Wealth Management in Australia | Market Research Report On Aarkstore Enterprise

Wealth Management in Australia | Market Research Report On Aarkstore Enterprise

Introduction

Australia weathered the global financial crisis better than most countries but it was not immune to its effects. With billions of dollars having been erased from the portfolios of the affluent, banks will need to work hard to regain the trust and funds of these lucrative customers. This report explores the changes to both the competitive landscape of the wealth marekt and to its affluent clients.

Features and benefits

* Market sizing and forecasts of the onshore wealth population and assets from 2005 - 2014. All data is segmentated into 10 asset bands.* Regional segmentation of the onshore wealthy population.* Incorporates data from Datamonitors Australian Financial Services Survey conducted in 2010.* In-depth analysis of the competitor landscape, incorporating profiles of ANZ, Commonwealth Bank, NAB, Perpetual and Westpac.

Highlights

The market for HNW and mass affluent services will have grown considerably in 2010, and is estimated by Datamonitor to have mostly recovered from the Global Financial Crisis, which resulted in a decline in 2009. In terms of the total market, the wealthy are likely to have grown in number by approximately 14% in 2010.The distribution of wealth in Australia varies considerably, with the majority of wealth and wealthy individuals concentrated in the eastern states of New South Wales and Victoria. While it is unsurprising that the highest number of wealthy live in the most populated areas, these two states also contain the highest proportion of affluent consumers.

Your key questions answered

* How big is the addressable affluent market in Australia?* Which regional markets within Australia are most ripe for client acquisition?* What asset classes have become more attractive to the Australian wealthy since the global financial crisis?* Who are the major competitors in Australian wealth management?* What strategies are the major competitors using to target the afflunet market.

Table of Contents :

Executive Summary

The wealthy onshore population in Australia is expected to have rebounded quickly from the global financial crisis

The number of wealthy individuals in Australia has declined

The wealthy in Australia have adopted more conservative attitudes to investment due to the GFC

Players will need to rebuild trust in financial advice

Wealth is concentrated among the most populous states, but this may change

New South Wales and Victoria have the highest proportions of wealthy individuals

Rapid economic growth in more sparely populated regions will make a national network more valuable

Equities have had strong inflows from the wealthy

Leading local players generally rely upon an extensive retail banking presence

The Australian wealth management scene is led by local players from the retail banking market

The HNW advice market is presently only tapping into 27% of its potential client base

OVERVIEW

Catalyst

Summary

Methodology

MARKET OVERVIEW

Introduction

Economic context

The Australian economy has been one of the few bright spots among developed markets

Equities have bounced back and should lead to a strong rebound in wealth for 2010

The regulatory picture for wealth management has shifted, bringing opportunity and challenge

The Ripoll Inquiry resulted in regulations that will cause a fundamental shift in the business model for many wealth advisors

The wealth management sector will see additional funds under management from the Henry review

The onshore wealthy population in Australia

The number of wealthy individuals in Australia suffered considerably as a result of the GFC

The mass affluent population declined by approximately 400,000 individuals in 2009

The mass affluent at all wealth levels suffered declines in the value of their assets

The challenge for the market will be to rebuild trust in riskier and higher return products

The wealthy in Australia have adopted more conservative attitudes to investment

Players will need to rebuild the trust which has been damaged by negative returns and scandal

With HNWs and the mass affluent regaining their bearings, the market will grow

THE AFFLUENT AUSTRALIAN INVESTOR

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