In the third quarter of 2018, we worked with ESI ThoughtLab to conduct a comprehensive survey of 2,000 clients in 26 countries to understand their changing investment needs, behaviors and value perceptions.
We profiled clients not just by traditional segments, such as age, gender, wealth and location, but also by level of education, profession, investment knowledge, risk appetite and psychographic profile.
We also asked respondents to rate their knowledge in managing their finances and divided them into low, average, high and very high categories depending on their knowledge of common and complex financial products.
To understand client movement in the wealth management industry for this article, we asked respondents whether they had switched or moved money from a wealth management firm over the past three years or plan to do so over the next three years.
We also conducted interviews with executives at leading wealth management firms around the world to understand how they are rethinking their value propositions and business strategies.
Levels of investible assets
Mass affluent: US$250,000 to US$999,999
High net worth (HNW): US$1m to US$4.9m
Very high net worth (VHNW): US$5m to US$29.9m
Ultra-high net worth (UHNW): US$30m to US$100m
Millennial: born 1981–97 (age 21–37)
Gen X: born 1965–80 (age 38–53)
Boomer: born 1946–64 (age 54–72)