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As the fastest-growing wealth region in the world, Asia is a promising opportunity for the wealth management industry. Accenture discusses how firms can build effective operating models in the area.
Wealth in Asia is growing at double-digit rates, with Indonesia and Thailand leading the pack. By 2050, the region is expected to be home to the four wealthiest markets in the world: Singapore, Hong Kong, Taiwan and South Korea. As the number of high-net-worth individuals in Asia grows, so too does the competition for their portfolios. Local, regional and global banks are all vying for a piece of this booming business.
Accenture reveals six factors that are affecting the wealth management industry in Asia, then identifies seven features of an efficient and profitable operating model for the region’s wealth management firms.
Recognizing that Asia is the fastest-growing wealth region in the world, Accenture set out to identify the principal challenges and opportunities for wealth management firms hoping to boost their business in this promising market.
This report draws on quantitative market analysis, insights from the Accenture Research team and in depth interviews with leaders from local, regional and global banks operating in the region. Markets covered in the study are Hong Kong, Indonesia, Malaysia, Singapore and Thailand.
Asia is the fastest-growing wealth region in the world—and a promising opportunity for local, regional and global wealth management institutions. Consider the following statistics:
Accenture has identified six key factors that are affecting Asia’s wealth management industry:
Accenture believes that wealth managers can improve their chances of success in Asian markets by ensuring their operating models incorporate seven key features:
October 17, 2012
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