Belgium Wealth Management – High Net Worth (HNW) Investors
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Belgium Wealth Management Report Overview
Men continue to dominate Belgium’s HNW population, accounting for more than 86% share. Women are significantly under-represented in the Belgian HNW market. However, inheriting spouses will form an important target segment for wealth managers going forward, given that male HNW investors are significantly older than their female counterparts.
The Belgium wealth management report analyzes the investment preferences, service requirements, and portfolio allocations of Belgian HNW investors. The report, based on GlobalData’s annual Global Wealth Managers Survey, profiles HNWs in terms of their demographics, analyzes their propensity to invest offshore, and explores product and service demand.
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| Key Investment Preferences |
· Advisory Asset Management
· Automated Investment Services · Discretionary Asset Management · Execution-Only Asset Management |
| Key Reasons for Expatriation | · Tax Efficiencies
· Job Transfer · Better Lifestyle Conditions · Better Opportunities for Expats’ Children · Retirement |
| Key Asset Allocation Classes | · Equities
· Bonds · Cash and Near Cash Products · Real Estate · Commodities · Alternatives |
| Enquire & Decide |
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Belgium Wealth Management Market - Investment Preferences
The key investment preferences in the Belgium wealth management market are advisory asset management, automated investment services, discretionary asset management, and execution-only asset management. Currently, discretionary, and automated investment services have a strong demand, but advisory mandates are set to witness a rise in popularity over the next 12 months. The main reason for this is clients’ desire to retain control over assets under management (AUM) while still receiving professional advice.
Belgium Wealth Management Market Analysis by Investment Preferences, 2023 (%)
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Belgium Wealth Management Market - Reasons for Expatriation of HNW Investors
Tax efficiency is the leading factor driving expatriation to Belgium
The drivers of expatriation are tax efficiencies, job transfers, better lifestyle conditions, better opportunities for your client’s children, and retirement, among others. In previous years, the steady influx of wealthy migrants to Belgium was largely due to favorable tax conditions. However, effective from January 2024, the government implemented a series of tax reforms, including amendments to the Special Tax Regime for foreigners. Under the new regime, all expats will be considered Belgian tax residents and taxed on their worldwide income.
Belgium Wealth Management Market Analysis by Reasons for Expatriation
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Belgium Wealth Management Market - Asset Allocation Classes
Cash and near-cash products accounted for the highest Belgium wealth management market share in 2023
The major asset allocation classes for HNW investors in the Belgium wealth management market include equities, bonds, cash and near-cash products, real estate, commodities, and alternatives. Rising interest rates have increased returns on deposits, making them more attractive. However, the continued strong demand for deposits over 2024 suggests that a great deal of investor anxiety remains.
Belgium Wealth Management Market by Asset Allocation Classes
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Segments Covered in the Report
Belgium Wealth Management Asset Allocation Classes Outlook (2023)
- Equities
- Bonds
- Cash and Near Cash Products
- Real Estate
- Commodities
- Alternatives
Scope
Expats constitute 27.6% of the local HNW population. They represent an attractive target market thanks to their more complex service requirements.
Robo-advice accounts for 18.1% of the Belgian HNW portfolio and has strong current demand.
Cash, equities, and property dominate the Belgian HNW portfolio.
Reasons to Buy
- Understand Belgium’s HNW wealth market, including the investment preferences of HNW individuals.
- Develop and enhance your client targeting strategies using our data on HNW demographics and sources of wealth.
- Tailor your investment product portfolio to match current and future demand for different asset classes among HNW individuals.
Argenx
Lucy
BNP Paribas Fortis
Curvo
Degroof Petercam
KBC Private Banking
Table of Contents
Frequently asked questions
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What are the key investment preferences in the Belgium wealth management market?
The key investment preferences in the Belgium wealth management market are advisory asset management, automated investment services, discretionary asset management, and execution-only asset management.
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Which was the leading reason for the expatriation of HNW investors in the Belgium wealth management market in 2023?
Tax efficiency was the leading reason for the expatriation of HNW investors in the Belgium wealth management market in 2023.
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Which was the leading asset allocation class for HNW investors in the Belgium wealth management market in 2023?
Cash and near-cash products accounted for the highest Belgium wealth management market share in 2023.
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