Australia Wealth Management - High Net Worth (HNW) Investors, 2023 Update

Australia Wealth Management - High Net Worth (HNW) Investors, 2023 Update

Summary

Australia’s HNW market is dominated by older professional males. HNW investors have mainly sourced their wealth from earned income, while entrepreneurial income and inheritance form smaller yet growing sources. Discretionary mandates have the highest demand, yet offering a multi-service proposition underpinned by a proven ability to demonstrate returns will be key to tapping into demand. A growing appetite for discretionary mandates and alternative investments provide arguably the most significant growth opportunities for wealth managers in the foreseeable future.

This report sizes the opportunity within Australia's wealth market and analyzes the investment preferences, service requirements, and portfolio allocations of its HNW investors. The report is based on GlobalData's proprietary Global Wealth Managers Survey.

Scope

• Expats constitute 20.9% of the local HNW population. They represent an attractive target market thanks to their more complex service requirements.
• Robo-advice accounts for 12% of the Australian HNW portfolio.
• Equities, bonds, and cash and near-cash investments dominate the Australian HNW asset portfolio.

Reasons to Buy

• Develop and enhance your client targeting strategies using our data on HNW profiles and sources of wealth.
• Enhance your marketing strategies and capture new clients using insights from our data on HNW investors’ asset management style preferences.
• Tailor your investment product portfolio to match current and future demand for different asset classes among HNW individuals.