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Weathering the storm in Wealth Management 2007
Datamonitor, Dec 2007, Pages: 19
There are conflicting views among wealth managers and economists, as well as in the media, about the extent and duration of sub-prime mortgage defaults and the resulting credit squeeze. Datamonitor predicts that the impact on financial services will be significant, and will last through 2009. We have produced a series of reports to identify the strategies to help them insulate their revenues.
Scope
- Introduces Datamonitors detailed analysis of the global investment markets through 2011
- Presents results from Datamonitors 2007 European Wealth Management Market Leaders Survey of 140 companies
- identifies the products and services that will keep and/or attract clients in todays market, including examples of the companies launching them
- assesses the smart strategies around marketing and communications, and identify the companies that have been proactive in contacting their client base
Highlights of this title
Only 8% of wealth managers anticipate a market downturn, leaving the vast majority of wealthy clients wondering what the future has in store for them. Since 78% of wealth managers share their clients with at least one other wealth manager, there is significant potential to increase share of wallet simply by talking to clients.
One implication of a market downturn is a cut in rates; banks that work closely with their lending side can increase share of wallet this way. As lending criteria tightens, clients with good credit will be even more important to keep hold of.
When market conditions improve, it will not only be clients at risk of defection. Relationship managers will be on the move, most likely to the highest bidder, just as we have seen in 200607 (55% of European wealth managers were undertaking a significant staff recruitment program in 2007, 41% planned such a program in 2006).
Key reasons to purchase this title
- Learn what the global investment markets have in store for wealth managers through 2009, and why.
- Identify the strategies that will keep your customers through concrete examples of peers that are implementing those strategies already
- Identify the best products and services to launch, or re-launch, in todays market, and those that will best position you during the recovery in 2009
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