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美國資產管理市場:富裕族群投資家 (2019年)

US Wealth Management: HNW Investors 2019

出版商 GlobalData 商品編碼 923006
出版日期 內容資訊 英文 37 Pages
美國資產管理市場:富裕族群投資家 (2019年) US Wealth Management: HNW Investors 2019
出版日期: 2019年12月18日內容資訊: 英文 37 Pages


本報告針對美國的富裕族群 (HNW) 資產管理市場現狀及未來展望進行分析,並收集統整了富裕族群的人口結構、資產結構的概略,以及受歡迎的昂歸自產管理商品/服務的趨勢、外籍居留者富裕族群 (expats) 的投資動向、離岸投資動向、未來有希望的產品/服務等資訊。

第1章 執行摘要

  • 美國富裕族群 (HNW) 市場:持續提供成長機會
  • 分析重點
  • 重要的成功因素

第2章 美國資產管理市場:市場規模計策與預測

  • 美國成人人口的60%屬於「中流以上」(Affluent individuals)
    • 富裕族群投資家佔了市場整體的2.2%
    • 富裕族群客戶的資產總額在近年大幅下降,但預期未來幾年會大幅增加

第3章 人口結構

  • 50∼70歲的男性佔了美國富裕族群的大部分
  • 工作所得佔了美國富裕族群資產的大部分
    • 美國富裕族群幾乎都是從工作所得或業務所得獲得資產
    • 美國富裕族群客戶從各種不同的收入來源獲得資產

第4章 外籍居留者的富裕族群

  • 居留與美國的外籍富裕族群:人口增加與重要性擴大
    • 美國富裕族群人口中16%為外籍居留者
    • 富裕族群投資家居住於海外的理由各式各樣
    • 工作簽證:吸引富裕族群投資家前往的選項

第5章 富裕族群的投資形式偏好

  • 團結力高的美國富裕族群投資家:重視個人之間的關係
    • 美國富裕族群投資家鮮少委託資產管理企業
    • 投資家追求「心安」才會運用資產管理企業
    • 美國富裕族群投資家主要關係投資業務信託及裁量信託
    • 美國市場的關鍵是複合資產管理策略
  • 全資產管理
    • 富裕族群投資家希望有實踐性的做法
    • 強烈傾向在自家公司運用資產的資產管理企業,需要表現出自己就是潛在客戶

第6章 富裕族群的資產分配

  • 富裕族群持續有重視證券的趨勢
    • 即便對其他資產分配感到興趣,仍會繼續保留證券
    • ETF (指數型證券投資信託基金) 愈來愈受歡迎
    • 股票、債券的既有關係變得薄弱,富裕族群投資家模索可替代的多元手段
    • 多元化與定期獲益:成為所有產業和階層的主要促進因素

第7章 富裕族群離岸投資的偏好

  • 美國富裕族群的離岸投資:預期停滯
    • 政府詳查:離岸投資的阻礙因素
    • 獲益率的改善、來自海外居住者的資金回流:離岸市場的主要促進因素
  • 離岸投資:雖然在地理上很分散,但未改變證券主體
    • 瑞士與英國成為主要資金來源,墨西哥和中國是主要投資標的
    • 證券和債券佔了大部分的離岸投資組合

第8章 富裕族群商品需求及其預測

  • 立案服務:在美國的高需求
    • 對資產管理服務的綜合途徑:談論美國富裕族群市場的關鍵

第9章 附錄


Product Code: FS0306CI

The US is the largest wealth market in the world and home to a diverse and sizable HNW segment. Expats are a particularly lucrative segment and the range of countries of origin among HNW expats in the US is diverse, with Canada and the UK being key feeder countries.

Expatriate flows are also responsible for a notable proportion of offshore investments thanks to investors' propensity to invest in their country of origin. Close to 50% of local and over one third of offshore investments are allocated into equities, and with continued market uncertainty expected in the future, greater importance is being placed on diversification, driving demand for alternatives.

This report sizes the opportunity offered by the US wealth market and analyzes the investing preferences, service requirements, and portfolio allocations of US HNW investors. The report is based on our proprietary Global Wealth Managers Survey.


  • 2.2% of the US population is considered HNW but holds 42% of all liquid assets.
  • Over 90% of HNW individuals are men and 50% of those are over 60 years old.
  • HNW investors work with an average of 2.9 wealth managers, with the majority of wealth held via advisory or discretionary mandates.
  • 44% of HNW onshore wealth is allocated to equities. Going forward, the most notable portfolio reshuffle will benefit alternatives at the expense of bonds, as investors are looking for new means of diversification.

Reasons to buy:

  • Develop and enhance your client targeting strategies using our data on HNW profiles and sources of wealth.
  • Give your marketing strategies the edge required and capture new clients using insights from our data on HNW investors' preferences for the various styles of asset management.
  • Tailor your investment product portfolio to match current and future demand for different asset classes among HNW individuals.
  • Develop your service proposition to match the product and service demand expressed by US HNW investors and react proactively to forecasted changes in demand.

Table of Contents


  • 1.1. The US HNW market continues to offer opportunities for growth
  • 1.2. Key findings
  • 1.3. Critical success factors


  • 2.1. Affluent individuals in the US account for 60% of the adult population
    • 2.1.1. HNW investors account for 2.2% of the market
    • 2.1.2. Wealth for HNW clients has dropped recently but is expected to rise significantly in the coming years


  • 3.1. Males aged between 50 and 70 dominate the US HNW market
  • 3.2. Earned wealth accounts for the largest proportion of US HNW investors
    • 3.2.1. Almost all US HNW investors earned their wealth or acquired it as an entrepreneur
    • 3.2.2. US HNW clients source their wealth from different sectors


  • 4.1. Expats in the US are a growing and important segment
    • 4.1.1. 16% of the US HNW client base is made up of expats
    • 4.1.2. The reasons for HNW investors to expatriate vary
    • 4.1.3. Employment-based visas are an attractive option for HNW investors


  • 5.1. US HNW investors are a loyal bunch, placing great emphasis on personal relationships
    • 5.1.1. US HNW investors prefer to use a few wealth management firms
    • 5.1.2. Investors seek peace of mind and expert wealth management
    • 5.1.3. US HNW clients are mainly interested in advisory and discretionary mandates
    • 5.1.4. A multi-asset management strategy is key in the US
  • 5.2. Demand for all asset management mandates to rise, except discretionary
    • 5.2.1. HNW investors are expected to seek a more hands-on approach
    • 5.2.2. Wealth managers seeking opportunities in the self-directing segment will need to prove themselves to potential clients


  • 6.1. Asset allocation continues to weigh heavily towards equities
    • 6.1.1. Despite having increased their allocations over the past year, investors remain exposed to equity risk
    • 6.1.2. ETFs are becoming increasingly popular
    • 6.1.3. As the traditional stock-bond correlation is diminishing, HNW investors are looking towards alternatives as a means of diversification
    • 6.1.4. Diversification and regular income are the main drivers across all asset allocation classes


  • 7.1. Demand for offshore holdings by US HNW clients is forecast to stagnate
    • 7.1.1. Increased government scrutiny is putting a damper on offshore holdings
    • 7.1.2. A desire for better returns and expatriate money flows are major offshore drivers
  • 7.2. Offshore holdings are geographically diversified, but equity investments dominate
    • 7.2.1. Next to Switzerland and the UK, expat source countries Mexico and China are key booking centers
    • 7.2.2. Offshore portfolios are dominated by equities and bonds


  • 8.1. Planning services are in high demand in the US
    • 8.1.1. A holistic approach to wealth management services is key to resonating with the US HNW market


  • 9.1. Abbreviations and acronyms
  • 9.2. Methodology
    • 9.2.1. GlobalData's 2019 Global Wealth Managers Survey
    • 9.2.2. Level of agreement calculation
    • 9.2.3. Service level of demand score
    • 9.2.4. Forecast level of demand calculation
  • 9.3. Secondary sources
  • 9.4. Further reading

List of Figures

  • Figure 1: 2.2% of US individuals qualify as HNW
  • Figure 2: The rich are still getting richer
  • Figure 3: Women constitute a smaller proportion of the US HNW segment but are typically younger
  • Figure 4: Almost all HNW wealth is sourced from earnings or first-generation entrepreneurship
  • Figure 5: IT and financial services are the leading industries for sources of wealth
  • Figure 6: The proportion of Chinese expats has dropped while those from Canada and the UK have increased
  • Figure 7: Most expats stay between three and five years
  • Figure 8: US HNW clients still place most of their wealth with their main wealth manager
  • Figure 9: HNW clients rely on their advisors for peace of mind and superior expertise
  • Figure 10: Advisory and discretionary mandates account for two thirds of US HNW wealth
  • Figure 11: Demand for all types of asset management mandates is evenly spread
  • Figure 12: Slight drop in demand for discretionary asset management is predicted
  • Figure 13: Self-directed investors typically lack trust in wealth managers or prefer exclusive control
  • Figure 14: Equities is still by far the preferred asset
  • Figure 15: Equities, and specifically equity funds, outrank all other asset allocations
  • Figure 16: Wealth managers expect an increase in demand for all asset classes except bonds
  • Figure 17: Drivers for asset allocation vary greatly across the six classes
  • Figure 18: Increased government regulations and shifts in demographics are to blame for the stagnation of growth in offshore holdings
  • Figure 19: Expats retain ties with business interests in their countries of origin
  • Figure 20: The UK, Switzerland, and China remain the most popular booking centers
  • Figure 21: Except for investments in currencies, offshore asset class ratios mimic those of onshore portfolios
  • Figure 22: Financial and inheritance planning services are most in demand for HNW clients
  • Figure 23: The already strong HNW demand for all planning services is expected to increase, while demand for life insurance is forecast to stagnate