APAC Gen Y presentation to Fund Forum sharing UHNW and HNW investor insight

2,405 views
2,302 views

Published on

Seb Dovey talks to Fund Forum Asia delegates about Gen Y investors in the Asia Pacific region, using HNW insight to explore the direction that wealth marketing will take in the future.

Published in: Business, Economy & Finance
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
2,405
On SlideShare
0
From Embeds
0
Number of Embeds
904
Actions
Shares
0
Downloads
26
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide
  • Financials – flat/ cost-incomes Markets – volatile – strong revenue from inter market activity, value chasing Revenue streams – under pressure, switch to fee-based planning, continued downward pressure on top line from 120-100bps
  • Financials – flat/ cost-incomes Markets – volatile – strong revenue from inter market activity, value chasing Revenue streams – under pressure, switch to fee-based planning, continued downward pressure on top line from 120-100bps
  • APAC Gen Y presentation to Fund Forum sharing UHNW and HNW investor insight

    1. 1. © Scorpio Partnership 2013 |1Scorpio Partnership’s Asia’s Millionaires: catering to the future customerHong Kong, April 2013CREATING A STRATEGY AROUND APAC’S WEALTHY GENERATION YIntegrating technology, relationships and financeto cater for the future customer
    2. 2. © Scorpio Partnership 2013 |2Scorpio Partnership’s Asia’s Millionaires: catering to the future customer
    3. 3. © Scorpio Partnership 2013 |3Scorpio Partnership’s Asia’s Millionaires: catering to the future customerTopics to cover1. Who are Asia’s HNWs?2. What do they want?3. How do they want it?4. Why do they want it?5. When do they want it?6. Who do they want it from – the FutureAdvisor?
    4. 4. © Scorpio Partnership 2013 |4Scorpio Partnership’s Asia’s Millionaires: catering to the future customerThe R&D edge of the world:FutureWealth, FuturePriority & FutureAdvisor
    5. 5. © Scorpio Partnership 2013 |5Scorpio Partnership’s Asia’s Millionaires: catering to the future customerMeet the APAC HNW digeratti
    6. 6. © Scorpio Partnership 2013 |6Scorpio Partnership’s Asia’s Millionaires: catering to the future customerGeneration Y? More like Generation Y-not now…The debateover whetherGen-Yconsumefinancialservicesdifferently isvigorous. Thethinking is oftenthey are a sub-set of a“normal” client.We disagree. Infact, thinkingabout Gen-Y inisolation is amistake…
    7. 7. © Scorpio Partnership 2013 |7Scorpio Partnership’s Asia’s Millionaires: catering to the future customerThe APAC client is on the move – catch them if you canAmbition:Considering your money goal, how much do you need in US dollars and how long do you think it will take youto achieve this sum?The wealthgoals of theAsia region aresimilar to thoseof the wealthyround theworld. Theywant to tripletheir wealthwithin a 10 yeartime frame.It is worthnoting this isnot biasedmuch by age…Source: Scorpio Partnership
    8. 8. © Scorpio Partnership 2013 |8Scorpio Partnership’s Asia’s Millionaires: catering to the future customerThe APAC client is not irrational in their expectationsConfidence:Do you think your wealth will increase over the next 12 months?The spotlightmay be on Asiaas the engineroom for globalgrowth.But, in Asia, thewealthy arelooking at theglobal situationandrecalibratingtheirexpectations.The role of theadvisor iskey…Source: Scorpio Partnership
    9. 9. © Scorpio Partnership 2013 |9Scorpio Partnership’s Asia’s Millionaires: catering to the future customerTheir future plan for investmentsVehicles:In which of the following asset classes would you like to have investments in within the next five yearsSource: Scorpio Partnership, Sungard
    10. 10. © Scorpio Partnership 2013 |10Scorpio Partnership’s Asia’s Millionaires: catering to the future customerTheir future behaviours for investingWealth management in Asia in 5 years:How much more do you expect to do the following in 5 years’ time?In general,APAC’s HNWsexpect theinternet willbecome moresignificantinfluence. Aswill financialadvice…Source: Scorpio Partnership
    11. 11. © Scorpio Partnership 2013 |11Scorpio Partnership’s Asia’s Millionaires: catering to the future customerTheir preferred future investment fund advice channelsWealth management in Asia in 5 years:Who will you turn to as your primary decision making support for wealth matters in 5 years’ time?Source: Scorpio Partnership, Sungard
    12. 12. © Scorpio Partnership 2013 |12Scorpio Partnership’s Asia’s Millionaires: catering to the future customerUnderstanding the behaviour patterns ofthe APAC digeratti
    13. 13. © Scorpio Partnership 2013 |13Scorpio Partnership’s Asia’s Millionaires: catering to the future customerThe purpose of wealth managers to APAC’s wealth clientsWealth managementclearly has a role forwealthy people. InAPAC, the trend istoward the wealthmanagement firmbeing a centre ofinformation,knowledge andaccess AS WELL ASbasic marketexecution?Access to specific markets investments and markets: 49%Lack of knowledge: 35%Lack of time: 25%Preference to delegate: 22%Disinterest ininvestments: 8%Other:2%APAC HNW clients are using their financial advisors for:Source: Scorpio Partnership, Sungard
    14. 14. © Scorpio Partnership 2013 |14Scorpio Partnership’s Asia’s Millionaires: catering to the future customerGetting to the heart of their wealth is through the digit(al)91% 85% 85%57% 42% 40% 23%The mostestablishedmicro-processinggear – the laptopand desktopcomputersremain the mostimportant forAsian HNWswhen conductingfinancialtransactions buttheir bags arebrimming withdigital kit … .Source: Scorpio Partnership, Sungard
    15. 15. © Scorpio Partnership 2013 |15Scorpio Partnership’s Asia’s Millionaires: catering to the future customerThe access to finance through apps are substantial80%83%75% 79%68%72% 74%77%62%73%54% 52%44%51%47%44%64%48%25%84%50%36%42%38%58%20% 22%12%16%2%70%50%53%38%28% 28% 16%23%0%20%40%60%80%100%China Hong Kong Indonesia Philippines Singapore% respondentsSocial networkingNewsBankingMusicMaps/ NavigationGamesWeatherVideo/ MoviesShopping/ RetailTravelInvestmentsEducation/ LearningLifestyle/ HobbiesDining/ RestaurantHealthSportsHouseholdPortfoliomonitoringI don’t useanyappsUsage of apps in Asia:Which of the following do you use apps for to enable your activities online?APAC HNWs uptake of apps forwealth management is TWICEthat of America or EuropeSource: Scorpio Partnership, Sungard
    16. 16. © Scorpio Partnership 2013 |16Scorpio Partnership’s Asia’s Millionaires: catering to the future customerThe activity online increases not decreases with fortunesChina HNWs topthe charts foruse of digital forbanking andinvestments. HKand Philippinesare close 2nd…Source: Scorpio Partnership, Sungard
    17. 17. © Scorpio Partnership 2013 |17Scorpio Partnership’s Asia’s Millionaires: catering to the future customerThe wealth digeratti lead the way globally in terms of techno-talkChannels of dialogue with the wealth advisorOver the next few years do you expect to be using these communications more or less or the same when interacting with your financial providerSource: Scorpio Partnership
    18. 18. © Scorpio Partnership 2013 |18Scorpio Partnership’s Asia’s Millionaires: catering to the future customerTheir needs are also very clear and technology enables them/usThe purpose of online for wealthWith reference to your personal finances, when it comes to your devices, in five years how much do you expect to use them for the following:The digitalgateway is partof the futurewealth advicemodel forAPAC’s HNWs.Wealthmanagers areadapting, butperhaps notquick enough …Source: Scorpio Partnership
    19. 19. © Scorpio Partnership 2013 |19Scorpio Partnership’s Asia’s Millionaires: catering to the future customerCan APAC wealth managementadapt to the technology?
    20. 20. © Scorpio Partnership 2013 |20Scorpio Partnership’s Asia’s Millionaires: catering to the future customerIn terms of hitting the value notes so far so good in Asia, but is it?The value of the industryHow would you rate the industry in terms of value for money today??Source: Scorpio Partnership, Sungard
    21. 21. © Scorpio Partnership 2013 |21Scorpio Partnership’s Asia’s Millionaires: catering to the future customerThe advisors are stretched in terms of demands on their abilitiesExpectations upon the APAC wealth advisorIn your opinion, what do your private clients value from providers of wealth management services?Source: Scorpio Partnership, Sungard
    22. 22. © Scorpio Partnership 2013 |22Scorpio Partnership’s Asia’s Millionaires: catering to the future customerAligning the future wow factors in wealth is now the challengeTop influences when selecting a wealth management in AsiaWhat are the main influences in making a decision to choose a wealth manager?Client responseAdvisor responseSource: Scorpio Partnership, Sungard
    23. 23. © Scorpio Partnership 2013 |23Scorpio Partnership’s Asia’s Millionaires: catering to the future customerThe advisors are hunting for new business and classic pools are dryAnsweringemails(5.1 hours)Clientmeetings(4.9 hours)Looking fornew clients(4.7 hours)Phoningclients(4.2 hours)Researchon markets(4.3 hours)Non-clientmeetings(3.7 hours)Compliancepaperwork(3.5 hours)Generalpaperwork(3.4 hours)Clientreporting(3.1 hours)Training(2.2hours)Time management of the wealth advisorHow are you allocating your time in an average 40 hour week on these activities?China RMmanage anaverage of 118clients while inSingapore it is 75per RM. All RMsfeel stretched interms of clientservice deliverySource: Scorpio Partnership, Sungard
    24. 24. © Scorpio Partnership 2013 |24Scorpio Partnership’s Asia’s Millionaires: catering to the future customerThe advisors are aware they can let the clicks do the talkingThe rise of the technology elements for an APAC wealth advisorWhich of the following devices do you think you will use MOST within five years to help you carry out the following activities?Source: Scorpio Partnership, Sungard
    25. 25. © Scorpio Partnership 2013 |25Scorpio Partnership’s Asia’s Millionaires: catering to the future customerBut wealth management firms digital surfboard needs some R&DThe challenges of the technology elements for an APAC business modelDo you feel your main financial provider delivers appropriate technology to do the following?Source: Scorpio Partnership
    26. 26. © Scorpio Partnership 2013 |26Scorpio Partnership’s Asia’s Millionaires: catering to the future customerWhile the wealth world is shifting on the engagement wave lengthThe changing face of digital interactionWhat qualities would you LIKE TO SEE in your main financial providers use of technologyDigital WealthManagement nowDigital WealthManagement futureSource: Scorpio Partnership
    27. 27. © Scorpio Partnership 2013 |27Scorpio Partnership’s Asia’s Millionaires: catering to the future customerThinking about the Asia HNW client revolution
    28. 28. © Scorpio Partnership 2013 |28Scorpio Partnership’s Asia’s Millionaires: catering to the future customerConclusions: so why should we care?1. Who are Asia’s HNWs?2. What do they want?3. How do they want it?4. Why do they want it?5. When do they want it?6. Who do they want it from?1. An attractive global clientele2. Sustained wealth creation3. Efficiently and locally4. Ambition and preservation5. Within a decade6. Wealth managers have a role
    29. 29. © Scorpio Partnership 2013 |29Scorpio Partnership’s Asia’s Millionaires: catering to the future customerQuestions – was it worth it for you?
    30. 30. © Scorpio Partnership 2013 |30Scorpio Partnership’s Asia’s Millionaires: catering to the future customerThe R&D edge of the world: biggish data
    31. 31. © Scorpio Partnership 2013 |31Scorpio Partnership’s Asia’s Millionaires: catering to the future customer@whatwealthneeds http://on.fb.me/11o5VD2http://linkd.in/ZSdor7Come and say hello, we’d love to meet you via…
    32. 32. © Scorpio Partnership 2013 |32Scorpio Partnership’s Asia’s Millionaires: catering to the future customerScorpio Partnership is the leading consumer insight and strategy consultancy to the global wealth industry. Wespecialize in understanding and researching a cross section of wealthy clients, turning financial research into actionableconsumer insight to stimulate UHNW client engagement.Scorpio partnership has been voted best global consultancy to the wealth management industry for three consecutiveyears (2007-2009), runner up for Agency of the Year two years in succession (2010-11) and was the 2012 runner upfor the Judges Award for financial services insight. The firm is currently in the final shortlist for the 2013 ThoughtLeadership of the Year in Asia.The firm is independent and owned by managed.You can find our other reports, UHNW consumer insight and HNW financial research in the Knowledge bank of ourwebsite: http://www.scorpiopartnership.com/knowledge.php

    ×