Wealth Management In South Africa - Market Research Report On Aarkstore Enterprise

Introduction

Introduction

This report provides clients with two measures to size their potential customer base: invested assets and income. It sizes, segments and forecasts the affluent population nationally by onshore AUM, and also presents the high-earning population across 10 provinces. Finally, it assesses the 4 main banks competing for this business there.

Scope

*Sizes the number of affluent individuals in South Africa from 2005 to 2014 across 10 liquid asset bands (in USD) from $50,000 through $3m+

*Sizes the number of high-earning individuals in the R300k-500k, R500k-750k and R750k+ annual income band, across 10 provinces.

*High-earners by province: Eastern Cape, North West, Northern Cape, Eastern Cape, Free State, Gauteng, KwaZulu Natal, Limpopo, Mpumalanga,

*Includes short profiles for the wealth management operations of: ABSA Bank, FirstRand Group, Old Mutual and Standard Bank

Highlights

There were 568,400 individuals classified as affluent in South Africa at the end of 2007, but by the end of 2008 67,000 of these individuals had slid out of the ranks of the affluent as the financial crisis severely dented portfolios.

Gauteng holds the largest proportion of high earning individuals in South Africa. This is not surprising given that Pretoria and Johannesburg are both in this province. The Western Cape, home to Cape Town, has the second largest population of high earners, followed by KwaZulu Natal, in which Durban is situated.

The South African retail banking model is a fee-per-transaction-based model, in which customers pay per transaction. It was established by the Competition Commission last year that South African bank charges are generally higher than elsewhere.

Reasons to Purchase

*Build your forward plans using our forecasts of wealthy individuals and the value of their onshore liquid assets to 2014, split by liquid asset band

*Identify where the largest concentrations of high income earner live, helping you decide where to target your marketing or to expansion regionally.

*Gain competitive intelligence by comparing the offerings and fee structures of the main South African wealth managers.

Table of Contents :

Overview 1

Catalyst 1

Summary 1

Methodology 1

Executive Summary 2

South African investment portfolios were badly affected by the global financial crisis 2

High income earners are concentrated in a few provinces 2

South Africas heavily fee-based retail banking system carries over into affluent services 3

TABLE OF CONTENTS 5

Table of figures 6

Table of tables 7

Affluent Individuals in South Africa 8

Affluence by onshore liquid assets 8

High income earners 11

High earners in the Eastern Cape 15

High earners in the Free State 16

High earners in Gauteng 17

High earners in KwaZulu Natal 18

High earners in Limpopo 19

High earners in Mpumalanga 20

High earners in the North West Province 21

High earners in the Northern Cape 22

High earners in the Western Cape 23

Financial services product holdings among the high earning population 24

Expatriates and inpatriates 24

Inpats 24

Expats 26

Wealth Management Competition in South Africa 28

Overview 28

ABSA Bank 28

Gold Banking and Platinum Banking 28

Private Banking 28

ABSA Wealth and ABSA Wealth International 29

FirstRand Group 29

RMB Private Bank (part of Rand Merchant Bank) 30

FirstRand International Wealth Management 30

Old Mutual 30

Old Mutual Private Wealth Management 30

BoE Private Clients 30

Nedbank Private Bank 31

Fairbairn Private Bank 31

Standard Bank 31

Elite Banking 31

Prestige Banking 32

Standard Bank Private Banking 32

Standard Bank Offshore 32

Appendix 33

Definitions 33

Affluent 33

High earner 33

Offshore 33

Methodology 33

Global Wealth Model 33

The UK sub-model 33

Global sub-model (for all other countries) 33

Forecasting methodology 34

Continuous refinement to the understanding of liquid wealth distribution 34

Datamonitors wealth numbers compared with other wealth numbers 34

Statistics South Africa Community Survey 35

Income studies (2007-09), University of South Africa 35

Datamonitors expatriate survey 35

Further reading 35

Ask the analyst 35

Datamonitor consulting 35

Disclaimer 35

For more information please visit :

http://www.aarkstore.com/reports/Wealth-Management-in-South-Africa-62632.html

by: Aarkstore Enterprise

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