2020 Foresight Report: Business Strategy for Targeting HNWIs – Emerging Opportunities, Trends and Profitable Operating Models in Asia-Pacific

The Asia-Pacific region has become the largest market for high net worth individuals (HNWIs) globally, and is primarily driven by the increasing HNWI population in Japan, China and India. Economic growth and rising realty prices during the review period were the main reason for growth of HNWI numbers in the region. Growing wealth in this region and the emergence of Singapore and Hong Kong as offshore hubs have attracted a large number of wealth management companies to set up branches in the region. Additionally, tax advantages and opportunities for global diversification have made offshore banking an attractive option for foreign banks in this region. Most wealth management companies are entering this highly lucrative market either through joint ventures, partnerships or by acquiring a domestic firm. The entry of international wealth management firms has made the market competitive and wealth management firms now offer premium services and sophisticated products to counter the fierce competition.

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The report provides analysis, information and insights into the business strategies adopted by wealth management companies in the Asia-Pacific region to target HNWIs:

• Examines consumer attitudes and behavior such as asset allocation and looks into key market trends in the Asia-Pacific wealth management industry
• Details the market potential and key trends across asset classes in each of the profiled Asia-Pacific countries
• Provides an understanding of the impact of changing regulations and consumer behavior on the profitability of wealth management firms

Scope

• This report examines the changing consumer behavior of HNWIs in the Asia-Pacific region and details the various product, distribution and expansion strategies adopted by wealth management firms
• The report details the market potential and key trends in the HNWI market in the Asia-Pacific region and provides an overview of the HNWI population and HNWI wealth across asset classes
• It provides insights into the changing consumer behavior of HNWIs in the Asia-Pacific region and how wealth management firms are redesigning their products and services to gain market share
• The report discusses the expansion strategies adopted by wealth management firms to gain market share
• It details various sales and distribution strategies adopted by wealth management firms to reach HNWI customers
• The report outlines changing regulatory trends and the operational and technological challenges faced by wealth management firms in the country

Reasons To Buy

• Assess the market potential, key trends and drivers impacting the growth of the wealth management industry in the Asia-Pacific region
• Gain insight into the key sales and distribution strategies adopted by wealth management companies to target HNWIs in the Asia-Pacific region
• Understand the emerging consumer behavior of HNWIs in the Asia-Pacific region and product strategies adopted by key players to target them     
• Analyze the impact of regulatory, political and technological challenges on the profitability of the wealth management industry

Key Highlights

• Most HNWIs in the Asia-Pacific region are either first-generation HNWIs or inheritors of family wealth
• With the cooling of realty and equity markets there has been strong growth in fixed-income funds in Asia-Pacific, and most wealth management firms in the region offer a range of fixed-income products
• An increasing number of HNWIs in the Asia-Pacific region are showing interest in investments of passion, such as art, jewelry and collectibles, as they are increasingly delivering higher returns than equities
• Wealth management firms in the Asia-Pacific region are facing severe profitability pressures due to stringent regulations laid down by banking regulators in this region
• Offshore wealth centers catering to Asia-Pacific clients are growing at a rapid pace, with Singapore and Hong Kong emerging as key destinations

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