Thailand Wealth Management – High Net Worth (HNW) Investors
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Thailand Wealth Management Report Overview
Thai HNW investors skew heavily towards males, but female entrepreneurs represent a lucrative target segment. This gender imbalance is higher than in the overall Asia-Pacific region. Wealth managers should examine whether their current engagement strategies fuel this imbalance and alienate female clients.
The Thailand wealth management market report analyzes the investment preferences, service requirements, and portfolio allocation of Thailand’s HNW investors. The report is based on GlobalData’s proprietary Global Wealth Managers Survey.
Key Investment Preferences | · Advisory Asset Management
· Automated Investment Services · Discretionary Asset Management · Execution-Only Asset Management |
Key Reasons for Expatriation | · Better Lifestyle Conditions
· Better Opportunities for Expats’ Children · Business Start-Ups · Job Transfer · Political or Economic Instability in The Origin Country |
Key Asset Allocation Classes | · Equity
· Bonds · Cash and Near Cash · Real Estate · Commodities · Alternatives |
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Thailand Wealth Management Market Dynamics
The vast majority of HNW individuals in Thailand have accumulated their wealth through earned income. Meanwhile, one in five have amassed their wealth through entrepreneurship. However, considering the often more complex needs of entrepreneurs, wealth managers that can cater to this segment’s financial needs (both private and business) will find entrepreneurs more lucrative than professionals.
The financial services industry which is the leading HNW wealth generator in Thailand remained resilient in 2022. Banks recorded year-on-year growth in the loan space, mainly due to the repayment of large corporate loans in the trading sector, mortgage loans, and personal loans. Overall the banking system’s net profit improved mainly due to loan expansions, rising interest rates, and lower provisioning expenses resulting in an increase in net interest income.
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Thailand Wealth Management Market - Investment Preferences
The key investment preferences in the Thailand wealth management market are advisory asset management, automated investment services, discretionary asset management, and execution-only asset management. On a net basis, wealth managers anticipate demand for all types of asset management mandates to increase over the next 12 months. However, forecast demand for execution-only asset management is considerably higher than discretionary and advisory mandates. As a result, relationship management and a focus on loyalty must become the central theme of the client-advisor relationship. This will discourage HNW individuals from managing their investments on their own and drive take-up of discretionary mandates
Thailand Wealth Management Market - Reasons for Expatriation of HNW Investors
The drivers of expatriation to Thailand are better lifestyle conditions, better opportunities for expats’ children, business start-ups, job transfer, and political or economic instability in the origin country, among others. Business start-ups and tax efficiency act as the main expatriation factors. Since business start-ups are important in driving expatriation to Thailand, supporting expats with their entrepreneurial endeavors is key. Hence, wealth managers with operations in Thailand (or those familiar with the country’s business environment) are at a clear advantage.
Thailand Wealth Management Market Analysis by Reasons for Expatriation, 2022 (%)
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Thailand Wealth Management Market - Asset Allocation Classes
The major asset allocation classes for HNW investors in the Thailand wealth management market include equity, bonds, cash and near-cash, real estate, commodities, and alternatives. Equities constitute the majority of Thai HNW investors’ managed wealth at present. Investors have been cautious in recent years, despite recovering from the COVID-related fall in Thai stocks. Thailand’s flagship equity index, the SET Index, remained volatile throughout 2022 and closed the year with a gain. Alternatives have the highest forecast demand over the next 12 months, followed by commodities.
Thailand Wealth Management Market by Asset Allocation Classes, 2022 (%)
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Thailand Wealth Management Market Asset Classes Outlook (2022)
- Equity
- Bonds
- Cash and Near Cash
- Real Estate
- Commodities
- Alternatives
Scope
• Expats constitute 33.1% of the local HNW population. They represent an attractive target market thanks to their more complex service requirements.
• Robo-advice accounts for 12% of the Thai HNW portfolio.
• The average Thai HNW investor offshores 69.9% of their wealth abroad. This proportion is expected to increase over the next 12 months.
Key Highlights
- Expats constitute 33.1% of the local HNW population. They represent an attractive target market thanks to their more complex service requirements.
- Robo-advice accounts for 12% of the Thai HNW portfolio.
- The average Thai HNW investor offshores 69.9% of their wealth abroad. This proportion is expected to increase over the next 12 months.
Reasons to Buy
- Develop and enhance your client targeting strategies using our data on HNW profiles and sources of wealth.
- Enhance your marketing strategies and capture new clients using insights from our data on HNW investors’ asset management style preferences.
- Tailor your investment product portfolio to match current and future demand for different asset classes among HNW individuals.
Techsauce
BNP Paribas
Credit Suisse
DBS
Julius Baer
HSBC
Lombard Odier
Pictet Kasikornbank
Bangkok Bank
Robowealth
Table of Contents
Frequently asked questions
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Which is the leading HNW wealth generator in the Thailand wealth management market?
The financial services industry is the leading HNW wealth generator in the Thailand wealth management market.
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What is the leading reason for the expatriation of HNW investors in the Thailand wealth management market?
Business start-ups and tax efficiency are the primary reasons for the expatriation of HNW investors in the Thailand wealth management market.
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Which is the leading asset class for HNW investors in the Thailand wealth management market?
Equity is the leading asset class for HNW investors in the Thailand wealth management market.
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