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Insight Report: Business Strategies for Targeting HNWIs in Asia-Pacific

Published: Dec-2014 | Format: PDF | WealthInsight | Number of pages: 72 | Code: MRS - 2010

Synopsis

This report provides insights into the needs of HNWIs in Asia-Pacific and how best to target them by providing insightful analysis on financial products and services offering in key higher-income and lower-income countries. The report examines business strategies to target HNWIs and UHNWIs in Asia-Pacific on important areas such as expansion, client and marketing strategy. It also analyzes the market size of HNWIs, and most importantly highlights business strategies to target mobile entrepreneurs, expatriates and non-domicile individuals in the region. It uses WealthInsight’s proprietary HNWI database comprising over 110,000 individuals.

Executive summary

Asia-Pacific represents business opportunities for wealth managers and private bankers due to a rise in both the HNWI population and wealth in the region. However, unlike the developed countries of North America and Europe, HNWIs in the Asia-Pacific region differ in terms of culture, consumer preference and financial literacy. The region is attracting wealth managers and private bankers to increase their client base through inorganic expansion of wealth management firms and private banks. The report finds that a rise of philanthropy in lower-income countries such as India, China, Indonesia and Malaysia is one of the trends that will facilitate growth of wealth management in the region. However, wealth managers must overcome challenges in the regulatory environment to accommodate their expansion.

Scope

The report covers the following areas:

  • A global snapshot of the Asia-Pacific wealth industry
  • Higher-income countries including Australia, Singapore, Hong Kong and Japan
  • Lower-income countries including China, India, Malaysia, Indonesia
  • Strategies to target mobile entrepreneurs, expatriates and non-domicile individuals

Reasons to buy

  • Understand the needs of HNWIs in Asia-Pacific and know how best to serve them.
  • Make robust business decisions and build better business strategies in key business areas such as expansion, client and marketing strategy to target HNWIs in Asia Pacific.
  • Be informed about key market trends of financial products and services offerings in developed and emerging markets, and address each trend accordingly.
  • Be aware of the attitudes of wealth managers and private bankers towards the future outlook of business strategies to target HNWIs in the Asia-Pacific.

Key highlights

  • HNWI asset allocations in higher-income countries such as Japan, Australia, Hong Kong and Singapore are being driven by a growth in demand for real estate and equity products. 
  • Wealth managers are looking to capitalize on HNWI interest in venture capital and angel investments. 
  • A rise of philanthropy in lower-income countries is facilitating the growth of wealth management in emerging countries such as India, China, Indonesia and Malaysia. 
  • The regulatory environment poses a challenge for wealth managers in Asia-Pacific.
Table of Contents
 
1 Introduction 
1.1 What is this Report About? 
1.2 Definitions and Scope 
 
2 Executive Summary 
 
3 Snapshot of the Asia-Pacific Wealth Industry 
3.1 Overview 
3.2 Core Capabilities for Success in the Asia-Pacific Wealth Management Sector 
3.3 Market Size of HNWIs and Key Trends 
3.3.1 Key findings 
3.3.2 Key trends 
 
4 Higher-Income Countries: Australia, Singapore, Hong Kong, Japan 
4.1 Financial Products and Services Offerings 
4.1.1 Australia 
4.1.2 Hong Kong and Singapore 
4.1.3 Japan 
4.2 Business Strategies to target HNWIs and UHNWIs 
4.2.1 Expansion strategy 
4.2.2 Client strategy 
4.2.3 Marketing strategy 
4.3 Attitudes of Wealth Managers and Private Bankers towards Future Outlook of Business Strategies 
4.4 Challenges to Growth and Market Regulations 
 
5 Lower-Income Countries: China, India, Malaysia, Indonesia 
5.1 Financial Products and Services Offerings 
5.1.1 China 
5.1.2 India 
5.1.3 Indonesia 
5.1.4 Malaysia 
5.2 Business Strategies to Target HNWIs and UHNWIs in Lower-Income Countries 
5.2.1 Expansion strategy 
5.2.2 Client strategy 
5.2.3 Marketing strategy 
5.3 Attitudes of Wealth Managers and Private Bankers towards Future Outlook of Business Strategies 
5.4 Challenges to Growth and Market Regulations 
 
6 Strategies to Target Mobile Entrepreneurs, Expatriates and Non-Domicile Individuals 
 
7 About WealthInsight

List of Tables

Table 1: HNWI Wealth Band and Group Definitions 
Table 2: Asia-Pacific – HNWI Environment 
Table 3: Market Trends and Outlook for Private Banks in Asia-Pacific 
Table 4: Growth of HNWIs in Asia-Pacific by Volume (Thousand), 2009–2018F 
Table 5: Growth of HNWI Wealth in Asia-Pacific by Value (US$ Billion), 2009–2018F 
Table 6: Private Banks Portals, UK 
Table 7: Wealth Management Needs of Female HNWIs 
Table 8: Higher-Income Economies of Asia-Pacific: Main Companies in the Wealth Management Sector 
Table 9: Private Banks’ Real Estate and Private Equity Product Offering 
Table 10: Superannuation Funds Private Banks Australia 
Table 11: Higher-Income Economies of the Asia-Pacific Region: Main Deals 
Table 12: Higher-Income Countries: Wealth Management DIY Investment Facilities 
Table 13: Higher-Income Countries – Retirement Planning Products 
Table 14: Higher-Income Countries – Online Portals for Wealth Managers and Private Bankers 
Table 15: Commercial Bank Branches (per 100,000 Adults) in Higher-Income Countries, 2009–2012 
Table 16: Online Population Using Social Media in Higher-Income Countries in Asia-Pacific, 2012 
Table 17: Higher-Income Countries – Social Networking Platforms and Their Usage 
Table 18: Online Games From the Banking industry in Asia-Pacific
Table 19: Key Regulatory and Operational Challenges 
Table 20: Lower-Income Economies of Asia-Pacific: Main Companies in the Wealth management Sector 
Table 21: Private Banks, Real Estate and Private Equity Product Offering 
Table 22: Lower-Income Asia-Pacific Economies: Recent Main Deals in the Wealth Management Sector 
Table 23: Smartphone and Tablet Applications in Lower-Income Countries 
Table 24: Online Population Using Social Networking Across Lower-Income Countries in Asia-Pacific, 2012 
Table 25: Social Media Marketing Initiatives by Banks in Emerging Economies 
Table 26: Best Practices followed by Wealth Managers in Lower-Income Asia-Pacific Countries 
Table 27: Philanthropic Wealth Management Services in Emerging Economies
Table 28: Lower-income Countries in Asia-Pacific – Islamic Banks in Malaysia and Indonesia 
Table 29: Expatriate Services for HNWIs in Asia-Pacific

List of Figures

Figure 1: Snapshot of Asian HNWI Wealth and Population, 2013 
Figure 2: HNWI Population and Wealth by Wealth Band, 2013 
Figure 3: Higher-Income Countries – HNWI Asset Allocation 
Figure 4: Lower-Income Countries – HNWI Asset Allocation

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