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市場調查報告書
去極化對英國資產管理市場的影響
Impact of Depolarisation on the UK Wealth Management Market
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本報告已在2011年07月19日停止出版。
隨著去極化（Depolarization）作用漸漸進行，個人客戶顧問（Private Client Advisor）及資產管理家等的市場機會也越來越多。另一方面，也可能會有前所未見的問題發生。
擅長多領域市場調查分析的英國專業市調公司 Datamontor Corporation（總公司：倫敦），調查分析了去極化對英國資產管理市場之影響 ，並出版綜合報告書"Impact of Depolarization on the UK Wealth Management Market"。
報告書內容包括去極化在英國資產管理市場的相關概要、去極化對個人客戶顧問、資產管理家及相關企業等的影響分析 ，及市場機會與阻礙因素等，內容概編如下。
摘要
極化與去極化
- 何謂極化
- 何謂去極化
- 去極化的目的
- 創造更自由的環境
- 導正
- 主體明確化
- BTB（Better Than Best）法則的消失
- 其他變化
- 去極化的範圍
影響
實例研究
- Halifax Bank of Scotland (HBS)
- UBS
- AEGON
資料
附錄
Scope and coverage of the brief
- Outlines clearly the FSA's proposals for the depolarization of the advice
market
- Analyzes the impact of depolarization on private client advisors, wealth
managers and product manufacturers
- Highlights opportunities and threats, giving clients a comprehensive view
of exactly what they need to do to prepare for depolarization
Brief highlights
- Clarity will be essential for consumers who have been put off buying some
savings products following mis-selling scandals and fears that advice has
not been as honest and independent as they had previously believed.
- Along with the changes that depolarization brings, opportunities will open
up for private client advisors and wealth managers. Threats to client bases
and business models will also materialize that until now - were of no
concern for players in the wealth market.
- Some private client advisors get a significant amount of business through
professional connections and will need to retain an independent arm. If they
do not they will cease to get referrals from professional bodies such as
lawyers and accountants.
Reasons to purchase
- For strategic managers - find out what the threats and opportunities will
be for your future business model
- For product manufacturers - find out what you need to do to ensure that
your products remain successful post-polarization
- For advisors - find out how depolarization will affect you and what you
can do to prepare in the meantime
Table of Contents
INTRODUCTION
- What is this report about?
POLARIZATION VS DEPOLARIZATION
- What is polarization?
- What is depolarization?
- Aims of depolarization
- Creation of a more liberal landscape
- An end to commission bias - the menu
- Clarification of independence
- Disappearance of the 'better than best' rule
- Other changes
- The scope of depolarization
- Products
- Single premium products
- Regular premium products
- Collective Investments - single and regular collective investments
- Advisors
IMPLICATIONS
- Holding out
- Greater choice
- Branching out
- Economic analysis
- Fees vs commissions
- Hidden fees
- Commission under pressure
- Products
- The appeal of packaged products
- Mass-market appeal
- Distribution
- Advisors for sale
- Preferred panel
SELECTED CASE STUDIES
- Halifax Bank of Scotland (HBOS)
- Staying tied
- UBS
- On the acquisition trail
- AEGON
- Keeping manufacture and distribution at arm's length
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DATA
APPENDIX
- Research methodology
- Further reading
- Datamonitor Global Wealth Service: Reports
- Datamonitor Global Wealth Service: Insight Reports
- Datamonitor Global Wealth Service: Competitor Tracking
- Related Savings & Investments SPP Reports
- Datamonitor Financial Services Consulting
- SPP writing team
List of Tables
- Table 1: Single premium products covered by depolarization, 2004
- Table 2: Regular premium products covered by depolarization, 2004
- Table 3: Collective investment products covered by depolarization
proposals, 2004
- Table 4: Number of active financial advisors - individuals - in the UK,
January 2002
- Table 5: New single premium business subject to depolarization broken down
by distribution channel, 2003
- Table 6: New regular premium business subject to depolarization broken
down by distribution channel, 2003
- Table 7: Gross sales of UK unit trusts/ OEICs, 2003
List of Figures
- Figure 1: Single premium products lend themselves to distribution by the
intermediary channel
- Figure 2: IFAs dominate the distribution of the regular premium products
included in the depolarization proposals, 2003
- Figure 3: Intermediaries dominate the distribution of unit trusts and
OEICs, 2003
- Figure 4: AEGON is a manufacturer and distributor of life, pensions and
investments
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