Wealth Management : The Key Dynamics for Growth

Transcription

1 Brochure More information from Wealth Management : The Key Dynamics for Growth Description: The financial crisis has badly damaged the once-booming wealth management business that of providing product, advice and service to individuals ranging in wealth from affluent to ultra-high net worth. High margin products have been shown to be toxic, the asset base on which revenues are calculated has been devastated, but - worst of all - trust in many providers has evaporated. Both product providers and client relationship managers, however, must recover and address a number of issues. Is wealth management still an attractive sector? If so, for which institutions among the existing or future providers? What products offer above-average attractiveness in terms of relative profit and future growth? Will there be a significant shift in distribution channels? Which are the case studies of success which have emerged from the crisis, and to what do they owe their success? Based on a series of exclusive and tightly focused interviews with product providers, managers of client relationships, independent analysts, management consultants and others with in-depth as well as objective insights into the business, Wealth Management : The Key Dynamics for Growth provides a roadmap for success in a sector that needs to find a new strategic blueprint. Contents: Executive summary Chapter 1: Impact of the financial crisis on wealth management - Massive loss of trust in the provider - The explosion of regulation - Questioning the ultimate value added by wealth management. - Meeting customer needs - The stagnation of global AUM Chapter 2: The business model: winners and losers - Advice vs. product - Some problem models - Possible conflicts of interest - Conclusions Chapter 3: The client service model - The client profile - The client s needs - Responses of wealth management providers - Evaluating potential for strategic success Chapter 4: The product dimension - Advice as the core product - The balance between in-house and outsourced products: - The performance challenge: rapid change in customer demand and few winners who capture it - Conflicting views on risk preference - Case study: Product selection Chapter 5: Reshaping the operating model - Reshaping the front office - Investment in systems: cutting costs and improving client service - Align client coverage and profitability: the segmentation issue - The cost of entering new markets Chapter 6: Risk and regulation - The financial/managerial dimension - The strategic impact of new regulation - Case study: Offshore banking

2 Chapter 7: Success in international expansion - Key variables for a global strategy - Size and profile of the wealth pool - Prospects for growth in the wealth pool - Investment preferences - Patience and sustained investment - Openness to new financial relationships - Brand - An existing banking network or other non-wealth management sources of revenue - Building an international wealth management business - Case studies of international success - Future issues for international expansion Chapter 8: The profit profile - Wealth management s profit potential - Polarisation of profitability among segments and individual firms - The impact of market volatility - The challenge from managed funds - Creating and capturing product trends - The challenge of improving productivity and client service Chapter 9: Case studies of wealth management success - BNY Mellon: Successful diversification across key wealth management businesses - Wealth management strategy - Julius Baer Group: A Swiss private bank separates advice from product management and builds a successful global network - Wealth management strategy - Credit Suisse: One of the two Swiss global banks gains profitable new wealth advisory business and restructures its asset management function - HSBC: One of the world s leading global banks invests in improved operating systems as well as third party compliance in its wealth management arm - JP Morgan Chase: A leading US bank leverages its strong brand, broad product strength and diversified client base to create sustained growth in wealth management - Schroder PLC: A UK asset manager builds a highly competitive global product range and diversifies successfully out of its home market Chapter 10: The outlook for wealth management - Regulation: - The need for scale and size - Geographic focus - Client focus - The product challenge - Cost management - Conclusions Chapter 11: Conclusions

3 - The business model: - The client service model - Product profile: - The operating model - Market expansion - Profitability - Outlook List of Figures - Figure 1: Collapse of European profit pool in Figure 2: Wealth management transactions Figure 3: ROA varies across business models - Figure 4: Geographic distribution of high net worth individuals by region - Figure 5: Criteria for client base segmentation - Figure 6: Breakdown of global wealth management sector by wealth band - Figure 7: Proportion of time spent by a relationship manager - Figure 8: Asset allocation Figure 9: Differentials in frontline - Figure 10: Risk officer priorities: current and in two years time - Figure 11: Sources and destinations of offshore funds - Figure 12: Number and proportion of millionaire households - Figure 13: Interface between BNY Mellon s asset and wealth management functions with other group units - Figure 14: Julius Baer s global network - Figure 15: UHNWI sector in Credit Suisse combines superior growth and net profitability - Figure 16: Synergies between JPMorgan s asset management function and other group units - Figure 17: Schroders regional net flow of investment Ordering: Order Online - Order by Fax - using the form below Order by Post - print the order form below and send to Research and Markets, Guinness Centre, Taylors Lane, Dublin 8,

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