Singapore Wealth Management - High Net Worth (HNW) Investors

Singapore Wealth Management - High Net Worth (HNW) Investors

Summary

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

The Singapore HNW market is dominated by professional and high-earning males. Female HNWs and inheritors will represent a lucrative target market for wealth managers going forward. In a highly competitive market such as this, advisory mandates have the highest demand, yet offering a multi-service proposition is key. A burgeoning appetite for robo-advice coupled with increasing demand for ESG and alternative investments provide arguably the most significant growth opportunities for wealth managers in the foreseeable future.

Scope

• Expats constitute 21.6% of the local HNW population. They represent an attractive target market thanks to their more complex service requirements.
• Robo-advice accounts for 16.7% of the Singaporean HNW portfolio. The market for robo-advisory services is growing, with multiple wealth managers entering the space.
• Property, equities, and cash and near-cash investments dominate the Singaporean HNW portfolio.
• The average Singaporean HNW investor offshores 39.7% of their wealth abroad. This proportion is expected to increase over the next 12 months.

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 the current and future demand for different asset classes among HNW individuals.
• Develop your service proposition to match the demand expressed by Singaporean HNW investors and react proactively to forecast changes in demand.