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Home >
Wealth Management in Australia 2009
Report
Published: August 2009
Pages: 45
Tables: For full details, please email keithw@cmsinfo.com
From: GBP 2809.38 Buy Now!
Research from: Datamonitor
Sector: Financial Services
Introduction
The global economic crisis has had a major effect on Australia's onshore wealthy population, potentially causing them to lose faith in their wealth managers. To keep clients, wealth managers need to know what this lucrative customer wants from them, in terms of products, services and interaction.
Scope
*HNW demographic and attitudinal attributes based on our Wealth Management Market Leaders Survey 2009
*Extensive primary research from 16 wealth management companies highlights their strategies for revenue growth, acquiring and keeping clients
Highlights
Australian HNWs are displaying typically defensive behavior in the face of the economic instability, and have lifted their proportion of assets held in cash in 2009. Despite this, equities still accounted for the largest share of average portfolios.
Clients place great importance on their personal relationship with their wealth manager, and Datamonitor recommends that providers should be increasing their client contact during the downturn, as it provides an opportunity to return confidence to the client after most have lost significant amounts of their wealth.
Australian wealth managers see increased face-to-face contact, gaining better leverage from relationship managers and convincing clients that they are financial sound as key methods to increasing share of wallet.
Reasons to Purchase
*Understand the HNW population's investments by sector and geography, appetite for risk, and reasons for choosing/leaving their wealth service
*Assess the threats and opportunities for wealth managers by understanding how peers are planning to grow revenues, acquire and keep clients
The global economic crisis has had a major effect on Australia's onshore wealthy population, potentially causing them to lose faith in their wealth managers. To keep clients, wealth managers need to know what this lucrative customer wants from them, in terms of products, services and interaction.
Scope
*HNW demographic and attitudinal attributes based on our Wealth Management Market Leaders Survey 2009
*Extensive primary research from 16 wealth management companies highlights their strategies for revenue growth, acquiring and keeping clients
Highlights
Australian HNWs are displaying typically defensive behavior in the face of the economic instability, and have lifted their proportion of assets held in cash in 2009. Despite this, equities still accounted for the largest share of average portfolios.
Clients place great importance on their personal relationship with their wealth manager, and Datamonitor recommends that providers should be increasing their client contact during the downturn, as it provides an opportunity to return confidence to the client after most have lost significant amounts of their wealth.
Australian wealth managers see increased face-to-face contact, gaining better leverage from relationship managers and convincing clients that they are financial sound as key methods to increasing share of wallet.
Reasons to Purchase
*Understand the HNW population's investments by sector and geography, appetite for risk, and reasons for choosing/leaving their wealth service
*Assess the threats and opportunities for wealth managers by understanding how peers are planning to grow revenues, acquire and keep clients