Market Research Report
HNW Targeting and Retention Strategies
|Published by||GlobalData||Product code||649346|
|Published||Content info||57 Pages
|HNW Targeting and Retention Strategies|
|Published: May 30, 2018||Content info: 57 Pages||
Global HNW market comprises over 10 million plus individuals, the majority of whom are located in North America (52.3%) - predominately in the US (50.3%), making the country the largest target market globally. However, growth is more pronounced in emerging markets in Latin America and Asia Pacific.
The global number of HNW individuals is forecast to expand at an average annual growth rate (AAGR) of 5.7% between 2017 and 2021. This compares to 8.2% in Latin America and 6.5% in Asia Pacific. Being home to less developed wealth markets, private banks will also be faced with less competition in these markets.
HNW entrepreneurs are an almost equally large target group as professionals, and dedicated target programs aimed at this segment are a must across the globe. However, the entrepreneurial spirit runs particularly high in Eastern Europe.
The region's start-up scene was stagnant until only a few years ago, and while Warsaw or Istanbul cannot compete with hubs in Western Europe, such as London or Berlin, early-stage investment in the region has surged from $10m in 2011 to $283m at the end of 2016 (Venture Beat, 2017). However, while all three countries have produced a large number of HNW entrepreneurs, significant differences remain, calling for a differentiated targeting strategy.
The report "HNW Targeting and Retention Strategies", analyzes and sizes key segments of the global HNW market, and provides detailed recommendations how to best target and service these individuals. The report also provides a detailed discussion on the effectiveness of different HNW client retention strategies. It is based on our proprietary Global Wealth Managers Survey.
Companies mentioned in this report: US Bank, DBS, BNP Paribas, Optymyze, CBA, Deutsche Bank, Morgan Stanley, ICBC, China Construction Bank, Bank of China, Agricultural Bank of China, Wells Fargo, China Merchants Bank, Aldermore