Three quarters of affluent UK consumers are saving for retirement, making pension products an important strategy for wealth management firms. The wealth management industry is expected to grow its revenues by 19% over the next five years as the UK economic recovery continues. Most affluent consumers invest in a range of products and make their own investment decisions, with retirement being their top saving and investment goal.

1. Affluent Investing - UK - November 2013
Three quarters of affluent consumers are saving for their retirement, which is a much higher proportion than
across the wider population. For wealth management firms, promoting SIPPPs and other pension products
should be an important strategy in a bid to capitalise on the demand for retirement savings – and thus
capture potential clients.
table Of Content
introduction
report Scope And Definitions
abbreviations
key Sources
executive Summary
the Market
industry Revenues Expected To Grow In 2013 And Following Five Years
figure 1: Forecast Of Wealth Management Industry Revenues – Fan Chart, 2008-18
segment Performance
discretionary Management Leads The Way
figure 2: Investment Assets Held By Wealth Managers, By Mandate Type, 2008-12
portfolio Composition
market Factors
economic Recovery Finally Getting Underway
ftse 100 Performing Well
the Fca Announced A Supervision Model For The Wealth Management Industry
impact Of The Rdr
companies, Brands And Innovation
coutts Overtake Barclays To Take Top Spot
adspend On Wealth Management Products And Services Down By 8% In 2012/13
the Consumer
investment Portfolio
figure 3: Saving And Investment Product Ownership, August 2013
saving And Investing Goals
figure 4: Saving And Investment Goals, August 2013
investment Decisions
figure 5: Investment Management And Decision Making, August 2013
sources Of Financial Advice
Affluent Investing - UK - November 2013

2. figure 6: Sources Of Advice When Taking Out An Investment Product, August 2013
awareness Of Rdr Changes
figure 7: Consumer Awareness Of Rdr Changes, August 2013
what We Think
issues In The Market
how Is The Rdr Affecting The Wealth Management Industry?
what Drives Saving And Investing Activity Among Affluent Consumers?
how Can Firms Target The Affluent Consumers Of The Future?
could Advertising Play A Bigger Role In The Wealth Management Sector?
trend Application
rising To The Top
short-term Pain For Long-term Gain
mintel Futures: Old Gold
market Drivers
key Points
market Indices Performing Well In 2013
figure 8: Ftse 100 And Ftse All-share – Daily Index Movements, January 2005-august 2013
market Capitalisation Up By 15% In 2012
figure 9: Market Capitalisation Of Global Stock Exchanges, By Region, 2009-13
uk Economy Showing Signs Of Recovery
figure 10: Uk Quarterly Gdp Growth, Q1 2006-q3 2013
consumer Confidence Continues To Grow
figure 11: Uk Consumer Confidence, January 1989-october 2013
rdr Already Having An Impact In The Wealth Management Arena
wealth Managers And Private Banks Come Under The Eye Of The Fca
basel Iii Brings New Capital Requirements
mifid Ii And Resolution Of Potential Conflict With The Rdr
swot Analysis
figure 12: Wealth Management Market – Swot Analysis, 2013
who’s Innovating?
key Points
finding The Right Wealth Manager For Your Personal Needs
barclays Continues To Develop Its Execution Platform For Wealth Managers
Affluent Investing - UK - November 2013

3. little Book Of Wonders Launched For Hnw Clients
developments For Hnw Clients
market Size And Forecast
key Points
wealth Management Market Continues To Grow
figure 13: Size Of The Uk Wealth Management Sector, By Number Of Clients, Value Of Assets And Total
Revenues, 2008-12
net New Assets Down In 2012
figure 14: Investment Asset Growth And Net New Business For Wealth Managers, 2009-12
market Forecast
industry Revenues Expected To Increase 19% Over The Next Five Years
figure 15: Forecast Of Wealth Management Industry Revenues – Fan Chart, 2008-18
figure 16: Forecast Of Wealth Management Industry Revenues, At Current And Constant Prices, 2008-18
forecast Methodology
fan Chart Explanation
segment Performance
key Points
wealth Management Firms Grow Assets And Number Of Accounts
figure 17: Number Of Accounts And The Value Of Assets Managed, By Type Of Firm, 2009-12
share Of Total Revenues Remains Unchanged In 2012
figure 18: Total Wealth Management Industry Revenues, By Type Of Firm, 2009-12
commission Earning Declined In 2012
figure 19: Proportional Distribution Of Revenue Streams, By Type Of Firm, 2011 And 2012
costs As A Proportion Of Revenues Fall For Wealth Management Firms
figure 20: Operational Costs As A Proportion Of Revenue, By Type Of Firm, 2009-12
profitability Among Wealth Management Firms Up In 2012
figure 21: Profit Margin, By Type Of Firm, 2009-12
portfolio Composition
key Points
number Of Client Accounts Up By 5% In 2012
figure 22: Number Of Wealth Manager Accounts/portfolios, By Value Band (nominee Accounts Only), 2012
asset Allocations Remains Relatively Unchanged In 2012
figure 23: Proportional Distribution Of Assets, By Type Of Asset Class, 2008-12
taxable Holdings Remain The Most Widely Held Asset Type
figure 24: Proportional Distribution Of Assets, By Ownership, 2012
Affluent Investing - UK - November 2013

4. market Share
key Points
coutts And Barclays Account For Over 20% Of Assets Under Management
figure 25: Largest 15 Wealth Managers, By Assets Under Management And Number Of Client Accounts
– Uk, 2011 And 2012
companies And Products
coutts & Co
figure 26: Rbs Group’s Wealth Division – Key Interim Data, H1 2012 And H1 2013
figure 27: Rbs Group’s Wealth Division – Key Financial Data, 2011 And 2012
barclays Wealth And Investment Management
figure 28: Key Interim Financial Data For Barclays Wealth And Investment Management, H1 2012 And H1
2013
figure 29: Barclays Wealth – Key Financial Data, 2011 And 2012
st. James’s Place Wealth Management
figure 30: St James’s Place Wealth Management – Key Interim Data, H1 2012 And H1 2013
figure 31: St James’s Place Wealth Management – Key Annual Data, 2011 And 2012
ubs Wealth Management
figure 32: Ubs Wealth Management Division (europe And Asia) – Key Interim Data, H1 2012 And H1
2013
figure 33: Ubs Wealth Management Division (europe And Asia) – Key Annual Data, 2011 And 2012
brewin Dolphin
figure 34: Brewin Dolphin – Key Interim Data, H1 2012 And H1 2013
hargreaves Lansdown
figure 35: Hargreaves Lansdown – Key Annual Data, 2012 And 2013
hsbc Private Bank
figure 36: Hsbc Private Bank – Key Interim Data, H1 2012 And H1 2013
figure 37: Hsbc Private Bank – Key Annual Data, 2011 And 2012
brand Communication And Promotion
key Points
advertising On Wealth Management Services And Products Is Relatively Small
figure 38: Total Advertising Expenditure On Wealth Management And Other Related Products And Services,
2010/11-2012/13
figure 39: Top Ten Advertisers Of Wealth Management Products And Services, 2010/11-2012/13
press And Outdoor Media Lead The Way In The Wealth Management Sector
figure 40: Proportional Distribution Of Adspend On Wealth Management, By Media Type, 2010/11-2012/13
a Note About Adspend
channels To Market
Affluent Investing - UK - November 2013

5. key Points
over 50% Of Accounts Are Under Discretionary Management…
figure 41: Number Of Client Accounts/portfolios, By Mandate Type, 2008-12
discretionary Management Accounts For An Even Higher Percentage Of Aum
figure 42: Investment Assets Held By Wealth Managers, By Mandate Type, 2008-12
revenue Returns Continue To Seesaw
figure 43: Revenue Return On Discretionary And Advisory Assets, 2007-12
segmentation Of Investable Assets
key Points
survey Coverage
wealth Tiers Among Affluent Consumers
figure 44: Segmentation Of The Affluent Market, By Value Of Investable Assets, August 2013
growing Personal Wealth Over Time
figure 45: Segmentation Of The Affluent Market, By Value Of Investable Assets, August 2013
meeting The Investable Assets Criterion
figure 46: Segmentation Of The Affluent Market, By Value Of Investable Assets, August 2013
inheriting The Next Generation Of Affluent And Hnw Consumers
figure 47: Segmentation Of The Affluent Market, By Value Of Investable Assets, August 2013
investment Portfolio
key Points
affluent Clients Tend To Save/invest In A Range Of Products
figure 48: Saving And Investment Product Ownership, August 2013
a Quarter Of Affluent Consumers Invest In Property
affluent And Hnw Clients Have Fingers In Many Pies
figure 49: Saving And Investment Product Ownership, By Segmentation Of The Affluent Market, August
2013
saving And Investing Goals
key Points
retirement Is The Number One Financial Priority
figure 50: Saving And Investment Goals, August 2013
circumstances Dictate Saving And Investment Goals
affluent And Hnw Clients Most Likely To Save/invest For Tax Mitigation And Inheritance Planning
figure 51: Saving And Investment Goals, By Segmentation Of The Affluent Market, August 2013
investment Decisions
key Points
Affluent Investing - UK - November 2013

6. one In Two Affluent Consumers Makes Their Own Investment Decisions
figure 52: Investment Management And Decision Making, August 2013
adults Who Own More Complex Products Tend To Delegate Investment Decisions
figure 53: Investment Management And Decision Making, By Ownership Of Unit Trust/oeics, Property And
Corporate Bonds/bond Futures/gilts/gilt Funds, August 2013
sources Of Financial Advice
key Points
ifas The Top Source Of Financial Advice
figure 54: Sources Of Advice When Taking Out An Investment Product, August 2013
affluent And Hnw Clients More Likely To Seek Advice From Private Banks
figure 55: Sources Of Advice When Taking Out An Investment Product, By Segmentation Of The Affluent
Market, August 2013
awareness Of Rdr Changes
key Points
around 80% Of Affluent Clients Have Heard About The Rdr
figure 56: Consumer Awareness Of Rdr Changes, August 2013
affluent & Hnw Clients Most Likely To Be Aware About The Rdr
figure 57: Consumer Awareness Of Rdr Changes, By Segmentation Of The Affluent Market, August 2013
more Can Be Done To Boost Customer Awareness
figure 58: Consumer Awareness Of Rdr Changes, By Sources Of Advice When Taking Out An Investment
Product, August 2013
ownership Of Certain Products Leads To Increased Awareness
figure 59: Consumer Awareness Of Rdr Changes, By Ownership Of Select Investment Products, August 2013
attitudes Towards Investing And Financial Risk
key Points
affluent Consumers Like The Challenge Of Making The Most Of Their Money…
figure 60: Attitudes Towards Investment Risk, August 2013
but A Large Number Also Prefer To Have Peace Of Mind Over Higher Returns
figure 61: Attitudes Towards Having Lower Investment Risk, August 2013
risk Attitudes Change Among The Three Wealth Tiers
figure 62: Agreement With The Statement ‘i’ve Tended To Avoid Taking Financial Risks In
The Past’, By Segmentation Of The Affluent Market, August 2013
patience And A Long-term Outlook Can Help During Turbulent Times
figure 63: Agreement With The Statement ‘if I Lost Money On An Investment, I Would Stay
Investment And Hope That The Investment Recovers Over Time’, August 2013
Affluent Investing - UK - November 2013

7. appendix – Market Size And Forecast
figure 64: Best And Worst Case Forecast Of Wealth Management Industry Revenues, 2013-18
appendix – Segmentation Of Investable Assets
figure 65: Segmentation Of The Affluent Market, By Value Of Investable Assets, August 2013
appendix – Investment Portfolio
figure 66: Most Widely Owned Saving And Investment Products, August 2013
figure 67: Saving And Investment Products, August 2013
figure 68: Least Owned Saving And Investment Products, August 2013
appendix – Saving And Investing Goals
figure 69: Most Important Saving And Investment Goals, By Demographics, August 2013
figure 70: Less Important Saving And Investment Goals, By Demographics, August 2013
appendix – Investment Decisions
figure 71: Investment Management And Decision Making, By Demographics, August 2013
figure 72: Investment Management And Decision Making, By Segmentation Of The Affluent Market, August
2013
appendix – Sources Of Financial Advice
figure 73: Sources Of Advice When Taking Out An Investment Product, By Demographics, August 2013
appendix – Awareness Of Rdr Changes
figure 74: Consumer Awareness Of Rdr Changes, August 2013
appendix – Attitudes Towards Investing And Financial Risk
figure 75: Agreement With The Statement ‘i Like The Challenge Of Trying To Make The Most Of My
Money’, By Demographics, August 2013
figure 76: Agreement With The Statement ‘i’m Prepared To Take Some Risks With My
Savings And Investments In The Hope Of Earning Higher Returns’, By Demographics, August 2013
figure 77: Agreement With The Statement ‘i’d Rather Take A Few Risks With My Investments
Than Watch Their Real Value Reduced By Inflation’, By Demographics, August 2013
figure 78: Agreement With The Statement ‘if I Lost Money On An Investment, I Would Stay Invested
And Hope That The Investment Recovers Over Time’, By Demographics, August 2013
figure 79: Agreement With The Statement ‘i’m Happy To Make A Lower Return On My
Affluent Investing - UK - November 2013

8. Savings If It Means I Don’t Have To Lie Awake At Night Worrying About Investment Risk’,
By Demographics, August 2013
figure 80: Agreement With The Statement ‘i’ve Tended To Avoid Taking Financial Risks In
The Past’, By Demographics, August 2013
figure 81: Agreement With The Statement ‘even If A Risky Investment Offered Higher Returns, It
Wouldn’t Compensate For The Amount Of Worry It’d Cause Me’, By Demographics,
August 2013
figure 82: Agreement With The Statement ‘i Think That I’m More Willing Than Most People
To Take Financial Risks’, By Demographics, August 2013
figure 83: Agreement With The Statement ‘i’d Rather Have Money In The Bank Now Than
The Chance Of High Returns In The Future’, By Demographics, August 2013
figure 84: Agreement With The Statement ‘i’d Be Prepared To Borrow Money To Make A
Financial Investment’, By Demographics, August 2013
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Affluent Investing - UK - November 2013