund supermarkets, 2003
- Table 2.11: Number of European mass affluent individuals as a proportion of total population, segmented by country, 2002e
- Table 2.12: European liquid assets as a proportion of total assets, 1997 and 2002
- Table 2.13: European mass affluent individuals and liquid assets, 1997-002
- Table 2.14: Number of European mass affluent individuals segmented by country, 1997-002
- Table 2.15: Value of mass affluent liquid assets segmented by country, 1997-002e
- Table 2.16: Banks demonstrating cross-border organic growth, 1997-001
- Table 2.17: Banks that have merged or acquired to cross borders, 1996-002
- Table 4.18: Transaction and handling charges by investment type, 2002
- Table 5.19: Number of full and insured plans in force with non-insurance companies, by SIPP competitor, 2003
- Table 5.20: Number of full and insured plans in force with insurance companies, by SIPP competitor, 2003
- Table 5.21: Proportion of pan European wealth managers offering exposure to alternative investment vehicles
- Table 5.22: Proportion of pan European wealth managers offering exposure to property investments, classified geographically
- Table 5.23: Major barriers to the property investment in Europe
- Table 5.24: Pan European wealth managers expectations for changes in private clients exposure to property over the following two years
- Table 5.25: Customers primary motivation for investing in alternative investments, % of wealth manager responses, total Europe
- Table 5.26: Percentage of wealth managers offering hedge funds or envisaging doing so in the next two years, 2003
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