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Wealth Management in Spain 2011
Datamonitor, June 2011, Pages: 87
Introduction
Clients lost a lot in the recession: returns, risk tolerance and confidence. Now in a rebuilding phase, wealth managers that understand their clients' demands and motivations are in the best position to profit. The analysis provides the data and insight to monitor competitors' strategies, size their potential customer base, and understand their needs.
Features and benefits
- Build your customer targeting strategy using in-depth HNW demographics and needs analysis based on The annual Global Wealth Manager Survey.
- Assess your competition through detailed profiles of notable players, including the customer targeting, marketing and product strategies they employ.
- Size your potential client base using The proprietary data, presenting the number of affluent individuals by liquid asset band to 2014.
Highlights
A new Royal Decree was passed in Spain on February 18, 2011 to reinforce the banking sector. The law has been designed to further strengthen the solvency of Spanish banks. Other legislation includes the abolition of Spanish wealth tax and the creation of a distinction between financial advisors and financial product vendors.
According to The Global Wealth Managers Survey 2011, mortgages are currently in the highest demand from Spanish HNW individuals. Over the next two years demand for all credit products will increase, and wealth managers should be ready to benefit from opportunities to strengthen their share of the HNW market.
Savings banks amalgamations that include private banking subsidiaries may have broad implications for wealth managers; these will include operational changes such as increased national networks as a result of merged regional players, and rebranding exercises which may prove either beneficial or detrimental to the private banks involved.
Your key questions answered
- What strategies are my competition employing to win and keep affluent clients?
- Which products and services will affluent clients in Spain want in the next two years?
- How is the Spanish wealth management structured? What role do banks and asset managers play?
- How many potential clients in Spain have onshore liquid assets that would allow me to run a very profitable business?
- Who are the main regulators in Spain and which legislation has impacted wealth managers?
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