HNW Targeting and Retention Strategies 2018 Latest Study

High-net-worth individual (HNWI) is a term used by some segments of the financial services industry to designate persons whose investible assets exceed a given amount. Typically, these individuals are defined as holding financial assets with a value greater than US$1 million.

"HNW Targeting and Retention Strategies", report analyzes and sizes key segments of the global HNW market, and provides detailed recommendations how to best target and service these individuals. The report also provides a detailed discussion on the effectiveness of different HNW client retention strategies. It is based on our proprietary Global Wealth Managers Survey.

48% of HNW individuals are professionals, making them the largest target market, closely followed by entrepreneurs at 46%. While considerably smaller in size, providers will also find HNW expats an attractive segment thanks to their more complex affairs resulting in a greater need for wealth management services. Despite the above segments’ differing service requirements, we see very little difference when it comes to providers’ targeting strategies. While client referrals are the most successful means of acquisition, wealth managers should adopt a more differentiated approach. Providers targeting professionals will find external referrals an effective channel, while investment banking referrals will prove fruitful in the entrepreneur space.

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Scope:

- 52.3% of global HNW investors reside in North America, but growth is more pronounced in Latin America, where the number of HNW individuals is forecast to grow by 48% between 2017 and 2021.
- Professionals make up 5 million individuals of the global HNW market, 4.8 million being entrepreneurs.
- 28.3% of HNW clients have been acquired through client referrals, making it the most successful channel.
- A longstanding advisor relationship is the most effective means of client retention, followed by portfolio performance and a firm’s brand image.

Specifically the report -

- analyzes the size of the global HNW market and key client groups
- analyzes the proportion of HNW clients sourced via different client acquisition tools
- provides recommendations regarding the effectiveness of various acquisition tools across different target segments
- analyzes how to best service different HNW segments
- analyzes the effectiveness of different client retention strategies in the HNW space.

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Reasons to buy:

- Understand the size and service requirements of key client groups
- Develop and enhance your client targeting strategies using our proprietary data on the effectiveness of various targeting strategies across key target groups
- Minimize customer churn rates by gaining a detailed understanding of the effectiveness of different retention tools
- Tailor your product portfolio to match demand patterns across the different segments discussed
- Understand what selected competitors are doing to successfully reach out to different target groups.

Companies Mentioned:

US Bank
DBS
BNP Paribas
Optymyze
CBA
Deutsche Bank
Morgan Stanley
ICBC
China Construction Bank
Bank of China
Agricultural Bank of China
Wells Fargo
China Merchants Bank
Aldermore

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