Till recently, companies were targeting the high net worth individuals (those who have invest able assets more than rupees five crore or $1 million); but the focus is now shifting towards Ultra high net worth individuals or families (those who have invest able assets more than rupees 45 crore or $10 million)
Singapore offers remarkable opportunities to wealth management firms due to the rapidly growing wealth and population of HNWI. Demographic shifts in the HNWI are expected to initiate a change in wealth management strategies, as HNWI seek newer and safer ways of investing wealth.
India offers considerable opportunities to wealth management firms due to the rapidly growing wealth and population of HNWI.
The recent economic crisis significantly decreased client trust in wealth management firms, resulting in a shift toward personalized services and safer products such as fixed income securities. However, the mass affluent offer the wealth management industry high growth opportunities. In the U.S., this segment has around 33 million individuals, representing around 43% of the country’s investable assets. However, only 18% of the mass affluent are estimated to have availed financial planning services.