Boston, MA -- (SBWIRE) -- 09/10/2013 -- The Asia-Pacific region has become the largest market for high net worth individuals (HNWIs) globally, and is primarily driven by the increasing HNWI population in Japan, China and India. Economic growth and rising realty prices during the review period were the main reason for growth of HNWI numbers in the region. Growing wealth in this region and the emergence of Singapore and Hong Kong as offshore hubs have attracted a large number of wealth management companies to set up branches in the region. Additionally, tax advantages and opportunities for global diversification have made offshore banking an attractive option for foreign banks in this region. Most wealth management companies are entering this highly lucrative market either through joint ventures, partnerships or by acquiring a domestic firm. The entry of international wealth management firms has made the market competitive and wealth management firms now offer premium services and sophisticated products to counter the fierce competition.

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Key Highlights

- Most HNWIs in the Asia-Pacific region are either first-generation HNWIs or inheritors of family wealth
- With the cooling of realty and equity markets there has been strong growth in fixed-income funds in Asia-Pacific, and most wealth management firms in the region offer a range of fixed-income products
- An increasing number of HNWIs in the Asia-Pacific region are showing interest in investments of passion, such as art, jewelry and collectibles, as they are increasingly delivering higher returns than equities
- Wealth management firms in the Asia-Pacific region are facing severe profitability pressures due to stringent regulations laid down by banking regulators in this region
- Offshore wealth centers catering to Asia-Pacific clients are growing at a rapid pace, with Singapore and Hong Kong emerging as key destinations

Scope

- This report examines the changing consumer behavior of HNWIs in the Asia-Pacific region and details the various product, distribution and expansion strategies adopted by wealth management firms
- The report details the market potential and key trends in the HNWI market in the Asia-Pacific region and provides an overview of the HNWI population and HNWI wealth across asset classes
- It provides insights into the changing consumer behavior of HNWIs in the Asia-Pacific region and how wealth management firms are redesigning their products and services to gain market share
- The report discusses the expansion strategies adopted by wealth management firms to gain market share
- It details various sales and distribution strategies adopted by wealth management firms to reach HNWI customers
- The report outlines changing regulatory trends and the operational and technological challenges faced by wealth management firms in the country

Reasons to Get This Report

Companies Mentioned in this Report: SFG Australia Ltd, Lachlan Partners, JBWere Pty Ltd, Lombard Odier, Julius Baer, Macquarie Group, Commonwealth Bank of Australia, Guosen Securities Co. Ltd, Oddo & Cie, Vistra (Curacao) NA, Manulife Financial Corporation, Flag Capital Management, Gottex Fund Management, Union Bancaire Privee, Standard Chartered Bank India, Kotak Mahindra Bank, Karvy Private Wealth Ltd, Ascalon Capital Managers Ltd, Treasury Group Ltd, Rohatyn Group

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