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Viewing report
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Wealth Management in Singapore 2011
Datamonitor, July 2011, Pages: 108
Introduction
Singapore has taken its place as one of the leading wealth management centers of the world, making it key market for any major player. The domestic market, though small, is characterized by rapid growth in HNW clients and their AUM. Its highly competitive nature makes an in-depth understanding of the local market dynamics, competitive landscape and client needs critical for success.
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
Growth in the value of the assets held onshore by HNW Singaporeans is forecast to be strong over the next four years. Much of the growth in asset values will be underpinned by the global economic recovery and the enduring strength of the regional economy.
The HNW market in Singapore is dominated by male entrepreneurs or business owners aged 31–50, in contrast to the wider Asia Pacific region which has a more evenly distributed age and gender profile. In terms of life stages these individuals are also very likely to be coping with the demands of family and at-home children.
The market in Singapore has become crowded as foreign banks from elsewhere in Asia as well as further afield in Europe and North America seek to use the country as a base from which to gain exposure to Asian growth and rising affluence.
Your key questions answered
- What strategies are my competition employing to win and keep affluent clients?
- What is the potential market for a private banking or mass affluent proposition in Singapore?
- What are the most effective acquisition techniques that I should use to build up my client base?
- What products and services will have the strongest client demand going forward?
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