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Wealth Management in Italy 2011
Datamonitor, July 2011, Pages: 77
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
The tax amnesty, in 2009-201 was extremely successful and over €100 billion undeclared assets were brought back onshore, coming mostly from Switzerland. Many foreign wealth managers have expanded their operations in Italy in order to take advantage of the massive inflow of capital and to maintain relationships with pre-existing clients.
There are a few crucial gaps in the service offering of wealth managers in Italy such as the lack of tax or inheritance planning. It is crucial that wealth managers built a stronger offering in the field and build an in-house tax expertise to strengthen their relationships with clients
The Italian wealth management market is dominated by large universal banks. Unicredit and Intesa Sanpaolo are by far the two largest groups with about €70bn in AUM each.
Your key questions answered
- What strategies are my competition employing to win and keep affluent clients?
- Which products and services will affluent clients in Italy want in the next two years?
- How is the Italian wealth management structured? What role do banks and asset managers play?
- How many potential clients in Italy have onshore liquid assets that would allow me to run a very profitable business?
- Who are the main regulators in Italy and which legislation has impacted wealth managers?
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