Australia Wealth Management – High Net Worth (HNW) Investors, 2023 Update
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Australia Wealth Management Report Overview
Austalia’s wealth market is mature when compared to other Asia-Pacific markets. More than 57% of HNW investors in Australia are aged 61 or above, consequesntly highlighting major wealth preservation strategies. Healthcare is the largest contributor to HNW wealth in Australia. However, the financial services sector, the second-largest contributor to HNW wealth has remained resilient in the face of global and domestic uncertainty.
Australia wealth mangemnet market report sizes the opportunity within Australia’s wealth market and analyzes the investment preferences, service requirements, and portfolio allocations of its 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, and Execution-Only Asset Management. |
Key Reasons For Expatriation | Job Transfer, Better Lifestyle Conditions, Better Opportunities For Expats’ Children, Business Start-Ups, and Retirement, among others. |
Major Asset Classes Of Offshore Investment | Equity, Cash and Near Cash, Bonds, Property, Alternatives, and Commodities |
Australia Wealth Management Market Dynamics
The bulk of HNW individuals in Australia have accumulated their wealth either through earned income or entrepreneurship. In light of the often more complex needs of entrepreneurs, wealth managers able to cater to this segment’s financial needs (both private and business) will find them more lucrative than professionals.
An above-average proportion of Australian HNW individuals have inherited their wealth compared to the wider Asia-Pacific region, creating an opportunity for family office services. This segment will grow further given the advanced age of Australia’s current HNW cohort. It therefore represents a lucrative market for providers willing to reach out with targeted products.
For more insights into the Australia wealth management market dynamics, download a free report sample
Australia Wealth Management Market Investment Preferences
The key investment preferences in the Australia wealth management market are advisory asset management, automated investment services, discretionary asset management, and execution-only asset management. Over the next 12 months, Australia’s wealth managers expect discretionary services to record the highest increase in demand.
Australia Wealth Management Market - Reasons for Expatriation for HNW Investors
The drivers of expatriation to Australia are job transfer, better lifestyle conditions, better opportunities for expats’ children, business start-ups, and retirement among others. Better lifestyle conditions is a major reasons for expats to come to Australia.
Australia Wealth Management Market, By Reasons For Expatriation
For more expatriation reason insights in the Australia wealth management market, download a free report sample
Australia Wealth Management Market - Major Asset Classes of Offshore Investment
The major asset classes of offshore investment for HNW investors in the Australia wealth management market include equity, cash and near-cash products, bonds, property, alternatives, and commodities. Equities held the highest share of Australia’s HNW asset allocation.
Australia Wealth Management Market, By Asset Classes Of Offshore Investment
For more asset classes of offshore investment insights in Australia wealth management, download a free report sample
Australia Wealth Management Market Asset Classes Outlook (2022)
- Equity
- Cash and Near Cash
- Bonds
- Property
- Alternatives
- Commodities
Key Highlights
- Expats constitute more than 20% of the local HNW population. They represent an attractive target market thanks to their more complex service requirements.
- Robo-advice accounts for more than 11% of the Australian HNW portfolio.
- Equities, bonds, and cash and near-cash investments dominate the Australian HNW asset portfolio.
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.
Boosting Female Founders
NAB
Wealthmed
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FactSet
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Table of Contents
Figures
Frequently asked questions
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What are the various investment services in the Australia wealth management market?
Advisory asset management, automated investment services, discretionary asset management, and execution-only asset management are the various investment services in the Australia wealth management market.
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Which is the leading reason for expatriation of HNW investors in the Australia wealth management market?
Better lifestyle conditions is the primary reason for expatriation of HNW investors in the Australia wealth management market.
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Which is the leading asset classe of offshore investment for HNW investors in the Australia wealth management market?
Equity is the leading asset classe of offshore investment for HNW investors in the Australia wealth management market
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