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市場調査レポート
スイスのウェルスマネジメント：2009年
Wealth Management in Switzerland 2009
| 発行 |
Datamonitor |
| 出版日 |
2009年07月 |
商品コード |
94596 |
| ページ情報 |
英文 70 pages |
| 価格 |
|
|
当商品の販売は、2011年11月09日を持ちまして終了しました。
アップデート版はこちらになります。
Wealth Management in Switzerland 2011
出版日: 2011年10月
商品コード: 222837
Abstract
Introduction
This report focuses on the onshore liquid wealth of affluent individuals and
the liquid assets they hold, sizing, segmenting and forecasting the affluent
population across 10 liquid asset bands. It also presents detailed HNW
demographic and decision trigger analysis, and strategies to drive revenue
growth based on large scale survey of the main players.
Scope of this research
- HNW demographic and attitudinal attributes based on our Wealth Management
Market Leaders Survey 2009.
- Sizes, segments and forecasts the number of affluent individuals across 10
liquid asset bands from EUR50k.
- Extensive primary research from 20 wealth management companies,
highlighting their strategies for revenue growth, acquiring and keeping
customers.
- In depth assessment of how UBS' s wealth management operations are
currently perceived, following the spate of bad news from the UBS AG.
Research and analysis highlights
Switzerland is now officially in recession. With asset prices in freefall,
affluent individuals have had to fight to protect what they have got. Swiss
HNWs now have one-quarter of their investments in cash; they are uncertain
about the impact of current market conditions on their portfolios and are
leaning on wealth managers for guidance.
In this time of market uncertainty, wealth managers need to understand the
underlying attitudes of clients more than ever, for they drive the type of
services that is appropriate. Ideally, wealth managers should be helping
clients see opportunities in the downturn as well as educating their clients
at this time, following the lead of UBS.
HNWs are focusing more on the brand, image and reputation of providers,
followed by personal service. A greatly enhanced personal service on the part
of Swiss wealth managers is vital to overcome any damage done to reputation by
market developments.
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 market attractiveness by reviewing size and growth forecasts for
the potential wealthy client base five years ahead.
Table of Contents
OVERVIEW
- Catalyst
- Summary
- Methodology
EXECUTIVE SUMMARY
- Switzerland is at the center of changes in the international wealth
management business
- Swiss investors have acted more defensively over the past months
- There are important differences in Swiss HNW attitudes that wealth
managers need to cater for
- Wealth managers need to consider the overlooked area of advisory services
and step up the frequency of their client contact
SPECIAL FEATURE: THE END OF AN ERA IN GLOBAL WEALTH MANAGEMENT?
- Switzerland is at the center of changes in the international wealth
management business
- Economic circumstances are driving a re-examination of global wealth
management practices
- Increasing wealth in non-Western markets is fuelling growth in wealth
management in those countries and in the process creating a more competitive
international wealth management landscape
- UBS has been damaged by a number of difficulties but is still standing
- There is no doubt that the image of UBS has been tarnished by the bank' s
troubles
- Wealth managers in Switzerland do not believe that UBS has been
irretrievably damaged
- There are unique opportunities for wealth managers to profit in this new
environment
- These opportunities should be explored at the same time as wealth
managers work to lift brand, image and reputation
- Wealth management opportunities in a downturn need to revolve around
boosting the company profile
- The onshore market for wealth management remains significant and
unaffected by challenges to the Swiss banking model
- The structure of the wealth management industry in Switzerland may be
set to change
- Expansion abroad is a key strategy for developing the wealth management
business
- It is the end of an era for wealth management but there is still a
leading role for Switzerland
SWITZERLAND' S WEALTH
- Swiss households play it safe but still manage to increase their net
financial assets through savings growth
- The financial assets of Swiss households increased at a slower rate
during 2007
- Swiss household balances have moved away heavily from equities and mutual
funds
- Swiss households show an inclination toward more safe investments
- The Swiss Exchange lost less value than other European exchanges in 2008
- Wealth Data in 2009
THE SWISS HNW INVESTOR
- Swiss investors are cautious and need guidance from their wealth managers
- Swiss investors are most likely to have cash holdings as their financial
investment
- Over the next two years, investors will cautiously start to return to
asset classes currently out of favor
- Swiss HNWs demonstrate an appetite for risk but are demanding in terms of
the standard of wealth management service
- HNWs exhibit an above average appetite for risk but are more confused
about the impact of the market turmoil on their investment portfolios
- Swiss HNWs are demanding in terms of standard of wealth management
service
- Faced with uncertainty, Swiss HNWs want to understand their investments
- Clients are clearly seeking guidance from their wealth managers
THE SWISS WEALTH MANAGER' S VIEW
- In two years' time, HNWs will still need some guidance from their wealth
managers across a range of investments
- Several fundamental products and services will be in demand from HNWs in
the next two years
- Within an overall desire for guidance from their wealth management
service, Swiss HNWs are still likely to be seeking less risky products in
two years' time
- There are three key areas where wealth managers are focusing their
resources in two years' time
- Wealth managers must pay attention to brand, image and reputation, and
develop personal relationships with clients as these are the key drivers of
HNWs' choice of wealth management service
- Wealth managers can proactively enhance their level of personal service
to help the image of the firm
- Wealth managers in Switzerland see personal relationships as their
biggest strength and service quality as their biggest weakness
- Swiss wealth managers need to convince clients that the company is
financially sound, and give them several points of contact
- The key to increasing share of wallet is to assure clients that the
company is financially sound
- Wealth managers need to give clients several points of contact within
the bank in order to be successful at retaining HNW clients
- Wealth managers in Switzerland are more likely to talk their clients daily
than other European wealth managers, with investors mostly wanting to talk
about the performance of their portfolio
- Swiss clients are being contacted by phone more frequently than in other
countries
- Swiss wealth managers are also good at getting in front of their clients
- Overall portfolio performance is mostly what Swiss HNWs want to talk
about when they speak to their wealth manager
APPENDIX
- Definitions
- 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, in themselves, drivers of wealthy
population growth
- 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
- References
- Further reading
- Ask the analyst
- Datamonitor consulting
- Disclaimer
TABLES
- Table: Wealth managers' views of UBS' s wealth management services
- Table: Wealth managers' views of UBS' s wealth management services
- Table: Wealth managers' views of UBS' s wealth management services
- Table: Wealth managers' views of strength and weaknesses of UBS' s wealth
management services
- Table: Personal disposable income per adult in Europe, 2004 - 08 ($)
- Table: Household savings rates as a percentage of disposable income, 2004
- 08
- Table: Swiss household balances, 2007 - 08 (€ m)
- Table: Market capitalization of European and US stock exchanges, 2004 - 08
- 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: HNWs' portfolio allocation by product area now versus in two years'
time
- 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 are HNWs demanding today?
- Table: In two years' time, how much demand do you expect from HNWs for the
following product areas?
- Table: What product areas will your wealth management service focus most
resources on in the next two years?
- Table: What will determine HNWs' choice of wealth management service over
the next two years?
- Table: What are your company' s biggest strengths and weaknesses today?
- 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?
FIGURES
- Figure: UBS' s brand, image and reputation has suffered as a result of the
turbulence
- Figure: UBS is perceived as having a more limited product range but is
stronger in its advisory service
- Figure: UBS' s wealth management operation is most let down by the quality
of its relationship managers and their depth of relationships with clients
- Figure: Switzerland consistently has one of the highest savings rates in
Europe
- Figure: Swiss household balances have moved heavily away from equities and
mutual funds
- Figure: The Swiss Exchange lost a lower percentage of its market
capitalization than other European exchanges
- Figure: The majority of HNW wealth in Switzerland is invested in the ' cash
or near cash' asset category, with this accounting for 25% of all investments
- Figure: Over the next two years investors will move away from those assets
currently more in favor
- Figure: In 2011, the majority of high net worth assets in Switzerland will
be invested in the ' Equities' category, with this accounting for 23% of all
investments
- Figure: HNW investors in Switzerland have a lower risk appetite than the
average European HNW investor
- Figure: There is a lower risk of HNW clients in Switzerland leaving to
find another wealth manager than the average European HNW investor
- Figure: In Switzerland, HNW investors' greatest demand is for simple,
transparent investments
- Figure: In two years' time, the greatest demand amongst HNW investors in
Switzerland will be for infrastructure funds, with 23% of HNW investors
demanding this category of product
- Figure: Wealth managers in Switzerland will be focusing most of their
resources on direct equity investment in two years' time
- Figure: HNW investors in Switzerland are most influenced by brand, image
and reputation in their choice of wealth manager
- Figure: The greatest strength of wealth managers in Switzerland is their
personal relationships with clients
- Figure: The best way for wealth managers in Switzerland to increase share
of wallet is to convince clients that the company is financially sound
- Figure: The best way for wealth managers in Switzerland to retain HNW
investors is to give the client several points of contact within the bank
- Figure: In Switzerland, wealth management relationship managers speak to
clients by phone approximately once a week
- Figure: In Switzerland, wealth management relationship managers speak to
to clients in person approximately once a quarter
- Figure: The majority of clients in Switzerland want to speak to their
wealth manager about the performance of their overall portfolio
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