Research and Markets: Wealth Management in Australia - Who Are the Major Competitors in Australian Wealth Management.
Australia weathered the global financial crisis better than most countries but it was not immune to its effects. With billions of dollars having been erased from the portfolios of the affluent, banks will need to work hard to regain the trust and funds of these lucrative customers. This report explores the changes to both the competitive landscape of the wealth market and to its affluent clients.
Features and benefits:
* Market sizing and forecasts of the onshore wealth population and assets from 2005 - 2014. All data is segmentated into 10 asset bands.
* Regional segmentation of the onshore wealthy population.
* Incorporates data from the Australian Financial Services Survey conducted in 2010.
* In-depth analysis of the competitor landscape, incorporating profiles of ANZ, Commonwealth Bank, NAB, Perpetual and Westpac.
* The market for HNW and mass affluent services will have grown considerably in 2010, and is estimated to have mostly recovered from the Global Financial Crisis, which resulted in a decline in 2009. In terms of the total market, the wealthy are likely to have grown in number by approximately 14% in 2010.
* The distribution of wealth in Australia varies considerably, with the majority of wealth and wealthy individuals concentrated in the eastern states of New South Wales and Victoria. While it is unsurprising that the highest number of wealthy live in the most populated areas, these two states also contain the highest proportion of affluent consumers.
Your key questions answered:
* How big is the addressable affluent market in Australia?
* Which regional markets within Australia are most ripe for client acquisition?
* What asset classes have become more attractive to the Australian wealthy since the global financial crisis?
* Who are the major competitors in Australian wealth management?
* What strategies are the major competitors using to target the affluent market.
Some Key Topics Covered:
* Executive Summary
* The wealthy onshore population in Australia is expected to have rebounded quickly from the global financial crisis
* - The number of wealthy individuals in Australia has declined
* - The wealthy in Australia have adopted more conservative attitudes to investment due to the GFC
* - Players will need to rebuild trust in financial advice
* Wealth is concentrated among the most populous states, but this may change
* - New South Wales and Victoria have the highest proportions of wealthy individuals
* - Rapid economic growth in more sparely populated regions will make a national network more valuable
* - Equities have had strong inflows from the wealthy
* Leading local players generally rely upon an extensive retail banking presence
* - The Australian wealth management scene is led by local players from the retail banking market
* - The HNW advice market is presently only tapping into 27% of its potential client base
For more information visit http://www.researchandmarkets.com/research/3f46a6/wealth_management
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|Date:||Feb 1, 2011|
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