ベルギー・オランダのウェルスマネジメント市場：2009年

Wealth Management in the Belgo-Dutch Region 2009

発行	Datamonitor
出版日	2009年05月	商品コード	90332
ページ情報	英文 62 pages
価格	US$ 4,495 換算 ¥ 362,701 (税抜) PDF by E-mail (Single User License) US$ 11,238 換算 ¥ 906,794 (税抜) PDF by E-mail (Global Site License)

概要
原文目次
関連レポート

原文目次

Abstract

Introduction

“The market downturn has had a dramatic effect on HNWs' portfolios, 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 of this research

HNW demographic and attitudinal attributes based on our Wealth Management Market Leaders Survey 2009
Extensive primary research from 20 wealth management companies highlights their strategies for revenue growth, acquiring and keeping clients

Research and analysis highlights

Belgo-Dutch clients are characterized by loyalty, and have a high appetite for risk. However, they are not financially knowledgeable and are therefore confused by the conditions they see in the current market. They are relatively defensively positioned at present, but they are starting to return to riskier asset classes for returns.

It is more important than ever that wealth managers work to ensure that their strengths are aligned with HNWs' greatest needs. Proactivity in providing clients with ideas and identifying opportunities in the downturn are both seen as weaknesses by many wealth managers, but they are among the most important service features to HNWs.

Key reasons to purchase this research

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

OVERVIEW

Catalyst
Summary
Methodology

EXECUTIVE SUMMARY

Belgium and Holland are both reeling from the downturn due to their internationalized economies
HNWs are still willing to take on risk and are looking to profit in the downturn
Wealth managers in the Belgo-Dutch region believe their service quality is good, but need to understand the demands of their clients better

BELGIUM' S WEALTH

Belgium' s downturn is no worse than that in the rest of Europe
- The value of equities halved in 2008
- Interest rates have plummeted after growing steadily for four years

Belgian investors have drastically altered their holdings allocations
- There has been an exodus from mutual funds
- Currency and deposits are not popular, but securities other than shares increased noticeably

THE NETHERLAND' S WEALTH

The Dutch economy has been hard hit
- The Dutch economy is largely reliant on exports and its financial sector, both of which have been badly affected by the downturn
- As in Belgium, disposable income continued to rise in 2008, but the household savings rate fell
- Dutch equities have suffered badly
- Dutch households are wary of falling equities and deposits remain a safe haven

THE BELGO-DUTCH HNW INVESTOR

Belgo-Dutch HNWs are loyal and have a high appetite for risk, but they are not financially knowledgeable and are therefore confused by the current market
- Belgo-Dutch HNWs are defiant in the face of the downturn
- Wealth management service implication: educate your clients
- Belgo-Dutch HNWs are not particularly demanding when it comes to their wealth management service
- Wealth management service implication: get close and understand your clients' needs
- Innovative example from the US: Advisor Software has developed an application which tailors investment solutions to clients' needs

Belgo-Dutch HNW investors are relatively defensively positioned at present but are starting to return to riskier asset classes
- Belgo-Dutch investors moved en masse into fixed income but are already moving out and into equities
- Wealth management service implication: be proactive and innovative with investment suggestions
- Over the next two years real estate and alternative investments will become more important in HNWs' portfolios
- Wealth management service implication: help position investors for a recovery in property
- Corporate bonds will be hardest hit over the next two years, due to fear and opacity

Four main elements drive Belgo-Dutch HNWs' demands
- HNWs want to profit in the downturn
- HNWs are currently demanding more advisory and execution-only services
- HNWs want to hear how long the crisis will last
- HNWs want to be provided with auxiliary services
- Wealth management service implication: accept clients' needs at the present time in order to build a relationship for the future
- Demand will remain largely unchanged over the next two years
- Wealth management implication: offer auxiliary services as a way in which to develop relationships and increase share of wallet
- Innovative example from the UK: AWD Chase de Vere has launched Advanced Wealth Management
- Belgo-Dutch HNWs are influenced by stable, innovative and proactive wealth managers
- Wealth management service implication: look to capitalize on changes to market players' reputations through innovative marketing campaigns and investment opportunities
- Innovative example from South Africa and Guernsey: FirstRand is re-launching and honing its target audience
- Data

THE BELGO-DUTCH WEALTH MANAGER' S VIEW

Belgo-Dutch wealth managers must work on enhancing core strengths such as their financial stability
- Wealth managers' strengths are not aligned with HNWs' greatest needs
- Wealth managers believe they should make their service more personal and emphasize financial stability to increase share of wallet
- Being proactive and accurate are the major ways to retain HNW investors
- Belgo-Dutch wealth managers regularly contact their clients
- HNWs most want to discuss current and future investment opportunities with their wealth managers
- There are few common areas where wealth managers will be focusing resource in two years' time, but direct equity will be important

APPENDIX

Additional survey questions on HNW motivations
The drivers of growth in the wealthy population
- Income growth (combined with inflation, changes in GDP by sector, household savings rates and debt levels)
- Investment returns (market capitalization, interest rates and bond yields)

The following measures are not drivers of wealthy population growth in themselves
- Market capitalization
- GDP

The following measures are not drivers of wealthy population growth except under very restricted circumstances
- Primary residence value growth
- Inheritance

Methodology
- Wealth Management Market Leaders Survey 2009
- Global Wealth Model

Definitions
- Western Europe

Further reading
Ask the analyst
Datamonitor consulting
Disclaimer

TABLES

Table: HNW attributes on a scale of 1 to 4 (1 = very low, 2 = somewhat low, 3 = somewhat high, 4 = very high)
Table: HNW attributes on a scale of 1 to 4 (1 = very low, 2 = somewhat low, 3 = somewhat high, 4 = very high)
Table: What proportion of your HNWs' portfolios is allocated to the following five asset classes?
Table: HNWs' portfolio allocation now versus in two years' time
Table: What are HNWs demanding today?
Table: In two years' time, how much demand do you expect from HNWs for the following product areas?
Table: What do you find most influences the provider selection of HNWs?
Table: HNW motivations when it comes to investment decisions
Table: HNW motivations when it comes to investment decisions
Table: HNW motivations when it comes to investment decisions
Table: HNW motivations when it comes to investment decisions
Table: What are your company' s greatest strengths
Table: What is the most effective means of increasing share of wallet today?
Table: What is the best way to retain clients today?
Table: On average, how often do your relationship managers speak by phone to each HNW client?
Table: On average, how often do your relationship managers speak in person to each HNW client?
Table: When speaking with clients, what do they most want to talk about today?
Table: What product areas will your wealth management service focus most resources on in the next two years?

FIGURES

Figure: High wage growth leads disposable income higher but household savings rates fall as the economic environment worsens
Figure: The Euronext Brussels has almost halved in value, but this loss is less than that of the total European stock market index
Figure: Interest rates are falling drastically after increasing constantly for four years
Figure: Belgian investors are increasing their holdings in currency and deposits only slightly, and are avoiding mutual funds altogether
Figure: Personal disposable income continues to grow but household savings rates decline
Figure: The Euronext Amsterdam lost half of its value in 2008
Figure: Deposits grow, while equities and mutual funds decline substantially
Figure: HNW investors in Belgo-Dutch have a higher risk appetite than the average European HNW investor
Figure: Belgo-Dutch HNWs are very loyal to their wealth managers
Figure: The majority of HNW wealth in Belgo-Dutch is invested in the ' fixed Income' asset category, with this accounting for 29% of all investments
Figure: In two years' time the majority of HNW wealth in the Belgo-Dutch region will be invested in the ' equities' asset category with this accounting for 26% of all investments
Figure: There will be a large shift out of corporate bonds over the next two years
Figure: In the Belgo-Dutch region, HNW investors' greatest demand is for a view about how long the current crisis will last
Figure: In two years' time, the greatest demand amongst HNW investors in the Belgo-Dutch region will be for direct equity investment, with 89% of HNW investors demanding this category of product
Figure: HNW investors in the Belgo-Dutch region are most influenced by the financial stability of the company in their choice of wealth manager
Figure: The greatest strength of wealth managers in the Belgo-Dutch region is their personal relationships with clients
Figure: The best way for wealth managers in the Belgo-Dutch region to increase share of wallet is to target relationship managers on cross-selling products
Figure: The best way for wealth managers in the Belgo-Dutch region to retain HNW investors is to not make errors
Figure: In the Belgo-Dutch region wealth management relationship managers speak to clients by phone approximately once a week
Figure: In the wealth management relationship managers speak to clients in person approximately once a quarter
Figure: The majority of clients in Belgo-Dutch want to speak to their wealth manager about views on what the future holds
Figure: Wealth managers in the Belgo-Dutch region will be focusing most of their resources on direct equity investment in two years' time