Wealth in the UK: Sizing the Market Opportunity 2017

March 2017 •
58 pages •
Report ID: 4794562 •
Format: PDF

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Wealth in the UK: Sizing the Market Opportunity 2017

Summary

"Wealth in the UK: Sizing the Market Opportunity 2017" analyzes the UK’s wealth and retail savings and investments markets, with a focus on the HNW segment. The report is based on our proprietary datasets.

Despite the surprising result of the Brexit referendum and a slowing economy, the UK’s liquid assets grew by over 8% in 2016, the highest growth rate since the end of the financial crisis. Growth continues to be driven mainly by mutual funds, which performed well despite the volatility, as fund managers were able to capitalize on the opportunities provided by the UK stock market. With low interest rates, UK investors may be showing growing demand for well-performing funds. However, as the country’s economy faces the challenges of lower GDP expansion and growing inflation, future growth will remain muted. Wealth managers will still be able to find opportunities to grow their business, with demand for tax and estate planning advice remaining high as the government continues to fiddle with tax or pensions regulations.

Specifically, the report -
- sizes the affluent market (both by the number of individuals and value of their liquid assets) using GlobalData’s proprietary datasets
- analyzes which asset classes are favored by UK investors and how their preferences impact the growth of the total savings and investments market
- examines HNW clients’ attitudes towards non-liquid investments, such as property and commodities
- identifies key drivers and booking centers for offshore investments

Scope
- Affluent individuals represent less than 29% of the UK population but hold 91.8% of the UK’s liquid assets.
- UK wealth is concentrated mainly in London and the South East, and the unequal wealth distribution is unlikely to change during the period of economic slowdown.
- 48.4% of UK savings are held in deposits (mostly in instant access accounts), but the solid performance of mutual funds has been attracting inflows to this asset class.
- Despite holding 11% of their investment portfolios in commodities, property, and alternatives, the UK’s wealthiest individuals show a strong preference for liquid products.
- Tax efficiency remains the main driver for HNW individuals opting to offshore wealth, with the Isle of Man and Ireland being the preferred booking centers.

Reasons to buy
- Benchmark your share of the UK wealth market against the current market size.
- Forecast your future growth prospects using our projections for the market to 2020.
- Identify your most promising client segment by analyzing the penetration of affluent individuals in the UK - both at country and regional level.
- Evaluate your HNW proposition by understanding how the ever-changing UK tax system affects your HNW clients.
- Review your offshore strategy by learning about HNW motivations for offshore investments and their preferred booking centers.

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