Product innovation in European wealth management 2008

STANDARD DESCRIPTION:

Introduction

European wealth managers continue to churn out new products and services as a means of keeping pace with or staying ahead of their competitors. This report analyses recent product launch activity, looking especially at new, innovative offerings and assessing anticipated trends in product and service development to 2010.

Scope

*Assesses product development priorities among European wealth managers;

*Highlights new product and service features and benefits;

*Identifies future areas of focus for product and service innovation.

Highlights

Wealth managers may be missing out on opportunities to drive business among business owners and entrepreneurs in particular, since limited development and launch effort is being committed to private equity investments and lending products, even though these categories are attracting strong interest from this very lucrative client group.

Wealthy investors are benefiting from moderate to significant innovation in three core areas. Just below 60% of wealth managers described new online services as quite innovative or very innovative, while 55% and 50% report significant new features and benefits being introduced to value-added services and capital-protected investments, respectively.

Development in online services is likely to be most vigorously pursued by wealth managers serving the mass affluent market. Providers should note, however, that online services are also highly valued by the critical segments of expatriates, inpatriates and, to a slightly lesser extent, business owners/entrepreneurs.

Reasons to Purchase

*Benchmark your product development efforts against the offers of leading European wealth managers and private banks;

*Align new product development strategies to the characteristics and demands of some of the most lucrative customer segments;

*Gain insights into wealth managers' strategies for embedding innovation into their organisations.

 

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