Ultra HNWIs in Australia to 2015

WealthInsight Ltd, March 2012, Pages: 94

Synopsis:

This report is the result of WealthInsight’s extensive research covering the UHNWI population and Wealth Management industry in Australia. It provides market size and forecasts of UHNWI populations. By leveraging the WealthInsight HNWI Database, it provides key demographic breakdowns such as city specific data.

Summary:

Australia has proved to be one of the most economically resilient first world economies in the world. This report provides historical trends and projections of the volume and wealth of Australia’s UHNWIs by city and sector. The report also reviews these findings in an analysis of Australia’s Wealth Management and Private Banking sector, and the opportunities therein.

The report features:

- Independent market sizing of Australia’s UHNWIs
- Volume and wealth trends from 2007 to 2011
- Volume and wealth forecasts to 2015
- Most up to date and thorough analysis of the demographic breakdown of Australia’s UHNWIs, including city and sector specific data
- Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in Australia
- Insights into the drivers of HNWI wealth
- Detailed family office information and trends from 2007 to 2011

Reasons To Buy:

- The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the database comprises up to one hundred data-points on over 100,000 HNWIs from around the world. It also includes profiles on major private banks, wealth managers and family offices in each country. With the database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover
- Comprehensive forecasts to 2015
- Information on sources of wealth for UHNWIs in each major city, by industry and other measures

Key Highlights:

- There are over 2,460 Ultra HNWIs in Australia, with an average wealth of US$102 million per person and a combined wealth of US$252 billion.
- Ultra volumes grew by 11% during the review period, while wealth grew by 3.7%. This was higher than the overall HNWI wealth growth of 0.9%. The number of centimillionaires increased by 15%, the largest percentage of any wealth band.
- Australian UHNWI volumes and wealth were positively influenced by a significant 44% rise in US dollar per capita GDP levels, which rose from US$46,000 in 2007 to US$66,000 in 2011. This in turn was influenced by a significant 19% appreciation of the Australian dollar against the US dollar over the review period.
- Over the forecast period, we expect Ultra HNWI volumes to rise by 22%, to reach just over 3,000 individuals in 2015. Ultra wealth is projected to increase by 21% to reach US$305 billion in 2015. This will again be led by centimillionaires, who, as a group, will see their numbers grow by 25% over the forecast period.
- Adelaide experienced the strongest UHNWI growth over the period from 2007 to 2011, with growth of 75%, followed by Perth with 52%.
- Australia is one of the largest private banking centres in Asia, with AuM of US$350 billion. The local market is dominated by local wealth managers and family offices. The single family office segment alone constitutes over US$180 billion in AuM.

1 Introduction
1.1 What is this Report About?

2 Executive Summary

3 Wealth Sector Fundamentals
3.1 Political Background of the Wealth Sector
3.2 Economic Background to the Wealth Sector
3.3 Benchmarking Australian Wealth in Context
3.3.1 Distribution of Wealth

4 Findings from the WealthInsight HNWI Database
4.1 UHNWIs
4.1.1 UHNWI Volume Trend Analysis
4.1.2 UHNWI Wealth Trend Analysis
4.1.3 UHNWI Per Capita Net Worth Trend Analysis
4.1.4 UHNWIs: demographic breakdown
4.1.5 UHNWIs: demographic breakdown by age
4.1.6 UHNWIs – Job Titles
4.1.1 UHNWIs – Sources of wealth
4.1.2 UHNWIs – Industry performance
4.1.3 UHNWIs – Importance of Entrepreneurship
4.1.4 UHNWIs – demographic breakdown by region
4.1.5 UHNWIs – State and city performance
4.1.6 UHNWIs – Forecasts
4.1.7 UHNWIs – WealthInsight ratings
4.2 UHNWIs – Billionaires
4.2.1 Billionaire Volume Trend Analysis
4.2.2 Billionaire Wealth Trend Analysis
4.2.3 Billionaire Per Capita Net Worth Trend Analysis
4.3 UHNWIs – Centimillionaires
4.3.1 Centimillionaire Volume Trend Analysis
4.3.2 Centimillionaire Wealth Trend Analysis
4.3.3 Centimillionaire Per Capita Net Worth Trend Analysis
4.4 UHNWIs – Affluent Millionaires
4.4.1 Affluent Millionaire Volume Trend Analysis
4.4.2 Affluent Millionaire Wealth Trend Analysis
4.4.3 Affluent Millionaire Per Capita Net Worth Trend Analysis

5 Competitive Landscape of the Wealth Sector
5.1 Industry Structure
5.2 Family Offices
5.2.1 Multi-Family Offices
5.2.2 Single Family Offices
5.3 Leading Companies in the Wealth Management and Private Banking Industry
5.4 Wealth Management and Private Banking Industry – Behavioral Mapping
5.5 Porter’s Five Force Analysis – Wealth Management Industry
5.6 Financial Services Review
5.6.1 Foreign Banks
5.6.2 Domestic Banks
5.6.3 Superannuation funds
5.6.4 Hedge funds
5.6.5 REITs
5.6.6 Investment Management
5.6.7 Independent financial advisors
5.7 Challenges and Opportunities for the Wealth Sector in Australia
5.7.1 Regulatory Environment
5.7.2 Tax structure
5.7.3 Human resource availability for the wealth management industry
5.7.4 Philanthropy
5.7.5 Demand for Intergenerational Wealth Transfer and Younger Clientele

6 Appendix
6.1 Pertinent Regulations
6.1.1 Regulations on Banks
6.1.2 Regulations on Taxes
6.1.3 Regulations on Fund Management
6.1.4 Regulations on Foreign Investment
6.1.5 Regulations on Real Estate
6.1.6 Regulations on Foreign Investment in Real Estate
6.1.7 Regulations on Hedge Funds
6.1.8 Regulations on Wealth Management and Private Banking
6.1.9 Regulations Related to Investment and Employment
6.1.10 Regulations Related to Immigration
6.2 Additional case study
6.2.1 Superannuation fund and insurance companies: An edge over others
6.3 Key Economic Trends and Drivers
6.3.1 AUD to USD Moving Annual Average Exchange Rate
6.3.2 Real GDP Growth
6.3.3 Per Capita GDP
6.3.4 Gross Savings Rate as a % of GDP
6.3.5 Domestic Market Capitalization
6.3.6 Housing Price Index
6.3.7 Commodity Index
6.3.8 Foreign Direct Investment
6.3.9 Investments of FII’s in Equity Products
6.3.10 Inflation Rate
6.3.11 Repo Rate
6.3.12 Balance of Payments
6.3.13 Stock Market Performance
6.3.14 HNWI Wealth vs. GDP Ratio
6.3.15 Capital Formation as % of GDP
6.3.16 Disposable Income as % of GDP
6.3.17 Additional UHNWI demographic information

7 About WealthInsight

List of Tables
Table 1: HNWI Wealth Band and Group Definitions
Table 2: Australian State Statistics
Table 3: UHNWIs – Volume by Wealth Band, 2007-15
Table 4: UHNWIs – Wealth by Wealth Band, 2007-15
Table 5: UHNWIs – Per Capita Net Worth (US$ Million), 2007-15
Table 6: UHNWIs – Sectors by State, 2011
Table 7: UHNWIs – States by Volume Growth, 2007–11
Table 8: UHNWIs – Cities by Volume Growth, 2007–11
Table 9: UHNWIs – WealthInsight Rating of Private Banking Potential
Table 10: UHNWIs – Billionaires – Market Overview, 2007-15
Table 11: UHNWIs – Centimillionaires – Market Overview, 2007-15
Table 12: UHNWIs – Affluent Millionaires – Market Overview, 2007-15
Table 13: SFOs - State Comparison and Potential
Table 14: SFOs - Sector Comparison and Potential
Table 15: SFOs – Top 10 SFOs by AuM
Table 16: Major Companies in the Financial Services Industry in Australia
Table 17: SGD to USD Moving Annual Average Exchange Rate, 2006–15
Table 18: Real GDP Growth Rate, 2006–15
Table 19: GDP Per Capita, 2006–15
Table 20: Gross Savings as a % of Real GDP, 2006–2015
Table 21: Domestic Market Capitalization, 2006–10
Table 22: Housing Price Index, 2006–10
Table 23: Commodity Indices, 2006–15
Table 24: Foreign Direct Investments, 2006–2015
Table 25: Investments of FIIs in Equity Products, 2006–10
Table 26: Inflation Rate, 2006–15
Table 27: Repo Rate, 2006–15
Table 28: Balance of Payments, 2006-10
Table 29: Stock Market Performance, 2006–10
Table 30: HNWI Wealth vs. GDP Ratio, 2006–10
Table 31: Capital Formation as % of GDP, 2006-15
Table 32: Disposable Income as % of GDP, 2006-15
Table 33: Major cities in each State

List of Figures
Figure 1: HNWI Wealth Band Definitions
Figure 2: HNWI Wealth Sector Market Attractiveness, 2007-15
Figure 3: HNWIs – Australia vs. RoW and Asia-Pacific
Figure 4: UHNWIs – Analysis of Wealth Band Evolution, 2007–15
Figure 5: UHNWIs – Volume by Wealth Band, 2007-15
Figure 6: UHNWIs – Wealth by Wealth Band (in US$ Billion), 2007-15
Figure 7: UHNWIs – Per Capita Net Worth (US$ Million), 2007-15
Figure 8: UHNWIs – Age Distribution, 2011
Figure 9: UHNWIs – Job Titles, 2011
Figure 10: UHNWIs – Distribution by Industry, 2011
Figure 11: UHNWIs – Sector Performance, 2007–11
Figure 12: UHNWIs – Importance of Entrepreneurship, 2011
Figure 13: UHNWIs – Regional Share by State and City, 2011
Figure 14: UHNWIs – Regional Count by State and City, 2011
Figure 15: UHNWIs – Human Capital Development Index by State, 2011
Figure 16: UHNWIs – State Performance, 2007-11
Figure 17: UHNWIs – State Performance, 2010-11
Figure 18: UHNWIs – City Performance, 2007-11
Figure 19: UHNWIs – City Performance, 2010-11
Figure 20: UHNWIs – Industry Forecasts, 2011–15
Figure 21: UHNWIs – City Forecasts, 2011–15
Figure 22: UHNWIs – Billionaires – Market Overview, 2007-15
Figure 23: UHNWIs – Centimillionaires – Market Overview, 2007-15
Figure 24: UHNWIs – Affluent Millionaires – Market Overview, 2007-15
Figure 25: SFOs – Geographical location by Region
Figure 26: SFOs – State Comparison
Figure 27: SFOs – By Sector
Figure 28: SFOs – Sector Comparison
Figure 29: SFOs – Retail and Fashion vs. Real Estate
Figure 30: SFOs – Basic Materials and Manufacturing vs. the Services Sector
Figure 31: Australia Wealth Management Industry – Behavioral Mapping, 2011
Figure 32: Australian Wealth Management Industry – Porters Five Forces
Figure 33: AUD to USD Moving Annual Average Exchange Rate, 2006–15
Figure 34: Real GDP Growth (%), 2006–15
Figure 35: GDP Per Capita, 2006–15
Figure 36: Gross Savings as a % of Real GDP, 2006–2015
Figure 37: Domestic Market Capitalization, 2006–10
Figure 38: Housing Price Index, 2006–10
Figure 39: Commodity Indices, 2006–15
Figure 40: Foreign Direct Investments, 2006–2015
Figure 41: Investments of FIIs in Equity Products, 2006–10
Figure 42: Inflation Rate, 2006–15
Figure 43: Repo Rate, 2006-15
Figure 44: Balance of Payments, 2006-10
Figure 45: Stock Market Performance, 2006–10
Figure 46: HNWI Wealth vs. GDP Ratio, 2006–10
Figure 47: Capital Formation as % of GDP, 2006-15
Figure 48: Disposable Income as % of GDP, 2006-15
Figure 49: UHNWIs – Age band by sector, 2011
Figure 50: UHNWIs – Job Titles, 2011

Wealth Managers:

- Prime Value Asset Management Limited
- Tristone Financial Group
- AMP Private Wealth Mngmt
- JBWere
- Perpetual
- EWM Group
- Ord Minnet
- RBS Morgans
- Deloitte Private
- Investec Bank (Australia)
- Hillross Financial Services
- Bendigo Wealth
- Centric Wealth

Multi Family Office:

- BMF Asset Management
- The Family Office - Hayes Knight
- First Unity
- Fordam
- FORM - Family Office Research and Management
- GGBWealthcare (GGB)
- Goodman - Private Wealth Advisors
- LBW
- Levi Kim & Associates Pty Ltd
- Mancell
- MGI
- Morrows - Morrows Private Wealth
- Mutual Trust
- Myer Family Office Ltd.
- Nexia ASR Family Office
- Phillips Financial
- Pitcher Partners
- Vos Family Office
- Mutual Trust Pty Ltd
- Lowenhaupt Global Advisors
- ROI Group

International Private Banks:

- Morgan Stanley Smith Barney
- UBS
- Deutsche Bank Private Wealth
- Credit Suisse
- Citi Global Wealth
- HSBC Private Bank
- Bank of America/Merrill Lynch

Local Private Banks:
- Macquarie Private Bank
- ANZ Private Bank
- Commonwealth Private
- Westpac Private Bank
- NAB Private Wealth
- BT Financial Group

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