HNWI in Singapore Wealth Management Industry – Trends, Analysis and Forecast (2010-2015)

Report Summary

HNWIs population and wealth is growing at a very fast rate when compared to the global and Asia-pacific average. The wealth of HNWIs in Singapore is growing at 35.6%, whereas wealth of HNWIs is growing at 17.1% globally and 25.8% in APAC. The population of HNWIs is growing at 35.6% in Singapore, whereas it is growing at 18.9% globally and 30% in APAC. The growing wealth and population of HNWIs in Singapore provides a huge opportunity for wealth management companies. It is imperative for wealth management companies to know the changing needs and behavior of HNWIs in order to increase their profitability and customer base.

HNWIs in Singapore are demanding frequent personal interactions with their wealth managers. They want their managers to possess better product knowledge, be open to new ideas, and personally interact with them on a regular basis. They want them to understand their needs and the risk associated with a particular investment product. One of the major reasons why HNWIs change their wealth managers is their failure to understand the needs of clients.

The growing population of HNWIs in Singapore is providing a huge opportunity for wealth management firms to increase their revenues and customer base. The main purpose of this report is to study the changing needs and behavior of HNWIs in Singapore. It also aims to study their investing patterns and the factors, which will drive HNWIs wealth and the challenges faced by wealth management firms.

Scope of the report

Market Overview

This section discusses the market size and segmentation of the wealth management industry as a whole, and segmentation of the wealth of HNWIs in Singapore based on the way they have accumulated it, and the different asset classes and geographies in which they invest it.

Market Dynamics

This section discusses the trends related to changes in the needs and demands of HNWIs in Singapore as well as the factors that are driving wealth creation in the country. It also discusses the investments made by HNWIs in different asset classes and the challenges faced by the wealth management firms.

Trends of HNWIs in Singapore

This section discusses the varying demands of HNWIs based on their age group and the criteria they follow to choose their wealth managers. This section also discusses what asset classes are favored by HNWIs in Singapore.

Business case study

The case study discusses the measures taken by Oversea-Chinese Banking Corporation (OCBC) Bank based in Singapore, to improve customer service by streamlining its operations and save time on managing client information.

Company Profiles

This section describes companies offering wealth management services in Singapore, and includes an overview, primary business, wealth management operations in Singapore, strategies followed by them and recent developments related to wealth management operations in India

Table Of Contents

1 INTRODUCTION
1.1 Report purpose
1.2 Report catalyst
1.3 Report structure
1.4 Research objectives
1.5 Stakeholders
1.6 Research methodology
 
2 MARKET OVERVIEW
2.1 HNWI in Singapore
2.2 Wealth management products and services
2.2.1 Wealth management products
2.2.2 Wealth management services
2.3 Winning imperatives
2.3.1 Expertise in third party & in-house products
2.3.2 Effective CRM solutions
2.3.3 Clients serving model
 
3 MARKET DYNAMICS
3.1 HNWI investments allocation in different asset class
3.2 HNWI - needs and demands
3.2.1 Demands based on source of wealth
3.2.2 HNWI demand frequent interaction with financial advisors
3.2.3 APAC favorite investment destination for Singapore HNWI
3.2.4 Demand for less risky products high among HNWI
3.3 Analysis and forecast
3.3.1 Macro economic drivers
3.3.1.1 Real GDP growth rate
3.3.1.2 Household savings rate
3.3.1.3 Deposit interest rates
3.3.1.4 Domestic market capitalization
3.3.2 HNWIs wealth forecast in Singapore (2010 – 2015)  
3.3.3 Restarints and challenges for wealth management firms
3.3.3.1 Regulatory changes and rising compliance cost
3.3.3.2 Regaining client trust and confidence
3.3.3.3 Customer retention a big challenge
3.3.3.4 Stock market volatility
 
4 TRENDS OF HNWI IN SINGAPORE
4.1 Varying demands for different age group
4.2 Equities still favorite investment asset for HNWI
4.3 HNWI more dependent on financial advisor for making investment decisions
4.4 Criteria followed by HNWI to choose wealth manager
4.5 Reasons for HNWI changing their wealth manager
 
5 CASE STUDY
5.1 OCBC bank adopts oracle’s Siebel CRM solution to improve customer service and save time on managing client information
5.1.1 Objective
5.1.2 About Oversea-Chinese banking corporation limited
5.1.3 Reason for adopting the CRM solution
5.1.4 How oracle’s Siebel solution was selected
5.1.5 Solution implementation process
5.1.6 Benefits for the bank
5.1.7 Conclusion
 
6 COMPANY PROFILES
6.1 CREDIT SUISSE AG SINGAPORE
6.1.1 Overview
6.1.2 Primary business
6.1.3 Strategy
6.1.4 Developments
6.2 CIMB-GK SECURITIES PTE LTD
6.2.1 Overview
6.2.2 Primary business
6.2.3 Strategy
6.2.4 Developments
6.3 DEUTSCHE BANK
6.3.1 Overview
6.3.2 Primary business
6.3.3 Strategy
6.3.4 Developments
6.4 UBS AG SINGAPORE
6.4.1 Overview
6.4.2 Primary business
6.4.3 Strategy
6.4.4 Developments
6.5 OVERSEA-CHINESE BANKING CORPORATION LIMITED
6.5.1 Overview
6.5.2 Primary business
6.5.3 Strategy
6.5.4 Developments
6.6 BNP PARIBAS WEALTH MANAGEMENT.SINGAPORE
6.6.1 Overview
6.6.2 Primary business
6.6.3 Strategy
6.6.4 Developments
 
LIST OF FIGURES  

1 Market segmentation of households on the basis of wealth
2 Growth rate of HNWI population-world, Asia Pacific and Singapore
3 HNWI investment breakup on the basis of key asset class in 2009
4 HNWI investment allocation in 2009
5 Source of wealth accumulation by HNWI in Singapore
6 Change in HNWI demands after recession
7 Breakup of investment of Singapore HNWI in different geographies, (2009)
8 GDP growth rate, (2005 – 2015)
9 Household savings rate, (2005 – 2010)
10 Deposit interest rates, (2005 – 2010)
11 Domestic market capitalization, (2005 – 2010)
12 Forecast Of HNWI wealth, (2010 – 2015)
13 HNWI population based on age groups
14 HNWI investments in different asset classes (2007 – 2010)
15 Most Preferred parameters in making investment decision