Wealth in Singapore: HNW Investors 2017

2017-06-30
Price :
Published : Jun-2017
No. of Pages : 51

Singapore’s HNW population remains dominated by business owners and those who accumulated their wealth through earned income. HNW individuals invest around half of managed wealth with their main wealth manager, and the majority of wealth is held via discretionary mandates. Current investment demand is particularly pronounced for equities and corporate bonds; however, the latter are forecast to fall out of favor as investors are looking for new means of diversification in the alternative investment universe. Led by pension and financial planning, overall demand for planning services is moderate. However, going forward we expect increased demand for tax planning.

Singaporean HNW individuals have amassed their wealth mainly through earned income. However, taken together those who earned their wealth either through first-generation entrepreneurship or family business ownership constitute the largest segment. The most prominent industries from which HNW individuals have amassed wealth are property and financial services. Dedicated expat services are a necessity because Singapore’s HNW expat population represents a larger opportunity compared to the rest of Asia Pacific. Also important is that government incentives still make Singapore an enticing hub for wealthy expatriate investors.

Key Findings include in this report –

  • Expats constitute half of Singapore’s HNW population, hence constituting a lucrative target market.
  • Accelerated demand for discretionary mandates will be the pre-eminent trend over the coming year.
  • The average Singaporean HNW portfolio is biased towards equity and bond investments, with demand for the latter expected to fall as we are seeing a move into risk assets.
  • An above-average proportion of Singaporean HNW wealth is allocated to alternative investments – the majority of which is held in hedge funds. Alternatives should gain further traction.
  • Singaporean HNW investors currently show the strongest demand for financial planning, but demand for tax advice is forecast to experience the strongest rise in demand over the coming two years.

Critical success factors

  • Capitalize on expats: The Singaporean expat market is large and diverse enough to warrant dedicated country teams that increasingly serve Asian-origin clients rather than Europeans or Americans.
  • Develop your discretionary asset management proposition: Singaporean wealth managers need to ensure that saving time and effort (while still being attentive and trustworthy) is a core part of any discretionary service proposition.
  • Offer tax advice: The ever-increasing complexity of the global tax landscape is driving demand for tax advice globally and Singapore is no exception, given the highly international nature of the city-state’s HNW community, which forces investors to navigate through different jurisdictions’ tax systems.

The report “Wealth in Singapore: HNW Investors 2017” analyzes the investing preferences and portfolio allocation of Singaporean HNW investors. The report is based on our proprietary Global Wealth Managers Survey.

Specifically, this report allows the following –

  • Profiles the average Singaporean HNW investor in terms of their demographics and analyzes the expat opportunity in Singapore.
  • Analyzes which wealth management mandates are preferred among Singaporean HNW investors and how demand will develop looking forward.
  • Examines the allocation of Singaporean HNW investors’ portfolios into different asset classes and how the allocation is expected to develop in the future.
  • Analyzes the product and service demand among Singaporean HNW investors.

Companies mentioned in this report: Standard Chartered Private Bank, HSBC, Citibank, DBS, OCBC, Bank of Singapore and Vontobel.

Scope

  • Expats constitute half of Singapore’s HNW population, hence constituting a lucrative target market.
  • Accelerated demand for discretionary mandates will be the pre-eminent trend over the coming year.
  • The average Singaporean HNW portfolio is biased towards equity and bond investments, with demand for the latter expected to fall as we are seeing a move into risk assets.
  • An above-average proportion of Singaporean HNW wealth is allocated to alternative investments – the majority of which is held in hedge funds. Alternatives should gain further traction.
  • Singaporean HNW investors currently show the strongest demand for financial planning, but demand for tax advice is forecast to experience the strongest rise in demand over the coming two years.

Reasons to buy

  • Develop and enhance your client targeting strategies using our data on HNW profiles and source of wealth.
  • Give your marketing strategies the edge required and capture new clients using insights from our data on HNW investors’ drivers for seeking investment advice vs self-directing.
  • Tailor your investment product portfolio to match the current and future demand for different asset classes among HNW individuals.
  • Develop your service proposition to match the service and product demand expressed by Singaporean HNW investors and react proactively to the forecasted change in demand.
Filed in: Banking & Finance, Wealth Management
Publisher : GlobalData
More Reports
Title Price Buy Now

Competitor Profile: Scalable Capital

Competitor Profile: Scalable Capital Summary Scalable Capital is a digital investment management firm. It creates and manages globally diversified ETF portfolios for its clients to help them achieve their long-term financial goals, supported by proprietary risk management technology. Scalable Capital is available in four countries: Germany, the UK, Austria, and Switzerland. The report provides information and insight into Scalable Capital, including - - Its business and geographical presence. - Comprehensive coverage of its products and services. - A comparison against key competitors. - Information on its revenue model and market potential. - Important events and milestones. Scope - In 2016, Scalable Capital launched in Germany, the UK, and Austria. - In March 2017, Scalable Capital ......
$350

Competitor Profile: Tandem

Competitor Profile: Tandem Summary Tandem is a provider of mobile retail banking services. Its banking app enables customers to see all their financial information in an intuitive and engaging way. It currently offers a cashback Mastercard credit card, a Mastercard credit card for people with limited credit histories, and a range of fixed-term savings accounts. This report provides information and insights into Tandem, including - - Detailed insight into its business and geographical presence. - Comprehensive coverage of its products and services. - Comparative assessment with key competitors. - Information on its performance, including its revenue model. - The company's important events and milestones. Scope - In November 2015, Tandem was launched in the UK. - In August 2017, Tandem ......
$350

UK Insurance Aggregators 2019

UK Insurance Aggregators 2019 Summary "UK Insurance Aggregators 2019", report explores the ever-changing consumer purchasing behavior through price comparison sites. It identifies what is most influential to customers when selecting a policy through this channel and reveals the brand strategies of the four leading sites. Their distinct approaches to advertising are also highlighted, as well as the key factors that will influence the market over the coming years, including regulation and new technology. The percentage of consumers conducting research on price comparison websites at renewal increased in the motor and pet lines, while home and travel insurance saw declines. Motor insurance, the biggest market for aggregators, posted a rise of 4.5 percentage points. This trend was replicate......
$3450

Targeting Millennials in Financial Services

Targeting Millennials in Financial Services Summary "Targeting Millennials in Financial Services", report explores the attitudes and behaviors millennials have with regards to their financial services, using our extensive surveying of consumers in 20 key banking markets around the world. It identifies those aspects of the customer experience that financial services providers need to address to effectively engage with millennials and highlights successful providers, products, services, and campaigns. Best practice examples and studies presented are drawn from around the world and across the economy, encompassing banks, insurers, investment managers, consumer brands, and retailers. In the last two decades, millennials have matured in terms of their size, economic strength, and socio-cultu......
$5250

Strategic Market Intelligence: Insurance Industry in Ghana – Key Trends and Opportunities to 2022

Strategic Market Intelligence: Insurance Industry in Ghana - Key Trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: Insurance Industry in Ghana - Key Trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the Ghanaian insurance industry. GlobalData's 'Strategic Market Intelligence: Insurance Industry in Ghana - Key Trends and Opportunities to 2022' report provides a detailed outlook by product category for the Ghanaian insurance industry. It provides values for key performance indicators such as written premium, density and during the review period (2013-2017) and forecast period (2017-2022). The report gives a comprehensive overview of the Ghanaian economy and demographics, and provides detailed inform......
$995

Strategic Market Intelligence: Life Insurance in Kenya – Key trends and Opportunities to 2022

Strategic Market Intelligence: Life Insurance in Kenya - Key trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: Life Insurance in Kenya - Key Trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the Kenyan life insurance segment. GlobalData's 'Strategic Market Intelligence: Life Insurance in Kenya - Key Trends and Opportunities to 2022' report provides a detailed outlook by product category for the Kenyan life insurance segment. It provides values for key performance indicators such as written premium, claims paid, life insurance penetration, total assets, and total investment income during the review period (2013-2017) and forecast period (2017-2022). The report also analyzes distribution channels op......
$3999

Strategic Market Intelligence: General Insurance in Kenya – Key trends and Opportunities to 2022

Strategic Market Intelligence: General Insurance in Kenya - Key trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: General Insurance in Kenya - Key trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the the Kenyan general insurance segment. GlobalData's 'Strategic Market Intelligence: General Insurance in Kenya - Key trends and Opportunities to 2022' report provides a detailed outlook by product category for the Kenyan general insurance segment. It provides values for key performance indicators such as written premium, claims ratio and general insurance penetration during the review period (2013-2017) and forecast period (2017-2022). The report also analyzes distribution channels operating in the se......
$3999

Strategic Market Intelligence: Life Insurance in Vietnam – Key trends and Opportunities to 2022

Strategic Market Intelligence: Life Insurance in Vietnam - Key trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: Life Insurance in Vietnam - Key Trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the Vietnamese life insurance segment. GlobalData's 'Strategic Market Intelligence: Life Insurance in Vietnam - Key Trends and Opportunities to 2022' report provides a detailed outlook by product category for the Vietnamese life insurance segment. It provides values for key performance indicators such as written premium, gross claims, life insurance penetration, total assets and total investment income during the review period (2013-2017) and forecast period (2017-2022). The report also analyzes distributi......
$3999

Strategic Market Intelligence: Reinsurance in Kenya – Key trends and Opportunities to 2022

Strategic Market Intelligence: Reinsurance in Kenya - Key trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: Reinsurance in Kenya - Key Trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the Kenyan reinsurance segment. GlobalData's 'Strategic Market Intelligence: Reinsurance in Kenya - Key trends and opportunities to 2022' report provides a detailed outlook by product category for the Kenyan reinsurance segment. It provides values for key performance indicators such as premium accepted, premium ceded and cession rates, during the review period (2013-2017) and forecast period (2017-2022). The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Ke......
$3999

Strategic Market Intelligence: General Insurance in Vietnam – Key trends and Opportunities to 2022

Strategic Market Intelligence: General Insurance in Vietnam - Key trends and Opportunities to 2022 Summary GlobalData's 'Strategic Market Intelligence: General Insurance in Vietnam - Key trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the the Vietnamese general insurance segment. GlobalData's 'Strategic Market Intelligence: General Insurance in Vietnam - Key trends and Opportunities to 2022' report provides a detailed outlook by product category for the Vietnamese general insurance segment. It provides values for key performance indicators such as written premium, claims ratio and general insurance penetration during the review period (2013-2017) and forecast period (2017-2022). The report also analyzes distribution channels opera......
$3999
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy