At the same time, the growth rate of women's wealth in the UAE and Saudi Arabia is expected to grow by 5.1 per cent to $103 billion and 8.3 per cent to $224 billion, during the same period.
These figures not only illustrate the rise of women's wealth in the Middle East, but they also indicate that the segment will strongly contribute to the overall wealth. Yet, despite their increasing spending power, women do not receive the same attention and interest the region's wealth management community because of these factors:
• Lack of segmentation: More often than not, women are treated as a homogenous group, dismissing the different needs of female clients.
• Traditional roles: For years, women have been less involved in financial decision-making processes, which has limited opportunities in financial affairs.
The coming years look set to represent another milestone period for women's wealth – robust growth is expected to accelerate despite the ongoing economic impacts of COVID-19. If firms begin to appreciate and subsequently accommodate women's specific needs, they too can benefit from this growing wealth market.
Wealth managers must immediately create a culture of social inclusion and eliminate long-standing biases. There is a need to create recognition of unconscious biases around the requirements of female investors. Training regimes and diversity education should be updated to mitigate biases and increase cultural competency.
Diverse teams should be established to achieve a culture shift towards being more inclusive and client-focused. At the same time, standardized questioning should be adopted in the onboarding process to reduce bias effectively.
The 2020 Wealth Management in Vietnam Report
The Dragon Banker’s The 2020 Wealth Management in Vietnam Report is the most authoritative and detailed report on the current state and the future of Vietnam’s growing wealth management industry.
The report looks at the great potential of the market and the range of opportunities as the economy and private wealth continues to accelerate. It looks into the number of people who are considered affluent, HNWI and HNWI and evaluates into their asset allocation strategy.
The report also looks into the rising wealth management operations that are occurring in Vietnam along with the rise of client’s interest and knowledge. Product and service range are expanding, both for onshore and offshore. And foreign competition is rapidly increasing to help domestic clients in investing overseas, across Asia and the globe.
Table of contents
1. About The Dragon Banker
2. Forward & Introduction
3. The Dragon Banker Methodology
4. The HNWI Opportunities in Vietnam
5. Regulatory framework across Vietnam’s wealth management industry
6. The Psychological and Behavioural Make up of Vietnam’s HNWI individuals
7. The Current State of the Wealth Management Market in Vietnam
8. Volume, Wealth and Allocation Forecasts to 2024
9. Independent market sizing of Vietnam’s HNWI
10. Vietnam’s Affluent Class: People With Assets of $100,000 And $1 Million
11. Vietnam’s HNWIs: Asset allocation, growth trends and investment preferences
12. Current insights into the Drivers of HNWI Wealth
13. Current Competition Amongst Banks for HNWI Clients and SWOT
- Standard Chartered
- Saigon Asset Management
- The State Bank of Vietnam
- Joint Stock Commercial Bank for Investment and Development of Vietnam
- Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank)
- Tien Phong Commercial Joint Stock Bank,
- Mirae Asset Wealth Management Securities
- Manulife Asset Management
- Other Key players
14. Summary and Final Analysis
15. How to Leverage The Dragon Banker for IT firms & Financial Institutions
For more information, please contact Blake King-Blake.email@example.com
The 2020 Wealth Management in Oman Report
The Dragon Banker’s 2020 Wealth Management in Oman Report is the most authoritative intelligence on the wealth management industry in Oman.
Private wealth has seen significant growth in the last few years across Oman, as domestic and UEA banks are targeting the rising wealthy population that consists of not only native Oman populations but also other wealthy Arab and African populations residing there.
We predict that due to the rapid rise of personal wealth in Oman, competition between domestic, regional and global banks will continue to intensify over the next few years, forcing banks to innovate new products, services, and to continue to develop deeper and more intimate relationships with their clients.
Analysts at The Dragon Banker expected an acceleration of compound annual growth rate of investible assets to increase significantly in the next few years, along with asset allocations changing in the light of this.
This report explores the growth of the high-net worth class (those with assets of at least $1,000,000 USD) and HNWI (those with assets of at least $30,000,000million USD), the sources of wealth generation and an analysis on how foreign banks that have already entered the market are doing. This report also provides financial firms who are interested in entering the country, an objective view on the market potential along with the latest regulations in the sector.
Table of Contents
1. Introduction of The Dragon Banker and Middle East private banking research
2. The Dragon Banker’s research methodology
3. HNWI’s opportunities in Oman
4. The current state of the private banking market in Oman
5. Current Insights into the Drivers of Oman’s HNWIs’ Wealth
6. Note on Regulations Impacting Oman’s private banking Sector
7. The Psychological and Behaviour Makeup of The Oman’s HNWIs
8. Market Sizing of Oman’s HNWI
9. Growth Challenges for Banks in Oman’s Wealth Management Industry
10. Business and wealth succession in Oman, and the best to worst banks
11. The number of HNWI in Oman and projections to year 2025
12. The number of UHNWI in Oman and projections to year 2025
13. Current Competition and benchmarking Amongst Banks for HNWI Clients and SWOT
National Bank of Oman
Alliance Housing Bank
Al Madina Financial & Investment Services
L. Other key wealth management firms in Oman
14. How to leverage The Dragon Banker for IT firms and Financial
The Thailand Wealth Management Report 2019
The Dragon Banker's The Thailand Wealth Managment Report 2019 is the most authoriative and comprehensive report on Thailand's wealth mangement industry.
The unique report sheds insightful views and research on the competition of wealth management in the market, the growth of the industry, and an analysis of the key players and their strategies based on interviews with key decision makers throughout Thailand's financial instittuions along with global financial firms operating in the market.
Why invest in this report?
This report is a key document for any financial institution that is planning or plans in the near future to work in Thailand's wealth management market. The report's data and information is done by our analysts best of the ability, which derives from more than 25 interviews with executives and key managers working in Thailand's wealth management market.
Doing so will create a more thorough understanding to provide and ultimately deliver better services and results.
Together with the current amount of women's wealth and the robust growth forecasts emphasizes the importance of a strategic rethink for wealth managers. Not only must they manage the different cultural perception and unconscious bias within wealth management, they must also ensure approaches are implemented that ultimately result in meeting the financial aims of women.
- Mustafa Bosca is Managing Director and Partner, BCG.