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Premium and mass affluent banking uk - november 2013

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  • 1. Premium and Mass Affluent Banking - UK - November 2013 For banks targeting the affluent market offering a holistic approach can be important strategy and the focus should not just be around premier accounts. Firms can target new customers by offering to provide and manage a suite of accounts in order to cater for clients’ particular financial situations and needs. table Of Content introduction report Scope And Definitions abbreviations key Sources executive Summary the Market identifying The Aspirational, Mass Affluent And Affluent & Hnw Market figure 1: Proportional Breakdown Of Uk Wealth, Based On Ownership Of Investable Assets (excluding Housing Equity), 2013 market Factors switching Service Presents An Opportunity For Banks impact Of The Rdr companies, Brands And Innovation main Banking Brands Also Exert Their Dominance In The Affluent Segment figure 2: Main Current Account Provider, By Segmentation Of The Wealth Market, August 2013 adspend On Banking Products And Services Up By A Fifth In 2012/13 who’s Innovating? the Consumer segmentation Of The Aspirational, Mass Affluent And Affluent & Hnw Markets figure 3: Segmentation Of The Wealth Target Market, By Value Of Investable Assets, August 2013 current Account Ownership figure 4: Current Account Ownership, August 2013 current Account Provider influential Factors For Choosing An Account figure 5: Influential Factors When Choosing An Account, August 2013 reasons For Overlooking A Fee Charging Account figure 6: Reasons For Not Taking Out A Fee Charging Account, August 2013 current Account Switching figure 7: Account Switching Behaviour, August 2013 Premium and Mass Affluent Banking - UK - November 2013
  • 2. intentions Of Using The Current Account Switching Service figure 8: Current Account Switching Intentions, August 2013 what We Think issues In The Market can Firms Target Clients With Multiple Accounts? will The New Switching Service Encourage More People To Change Their Account Provider? what Are The Main Influencing Factors When Affluent Consumers Choose Accounts? why Do Consumers Overlook Paid For, Premium Or Full Private Accounts? trend Application bringing Your Bank To You try Before You Buy mintel Futures: Generation Next market Drivers key Points many Potential Investors Remain Wary Of Taking On Too Much Risk switching Service Presents An Opportunity For Banks fsa Cuts Income Limit For Advice Opt-out the Fca Is Looking To Put In More Stringent Rules About Ring-fencing Client Funds shake-up In The Retail Banking Scene impact Of The Rdr mifid Ii Update swot Analysis figure 9: Premium And Mass Affluent Banking – Swot Analysis, 2013 who’s Innovating? key Points barclays Launches A Financial Planning Tool citi Private Bank Signs A New Sponsorship Agreement roundup Of Some Of The More Exclusive Private Bank Services market Size key Points around 16% Of Over 18s Fall Into The Target Wealth Market Premium and Mass Affluent Banking - UK - November 2013
  • 3. figure 10: Proportional Breakdown Of Uk Wealth, Based On Ownership Of Investable Assets (excluding Housing Equity), 2013 hnw Clients Most Likely To Have Accumulated Wealth Through Employment figure 11: Hnw Wealth Accumulation, June 2012 age Has An Impact On Wealth Accumulation figure 12: Hnw Wealth Accumulation, By Age, June 2012 affluent & Hnw Clients Most Likely To Have Private Bank Accounts figure 13: Current Account Ownership, By Segmentation Of The Wealth Target Market, August 2013 market Share key Points main Banking Brands Also Exert Their Dominance In The Affluent Segment figure 14: Main Current Account Provider, By Segmentation Of The Wealth Market, August 2013 coutts And Barclays Lead The Way When It Comes To Aum figure 15: Largest 15 Wealth Managers, By Assets Under Management And Number Of Client Accounts – Uk, 2011 And 2012 companies And Products barclays description branch Network mass Retail Proposition premium Proposition For The Mass Affluent figure 16: Barclays Premium Current Account – Key Features, August 2013 private Banking For Hnw financial Performance figure 17: Barclays Uk Retail And Business Banking Division – Key Financial Data, 2011 And 2012 figure 18: Barclays Wealth – Key Financial Data, 2011 And 2012 recent Activity citibank description branch Network premium Proposition For The Mass Affluent figure 19: Citibank’s Citigold Current Account – Key Features, August 2013 private Banking For Hnw financial Performance figure 20: Citicorp’s Global Consumer Banking Division, Emea Region – Key Financial Data, 2011 And 2012 recent Activity clydesdale Bank description Premium and Mass Affluent Banking - UK - November 2013
  • 4. branch Network mass Retail Proposition premium Proposition For The Mass Affluent figure 21: Clydesdale Bank’s Premium Account – Key Features, August 2013 financial Performance figure 22: Clydesdale Bank Plc – Key Financial Data, 2011 And 2012 recent Activity hsbc description branch Network mass Retail Proposition premium Proposition For The Mass Affluent figure 23: Hsbc Premium Account – Key Features, August 2013 private Banking Services For Hnw financial Performance figure 24: Hsbc Bank Plc’s Uk Retail Banking And Wealth Management Division – Key Financial Data, 2011 And 2012 recent Activity lloyds Tsb description branch Network mass Retail Proposition premium Proposition For The Affluent figure 25: Lloyds Tsb’s Premium/private Bank Account – Key Features, August 2013 private Banking For Hnw bank Of Scotland’s Private Banking financial Performance figure 26: Lbg’s Wealth And International Division – Key Financial Data, 2011 And 2012 recent Activity natwest/rbs description branch Network mass Retail Proposition premium Proposition For Mass Affluent figure 27: Rbs/natwest Premium/private Bank Account – Key Features, August 2013 private Banking For Hnw financial Performance figure 28: Rbs Group’s Wealth Division – Key Financial Data, 2011 And 2012 recent Activity brand Communication And Promotion key Points Premium and Mass Affluent Banking - UK - November 2013
  • 5. adspend On Banking Products And Services Up By A Fifth In 2012/13 figure 29: Total Advertising Expenditure On Banking And Asset Management Products And Services, By Product Category, 2008/099-12/13 barclays Continues To Lead The Way In Advertising Expenditure figure 30: Top Five Advertisers Of Packaged/premium Accounts And Mass-market Wealth Management Services, 2010/11-12/13 press And Internet Advertising Dominate The Packaged And Premium Account Market figure 31: Share Of Advertising Expenditure On Packaged/premium Accounts, By Media Type, 2008/099-12/13* a Note About Adspend channels To Market key Points having An Accessible Branch Network Is Important figure 32: Number Of Branches Operated, By The Top Six Retail Banking Groups, Start 2013 online Banking Leading The Way In Client Interaction figure 33: Frequency Of Using Banking Services Provided By Main Current Account Provider, June 2013 profile Analysis Of The Wealth Target Market key Points survey Coverage wealth Tiers Among Affluent Consumers figure 34: Segmentation Of The Wealth Target Market, By Value Of Investable Assets, August 2013 older Male Clients Well Represented In The Target Wealth Market figure 35: Profile Of Wealth Target Market Based On Wealth Tier, By Gender And Age, August 2013 investable Assets Can Be More Important Than Income For Private Banks figure 36: Profile Of Wealth Target Market Based On Wealth Tier, By Working Status, August 2013 engaging With The Future Generation Of Affluent & Hnw Consumers figure 37: Profile Of Wealth Target Market Based On Wealth Tier, By Child Age, August 2013 current Account Ownership key Points a Fifth Of The Target Wealth Market Have A Premier Or Fully Private Account figure 38: Current Account Ownership, August 2013 affluent & Hnw Clients Most Likely To Have Private Bank Accounts figure 39: Current Account Ownership, By Segmentation Of The Wealth Target Market, August 2013 a Third Of 18-44-year-olds Have A Premier Or Full Private Bank Account figure 40: Current Account Ownership, By Age, August 2013 Premium and Mass Affluent Banking - UK - November 2013
  • 6. current Account Provider key Points main Retail Banks Lead The Way Even In The Target Wealth Market figure 41: Main Current Account Provider, August 2013 lloyds Tsb Slightly More Popular Among Aspirational Clients figure 42: Main Current Account Provider, By Segmentation Of The Wealth Market, August 2013 influential Factors For Choosing An Account key Points easy To Use Online Banking Tools Most Influential When Picking An Account figure 43: Influential Factors When Choosing An Account, August 2013 premier And Full Private Account Holders More Likely To Place Importance On Value-added Services figure 44: Influential Factors When Choosing An Account, By Current Account Ownership, August 2013 lbg And Rbs Group Clients More Likely To Value An Accessible Branch figure 45: Influential Factors When Choosing An Account, By Main Current Account Provider, August 2013 reasons For Overlooking A Fee Charging Account key Points even Many Affluent Consumers Are Not Willing To Pay For Current Accounts figure 46: Reasons For Not Taking Out A Fee Charging Account, August 2013 around 11% Of The Target Wealth Market Have Never Looked At Paid For Accounts lbg Clients More Likely To Have Reverted To A Regular Current Account figure 47: Reasons For Not Taking Out A Fee Charging Account, By Current Account Provider, August 2013 little Disparity In Barriers Among The Three Wealth Tiers figure 48: Reasons For Not Taking Out A Fee Charging Account, By Segmentation Of The Wealth Market, August 2013 current Account Switching key Points two Thirds Of Affluent Consumers Have Switched Their Current Account figure 49: Account Switching Behaviour, August 2013 over-65s Least Likely To Have Switched Current Accounts Before figure 50: Account Switching Behaviour, By Age, August 2013 regular Current Account Users Less Likely To Have Switched Recently figure 51: Account Switching Behaviour, By Current Account Ownership, August 2013 figure 52: Account Switching Behaviour, By Segmentation Of The Wealth Target Market, August 2013 intentions Of Using The Current Account Switching Service key Points Premium and Mass Affluent Banking - UK - November 2013
  • 7. hopes That Switching Service Will Boost Current Account Competition figure 53: Current Account Switching Intentions, August 2013 previous Account Switchers More Likely To Make Use Of The New Service figure 54: Current Account Switching Intentions, By Account Switching Behaviour, August 2013 private/premier Account Holders More Likely To Plan On Switching figure 55: Current Account Switching Intentions, By Current Account Ownership, August 2013 appendix – Profile Analysis Of The Wealth Target Market figure 56: Segmentation Of The Wealth Target Market, By Demographics, August 2013 appendix – Current Account Ownership figure 57: Current Account Ownership, By Demographics, August 2013 figure 58: Ownership Of Private/premier And Full Private Bank Accounts, August 2013 appendix – Current Account Provider figure 59: Main Current Account Provider, By Demographics, August 2013 figure 60: Main Current Account Provider Continued, By Demographics, August 2013 appendix – Influential Factors For Choosing An Account figure 61: Most Influential Factors When Choosing An Account, By Demographics, August 2013 figure 62: Influential Factors When Choosing An Account, By Demographics, August 2013 figure 63: Least Influential Factors When Choosing An Account, By Demographics, August 2013 appendix – Reasons For Overlook A Fee Charging Account figure 64: Main Reasons For Not Taking Out A Fee Charging Account, By Demographics, August 2013 figure 65: Other Reasons For Not Taking Out A Fee Charging Account, By Demographics, August 2013 appendix – Current Account Switching figure 66: Account Switching Behaviour, By Demographics, August 2013 figure 67: Switching And Non-switching Behaviour, By Demographics, August 2013 appendix – Intentions Of Using The Current Account Switching Service figure 68: Current Account Switching Intentions, By Demographics, August 2013 ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our Premium and Mass Affluent Banking - UK - November 2013
  • 8. huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: M/s Sheela, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: sales@researchmoz.us Website: http://www.researchmoz.us/ Premium and Mass Affluent Banking - UK - November 2013