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Wealth Management in Germany 2011
Datamonitor, July 2011, Pages: 85
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
There were more than 10.5 million mass affluent individuals in Germany as of the end of 2007, which was the largest mass affluent population in Western Europe, meaning that the country's banks had a significant segment to target. But the financial crisis reduced the German mass affluent population by 1.3 million individuals by the end of 2009.
The typical German HNW individual is male, over 50 years of age, and earned his wealth through entrepreneurship. Judging by his portfolio he is conservative, choosing to allocate the highest proportion of his liquid wealth to bonds, and he sees real estate as a safe investment. Because of his interest in real estate, mortgages are in high demand.
Deutsche Bank, Commerzbank (now incorporating Dresdner Bank), and the UniCredit-owned HVB are the so-called 'big' banks in Germany, and all three offer extensive wealth management services. In addition, there are a number of foreign private banks including venerable Swiss wealth managers such as Credit Suisse, Julius Baer, Lombard Odier and UBS.
Your key questions answered
- What strategies are my competition employing to win and keep affluent clients?
- Which products and services will affluent clients in Germany want in the next two years?
- How is the German wealth management structured? What role do banks and asset managers play?
- How many potential clients in Germany have onshore liquid assets that would allow me to run a very profitable business?
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