Introduction
- This report examines the opportunities for wealth managers looking to
attract the owners of small and medium sized businesses. Research by
Datamonitor has shown that corporate banks in Australia, Hong Kong,
Singapore and South Korea are under-serving their SME clients. This report
asks whether this opens up an opportunity that wealth managers can grab.
Scope of this report
- Looks at the financial needs of businesses and their owners and examines
ways in which wealth managers and business banking teams can work together.
- Sizes the SME and HNW markets in Australia, Hong Kong, Singapore and South
Korea.
- Provides action points for wealth managers and SME banks looking to
attract and retain businesses and their owners.
Research and analysis highlights
- There is an enormous opportunity in the market. Not only for wealth
managers to take on the role of advisor to the business owner, but for SME
banks to take an initiative and ramp up their value-added services and
advisory capability.
- By comparison with the number of SMEs, the HNW market is small. For
example, South Korea the largest SME market of the four countries in this
study is home to 2.9 million small and medium sized enterprises.
- In the market there are very few targeted offerings from wealth managers
to business owners and this gap can be exploited by proactive players. If
SME banks, private banks and wealth managers target niches now then they
have time to build up a reputation their chosen segments and will be well
placed when this type of servicing becomes the norm.
Key reasons to read this report
- Find out how big the markets are and what your potential share is or could
be
- Find out how big the gaps are and what the opportunities for growth will
be going forward
- Find out who is competing in the markets, what they are doing well and
what innovative players are doing in overseas markets to attract these
clients
INTRODUCTION
- Who is the target reader?
- Research methodology
WHY TARGET BUSINESS OWNERS?
- Financial needs
- Personal versus business needs
- Capital requirements
- Pensions and investments
- Insurance business
- Tax issues
- The transition process
- Market Size
- Number of companies
- Outstanding deposits and loans
- Other targets
MEANS OF ATTRACTION
- Internal referrals
- Partnerships and JVs
- Product or service pushes
- National Australia Bank
- RBS Mentor Services
- Coutts Asset Reserve
- Fiducian
- Sponsorship
- Community ties
ACTION POINTS
- Step lightly on each others toes
- Fostering referral
- Valuable visibility
- Pertinent partnerships
- Offering value-add
- Proactively seeking clients
- Business relations
APPENDIX
- Data
- The Global Wealth Model
- The UK sub model
- Asia-Pacific sub model
- Forecasting methodology
- Datamonitors wealth numbers compared with others numbers
- Datamonitors SME Model
- Bespoke Wealth Market Sizing
- Further reading
- Wealth Management in Asia-Pacific SPP: Reports
- Wealth Management in Asia-Pacific SPP: Insight Reports
- Wealth Management in Asia-Pacific SPP: Competitor Tracking
- Datamonitor Financial Services Consulting
- Asia-Pacific contacts
- List of Tables
- Table 1: Number of SMEs and HNWIs in Australia, Hong Kong, Singapore
and South Korea, 2003
- Table 2: Total SME deposits and loans outstanding in Australia, Hong
Kong, Singapore and South Korea, 2003
- Table 3: HNW liquid assets in Australia, Hong Kong, Singapore and
South Korea, 2003
- Table 4: Wealth markets that have been modeled using the Global Wealth
Model
- List of Figures
- Figure 1: Methodology diagram and report structure
- Figure 2: A client can with multiple relationships with the bank which
could cause problems of internal conflict between business units as well
as problems for the client
- Figure 3: There are many more SMEs than HNW individuals in Australia,
Hong Kong, Singapore and South Korea
- Figure 4: Loans outstanding to SMEs consistently amount to more than
two thirds of deposits, indicating that not all SME owners would be
appropriate targets to wealth managers
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