資産運用における顧客価値の測定

Overview

Introduction

This thought leadership report presents a framework for the consideration of a wealth manager's customer base. It seeks to identify the key drivers and indicators of value within a customer base as a mean of helping wealth managers and private banks to identify the customer groups that have the potential to drive revenues and profits.

Scope

• Presents a customer value framework for the wealth management industry as developed by Datamonitor's Global Wealth Service team.
• Highlights a range of potential segmentation strategies for consideration by wealth managers.
• Contrasts four different wealth management business models based on a customer value assessment.
• An issue-based blue-sky piece of analysis applicable to all global wealth management markets.

Report Highlights

Wealth managers have long recognized that certain clients are more valuable than others, normally based around very important but somewhat simplistic measures such as the value of their assets. However, the concept has rarely been extended to a more comprehensive assessment of customer value and its financial and strategic significance

Wealth managers commit substantial resources to acquiring, servicing and retaining their clients. This makes it critical for them to appreciate which clients represent the most value to them such that they can align service efforts and distribute costs appropriately.

Wealth managers must move away from defining acceptable clients based upon an arbitrary threshold level of investment assets. Instead a more complex set of criteria should be adopted, that reflects the fact that clients with large outstanding liabilities or income, for example, may be of equal/more value than those with large asset holdings.

Reasons to Purchase

• Provides key insights into the determinants of the value of a customer's relationship with a wealth manager.
• Utilises a customer value analysis to identify the opportunities, threats and critical success factors for four different business models
• Identifies a range of key strategic considerations and actions for wealth managers to improve business profitability.

TABLE OF CONTENTS

BUILDING A CUSTOMER VALUE FRAMEWORK

• Introduction
• Definition and concept
• Why assess customer value?
• Framework overview
• Identifying valuable customers
• Value measures
• Developing a dynamic perspective
• Value-based segmentation
• Dream accounts
• Cash-cow accounts
• Strategic Growth accounts
• Problem accounts

BUSINESS MODELS AND CUSTOMER VALUE

• Overview
• Business model assumptions
• Investment-focused mass affluent model
• HNW Investment Specialist
• Full-service HNW Private Bank
• Universal wealth management proposition
• Contrasting business models
• Dissecting the customer value scores for each business model
• The value ceiling for an investment-focused mass affluent model is too low
• HNW Investment Specialists must be as their name implies
• Full-service HNW Private Banks: strong revenue potential must not be undermined by higher costs
• Universal wealth proposition must achieve clear differentiation

STRATEGIC CONSIDERATIONS AND ACTIONS

• Wealth managers should examine the customer value characteristics of their business
• Maximise value and align resources for the existing customer base
• Adjust the target market and secure greater customer value from new clients
• Introduce new products designed to achieve specific improvements in customer value
• Conclusions

APPENDIX

• Research methodology
• Further reading
• Datamonitor Global Wealth Service SPP: Market Reports
• Datamonitor Global Wealth Service SPP: Insight Reports
• Related Datamonitor Savings & Investments SPP Reports
• Datamonitor's Global Wealth Model
• SPP writing team

List of Tables

• Table 1: Results of the customer value assessment for the different wealth management business models
• Table 2: Countries that have been modeled using Datamonitor's Global Wealth Model

List of Figures

• Figure 1: The nature of the customer base is one key restriction on revenue growth for the business
• Figure 2: Presenting a customer value framework for wealth managers
• Figure 3: Datamonitor's Portfolio of Clients Framework
• Figure 4: Applying a customer value framework to a business model
• Figure 5: Customer base assumptions for the Investment-focused Mass Affluent model
• Figure 6: Customer base assumptions for the HNW Investment Specialist model
• Figure 7: Customer base assumptions for the Full-service HNW Private Bank model
• Figure 8: Customer base assumptions for the Universal Wealth Management model
• Figure 9: The full-service HNW private bank business model scores most highly in terms of customer value
• Figure 10: Contrasting how different business models score across the different customer value-dimensions of the framework