Ultra HNWIs in the UK to 2015

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					                 Ultra HNWIs in the UK to
                          2015




China – The Future of HNWIs to 2015: Opportunities for Wealth Managers and Private Banks
Publication date: March, 2012.
Report code: WI0029MRa licensed product and is not to be photocopied.
© WealthInsight. This report is
TABLE OF CONTENTS


TABLE OF CONTENTS

1       Introduction ............................................................................................................................ 8
1.1       What is this Report About? ............................................................................................................ 8
2       Executive Summary ............................................................................................................. 12
3       Wealth Sector Fundamentals .............................................................................................. 14
3.1       Political Background to the Wealth Sector ................................................................................. 14
3.2       Economic Background to the Wealth Sector .............................................................................. 15
3.3       Benchmarking UK Wealth in Context .......................................................................................... 17
3.3.1 Distribution of Wealth ........................................................................................................................................ 17
4       Findings from the WealthInsight HNWI Database ............................................................. 20
4.1       UHNWIs ......................................................................................................................................... 20
4.1.1     UHNWI Volume Trend Analysis ........................................................................................................................ 20
4.1.2     UHNWI Wealth Trend Analysis ......................................................................................................................... 22
4.1.3     UHNWI Per Capita Net Worth Trend Analysis .................................................................................................. 24
4.1.4     UHNWIs: Demographic Breakdown .................................................................................................................. 24
4.1.5     UHNWIs – Job Titles ......................................................................................................................................... 26
4.1.6     Industry Breakdown ........................................................................................................................................... 27
4.1.7     Industry Performance ........................................................................................................................................ 28
4.1.8     Industry Forecasts ............................................................................................................................................. 29
4.1.9     UHNWIs – Importance of Entrepreneurship ...................................................................................................... 30
4.1.10    UHNWIs: Demographic Breakdown by Region ................................................................................................. 32
4.1.11    Regional Performance ....................................................................................................................................... 36
4.1.12    Regional Forecasts ............................................................................................................................................ 39
4.1.13    County Review .................................................................................................................................................. 41
4.1.14    London Review .................................................................................................................................................. 43
4.2       Non-domiciled UHNWIs in the UK................................................................................................ 44
4.2.1 Non-domiciled UHNWI volume growth .............................................................................................................. 45
4.2.2 Non-domiciled UHNWI sector breakdown ......................................................................................................... 46
4.2.1 Non-domiciled UHNWI real estate investment .................................................................................................. 47
4.3       UHNWIs – The Billionaires ........................................................................................................... 48
4.3.1     Billionaire Volume Trend Analysis ..................................................................................................................... 49
4.3.2     Billionaire Wealth Trend Analysis ...................................................................................................................... 49
4.3.3     Billionaire Per Capita Net Worth Trend Analysis ............................................................................................... 49
4.3.4     Demographic Breakdown of Billionaires in the UK ............................................................................................ 50
4.3.5     Region-wise Breakdown of Billionaires in the UK ............................................................................................. 51
4.3.6     Billionaire performance over the review period ................................................................................................. 52
4.3.7     Billionaire performance in 2011 ......................................................................................................................... 53
4.3.8     Top Billionaires in the UK .................................................................................................................................. 53
4.3.9     Non-domiciled Billionaires in the UK ................................................................................................................. 55
4.4       UHNWIs – The Centimillionaires .................................................................................................. 56



Ultra HNWIs in the UK to 2015
© WealthInsight. This report is a licensed product and is not to be photocopied.                                                                                         Page 1
TABLE OF CONTENTS


4.4.1 Centimillionaire Volume Trend Analysis ............................................................................................................ 56
4.4.2 Centimillionaire Wealth Trend Analysis ............................................................................................................. 57
4.4.3 Centimillionaire Per Capita Net Worth Trend Analysis ...................................................................................... 57
4.5       UHNWIs – The Affluent Millionaires............................................................................................. 58
4.5.1 Affluent Millionaire Volume Trend Analysis ....................................................................................................... 58
4.5.2 Affluent Millionaire Wealth Trend Analysis ........................................................................................................ 58
4.5.3 Affluent Millionaire Per Capita Net Worth Trend Analysis ................................................................................. 58
5       Analysis of UK UHNWI Investments ................................................................................... 60
5.1       Case Study: UK towns with highest average house prices ....................................................... 62
6       Competitive Landscape of the Wealth Sector ................................................................... 64
6.1       Leading Companies in the Wealth Management and Private Banking Industry ....................... 64
6.1.1 Private Banks and Wealth Managers ................................................................................................................ 64
6.1.2 Family Offices .................................................................................................................................................... 67
6.2       Developments in the UK Private Banking Industry .................................................................... 69
6.3       UK Wealth Management Industry – Clientele Model................................................................... 71
6.4       Behavioral Mapping of Wealth Management and Private Banking Industry in the UK ............ 73
6.5       Porter’s Five Force Analysis – Wealth management industry ................................................... 74
6.6       Financial Services Review ........................................................................................................... 77
6.6.1     Retail Banks ...................................................................................................................................................... 77
6.6.2     Building Societies .............................................................................................................................................. 77
6.6.3     Investment Managers ........................................................................................................................................ 78
6.6.4     Financial Advisors ............................................................................................................................................. 78
6.6.5     Hedge Funds ..................................................................................................................................................... 78
6.6.6     Insurance Companies ........................................................................................................................................ 79
6.7       Case Study: Islamic banking trends in the UK ........................................................................... 80
7       Appendix ............................................................................................................................... 81
7.1       Cities, Counties and Regions....................................................................................................... 81
7.2       Education ...................................................................................................................................... 82
7.3       Philanthropy .................................................................................................................................. 82
7.4       Demand for Intergenerational Wealth Transfer and Younger Clientele .................................... 83
7.5       Regulatory Environment in the UK .............................................................................................. 83
7.5.1     Regulations on Non-domiciled Residents ......................................................................................................... 84
7.5.2     Banking Regulations .......................................................................................................................................... 84
7.5.3     Regulations on Taxes ........................................................................................................................................ 85
7.5.4     Regulations on Fund Management ................................................................................................................... 87
7.5.5     Regulations on Foreign Investment ................................................................................................................... 87
7.5.6     Regulations on Real Estate ............................................................................................................................... 87
7.5.7     Regulations on Foreign Investment in Real Estate ........................................................................................... 88
7.5.8     Regulations on Wealth Management and Private Banking ............................................................................... 88
7.5.9     Regulations Related to Investment and Employment ....................................................................................... 88
7.6       Key Economic Trends and Drivers .............................................................................................. 89
7.6.1 GBP to USD Moving Annual Average Exchange Rate ..................................................................................... 89


Ultra HNWIs in the UK to 2015
© WealthInsight. This report is a licensed product and is not to be photocopied.                                                                                            Page 2
TABLE OF CONTENTS


7.6.2     Real GDP Growth .............................................................................................................................................. 90
7.6.3     Per Capita GDP ................................................................................................................................................. 91
7.6.4     Gross Savings Rate as a Percent of GDP ........................................................................................................ 92
7.6.5     Domestic Market Capitalization ......................................................................................................................... 93
7.6.6     Housing Price Index .......................................................................................................................................... 94
7.6.7     Commodity Index ............................................................................................................................................... 95
7.6.8     Foreign Direct Investment ................................................................................................................................. 96
7.6.9     Investments of FII‟s in Equity Products ............................................................................................................. 97
7.6.10    Inflation Rate ..................................................................................................................................................... 98
7.6.11    Repo Rate.......................................................................................................................................................... 99
7.6.12    Balance of Payments ....................................................................................................................................... 100
7.6.13    Government Debt ............................................................................................................................................ 101
7.6.14    Stock Market Performance .............................................................................................................................. 102
7.6.15    HNWI Wealth vs. GDP Ratio ........................................................................................................................... 103
7.6.16    Capital Formation as Percent of GDP ............................................................................................................. 104
7.6.17    Disposable Income as Percent of GDP ........................................................................................................... 105
7.6.18    Additional Demographic Information on UHNWIs ........................................................................................... 106
7.7       Background of the UK ................................................................................................................ 107
7.7.1 Political and Economic Background ................................................................................................................ 107
7.7.2 Social Background ........................................................................................................................................... 108
7.7.3 Technological Background .............................................................................................................................. 109
8      About WealthInsight .......................................................................................................... 110




Ultra HNWIs in the UK to 2015
© WealthInsight. This report is a licensed product and is not to be photocopied.                                                                                             Page 3
TABLE OF CONTENTS


LIST OF TABLES

Table 1: HNWI Wealth Band and Group Definitions ............................................................................................. 9
Table 2: UHNWIs – Volume by Wealth Band, 2007-15 ...................................................................................... 21
Table 3: UHNWIs – Wealth by Wealth Band (in US$ Billion), 2007-15 .............................................................. 23
Table 4: UHNWIs – Major regions by sector, 2011 .................
				
DOCUMENT INFO
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posted:3/28/2012
language:English
pages:114
Description: The UK has a particularly high number of UHNWIs. This report provides historical trends and projections of the volume and wealth of UK UHNWIs by city and sector. The report then reviews these findings in an analysis of the UK’s Wealth Management and Private Banking sector, and the opportunities therein.
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PARTNER WealthInsight
WealthInsight provides detailed data and insightful analysis on the global wealth sector. With decades of experience providing business information, we help organizations in the wealth industry make informed decisions, position themselves more effectively and uncover and capitalize on opportunities to win new business. At the core of WealthInsight is our proprietary HNWI database of the world’s wealthiest individuals. Your business can utilize this database to identify which wealthy individuals to reach out to. You can use our reports and briefings to analyze where the greatest opportunities lie.