subject: Wealth Management In South Africa Now Available At Reportsandreports [print this page] Dallas, TX:ReportsandReports announce it will carryWealth Management in South Africa Market Research Report in its Store.
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 Africa's 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
Datamonitor's wealth numbers compared with other wealth numbers 34
Statistics South Africa Community Survey 35
Income studies (2007-09), University of South Africa 35
Table 3: Number of individuals (000s) by liquid asset band, 2005-09 10
Table 4: Number of individuals (000s) by liquid asset band, 2010f-14f 11
Table 5: FNB Wealth performance (Rm), 2009 29
List of Figures
Figure 1: Affluent South Africans took a knock in 2008 and 2009 but their wealth is expected to grow strongly again in the 2010f-14f period 2
Figure 2: Number of high earning individuals, Gauteng, 2009 3
Figure 3: Affluent South Africans took a knock in 2008 and 2009 but their wealth is expected to grow strongly again in the 2010f-14f period 8
Figure 4: There will be more than a million affluent people in South Africa by 2014 10
Figure 5: Mass affluent services in South Africa start around R300,000 annual income while clients qualify for private banking services at around R750,000 12
Figure 6: High earning populations are over-represented in Gauteng and under-represented in the Northern Cape 13
Figure 7: Gauteng is home to the largest population of high earning individuals in South Africa, 2009 14
Figure 8: Number of high earning individuals, Eastern Cape, 2009 15
Figure 9: Number of high earning individuals, Free State, 2009 16
Figure 10: Number of high earning individuals, Gauteng, 2009 17
Figure 11: Number of high earning individuals, KwaZulu Natal, 2009 18
Figure 12: Number of high earning individuals, Limpopo, 2009 19
Figure 13: Number of high earning individuals, Mpumalanga, 2009 20
Figure 14: Number of high earning individuals, North West Province, 2009 21
Figure 15: Number of high earning individuals, Northern Cape, 2009 22
Figure 16: Number of high earning individuals, Western Cape, 2009 23
Figure 17: Holdings of more complex financial instruments like mutual funds or equities are positively linked to income level 24
Figure 18: Gauteng is home to nearly 600,000 foreign born 25
Figure 19: Europeans dominate the inpatriate population in South Africa 26
Figure 20: Most expatriate South Africans live in the UK 27
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