Wealth in France: HNW Customers

Date: 2015-11

Part of a two-part series, Wealth in France: HNW Customers analyzes the profile of French HNW individuals, from their investments to product demand to sources of wealth. This report is based on our 2014 Global Wealth Managers Survey. The results of the survey are accompanied by best-practice case studies on how to target French HNW individuals where applicable.

– Understand the major sources of HNW wealth in France and the industries from which it has been amassed.
– Interpret the investment portfolios of French HNW individuals through detailed asset allocation analysis.
– Evaluate product and service demand among French HNW individuals, from discretionary asset management to art advisory and philanthropy services.
– Analyze the best methods to capture new French HNW clients and how best to maintain communication throughout the client relationship.

– How do French HNW individuals amass their wealth?
– Which assets make up an average French HNW investment portfolio?
– Which wealth management products and services are in demand in France?
– How often do French wealth managers contact their clients through email, social media, and face-to-face meetings?
– How do French HNW individuals compare to their European peers?

Key Highlights
The typical French HNW client is a family business owner who has amassed their wealth through manufacturing. Expats constitute a relatively small percentage of the French HNW population, and thus it will be difficult for wealth managers to achieve the economies of scale necessary to target this market efficiently.

The French HNW portfolio shows less risk preference compared to the European average in terms of asset allocation. French clients tend to allocate a larger share of their wealth into bonds compared to their European counterparts. Looking forward, the weight of bonds is expected to decrease as French investors seek better returns from equities.

Advisory asset management is the mandate of choice among French HNW individuals. Over the next two years, discretionary and advisory asset management are expected to see significant increases in demand. French wealth managers should ensure their mandates are robust enough to meet this demand.”

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