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June 28, 2018

Competing priorities hit HNWIs’ goals: U.S. Trust

Lack of planning and competing priorities stop wealthy individuals from putting their wealth into action, according to a survey by U.S. Trust.

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Benchmark your strategies for targeting the HNW market against your competitors

Even as professionals and entrepreneurs constitute the largest segments within the global HNW market, there are notable differences in terms of investor proclivities such as investment behavior, risk and channel preferences, as well as loyalty, calling for differentiated servicing strategies. Our recent report, HNW Investor Targeting Strategies, is based on our proprietary Global Wealth Managers Surveys, and will help you to:
  • Understand the size and service requirements of key client groups.
  • Develop and enhance your client targeting strategies using our proprietary data on the effectiveness of various strategies across key groups.
  • Minimize customer churn rates by gaining a detailed understanding about key client groups’ diverging proclivities and investment preferences.
  • Tailor your product portfolio to match demand patterns across the segments discussed.
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Of the HNWs and UHNW individuals polled in the US, 90% said that they have gained the freedom to do more with their wealth but face hurdles due to competing priorities.

Less than half (49%) said that they plan for their wealth, while 47% said that they have a clear purpose.

In particular, HNW millennials were found to reduce their large cash allocations from 47% to 21% of total portfolio holdings. However, they were found to have the lowest stock allocations compared to other age groups.

Besides, 80% of HNW investors expected companies to make a profit and at the same time take responsibility for their impact on the environment and society.

The study also revealed the growing significance of women as wealth creators and decision-makers, with women found to be the equal or primary income earners among four in 10 HNW couples.

Also, 38% of the women investors polled were found to take the lead on or contribute equally to important investment decisions.

U.S. Trust president Katy Knox said: “Life is a balancing act of personal, professional and family needs and goals that requires comprehensive financial planning.”

Free Report
img

Benchmark your strategies for targeting the HNW market against your competitors

Even as professionals and entrepreneurs constitute the largest segments within the global HNW market, there are notable differences in terms of investor proclivities such as investment behavior, risk and channel preferences, as well as loyalty, calling for differentiated servicing strategies. Our recent report, HNW Investor Targeting Strategies, is based on our proprietary Global Wealth Managers Surveys, and will help you to:
  • Understand the size and service requirements of key client groups.
  • Develop and enhance your client targeting strategies using our proprietary data on the effectiveness of various strategies across key groups.
  • Minimize customer churn rates by gaining a detailed understanding about key client groups’ diverging proclivities and investment preferences.
  • Tailor your product portfolio to match demand patterns across the segments discussed.
Download the full report to understand what to expect and how to align your business for success.
by GlobalData
Enter your details here to receive your free Report.

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