Chinese HNW investors, who skew heavily towards entrepreneurial males across three industries, show strong demand for most forms of wealth advice and planning. A multi-service proposition underpinned by a proven ability to demonstrate returns will be key to tapping into demand.A uniquely large expat market, a burgeoning appetite for novel options such as robo-advice, and the upcoming monumental transfer of wealth between generations provides arguably the most significant growth opportunity for global wealth managers in the foreseeable future.
Key findings -
Females account for a mere 11% of Chinese HNW investors.But
as they benefit more from equal rights than ever before they represent a
growing target segment.
Expats constitute23% of the local HNW population.They represent an attractive target market thanks to their more complex service requirements.
Offering robo-advice is a must. 57% of industry participants notestrong demand, while a noteworthy 76% expect demand to rise over the next two years.
Chinese HNW asset allocation has become more diverse.The proportion of cash holdings has fallen to 19%, while fixed-income products have risen to 9%.
Real estate investment demand will soften slightly, but the rise of authenticreal estate investment trusts (REITs) will be a game-changer.
Pensions/retirement and financial planning are the most sought after wealth management services, with 87% and 95% of wealth managers reporting strong HNW demand.