Targeting Entrepreneurs

Table of Contents

• Overview
• CHAPTER 1 BEST PRACTICE IN TARGETING AND ACQUIRING ENTREPRENEURS
  • Introduction
  • The first step for wealth managers is understanding how to approach and reach entrepreneurs
    • Look to existing clients to provide referrals and generate confidence in the service
    • Streamline referrals across the banking network
    • Establish a regional presence
    • Reinforce brand and commitment with networking opportunities and publications
  • Understanding the service needs of entrepreneurs is key to convert them into clients
    • Integrate banking areas and raise convenience levels to maximise efficiency
    • Leverage the global reach and scope of the banking network as a whole
    • Clearly demonstrate knowledge and understanding of the world of SMEs and the mindset of entrepreneurs
    • Target clients at the right time in the life of their business
    • Develop a flexible system allowing clients to take as much control over their finances as they require
    • Match clients with staff that have an understanding of the particular needs of this segment
• CHAPTER 2 PROFILES: STRATEGIES FOR TARGETING ENTREPRENEURS
  • Introduction
  • A specific service is offered by some wealth managers seeking to differentiate their service for entrepreneurs
    • Clear client segmentation and the maintenance of a high profile sets Coutts apart
    • BNP Paribas Private Bank offers a degree of self-direction within a specific information-based service
    • Fortis Banque aims to maximise convenience within a single comprehensive dedicated service
  • "Client-type" segmentation is not universally embraced by wealth managers
    • Morgan Stanley Private Wealth Management makes use of a range of client acquisition channels
    • HSBC Private Bank access entrepreneurs through regional positioning
    • Lloyds TSB' s focus on female entrepreneurs promises an even more tailored approach
    • Citigroup leverages its global reach and investment banking strength
    • SG Private Banking brings corporate banking closer to private banking while streamlining the referrals process
• APPENDIX
  • Further Reading
    • Global Wealth Management SPP
      • Interactive Databases
      • Market Reports
      • Strategic Insight Reports
      • Wealth Management Competitor Tracker
    • Asia Pacific Wealth Management SPP
    • Savings and Investments SPP
      • Interactive Databases
      • Reports
  • SPP writing team