Wealth in the Netherlands: HNW Investors

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Typically Dutch HNW individuals come from an entrepreneurial background or are family business owners, while the leading generators of wealth are the IT and financial services industries. While younger than the regional average, most Dutch HNW individuals are over 50, with almost a quarter over 65. Expats form a small proportion of the HNW population (4.1%), with the UK accounting for the largest share. The typical Dutch HNW individual invests heavily into equities, which make up nearly half of the typical HNW portfolio, while bonds constitute another third. Allocations into equities, property, and cash are expected to increase, demand for alternatives will remain unchanged, while demand for bonds and commodities is set to decrease amid low yields and commodity prices.


• Compared to the wider region, expats do not form a large proportion of the resident HNW population, and have been in the Netherlands for less time than the European average.

• Discretionary mandates account for 49.9% of portfolios, while 42.3% is invested in advisory mandates and 7.8% in execution-only mandates.

• The largest share of HNW wealth is allocated into equities, which make up 44% of the typical HNW portfolio, while bonds constitute 31%.

• The desire to receive better returns through advisors and investors’ highly complex portfolios are the leading reasons why Dutch HNW individuals seek professional advice.

• Those seeking to self-direct at least part of their wealth are largely motivated by the desire to retain exclusive control over part of their portfolio.

Reasons to Buy

Develop and enhance your client targeting strategies using our data on HNW profiles and sources of wealth.

Give your marketing strategies the edge required and capture new clients using insights from our data on HNW investors’ drivers for seeking investment advice vs self-directing.

Tailor your investment product portfolio to match current and future demand for different asset classes among HNW individuals.

Develop your service proposition to match the product and service demand expressed by Dutch HNW investors and react proactively to the forecasted change in demand.

ABN Amro

Table of Contents


Most Dutch HNW individuals are either family business owners or entrepreneurs

Key findings

Critical success factors


Entrepreneurship is the leading source of Dutch HNW wealth

Entrepreneurs should be targeted with tailored service propositions

Many HNW investors have built their fortunes through IT and financial services

Dutch HNW individuals are older, making wealth preservation crucial

Expats in the Netherlands form a small share of the HNW population

Expats constitute

4.1% of the local HNW population

Cost considerations motivate expats to keep wealth in the Netherlands

The UK accounts for almost half of HNW expats in the Netherlands



7.8% of HNW wealth is held via execution-only mandates, making the Netherlands an attractive market to operate in

Wealth managers should highlight their specialist expertise

The largest proportion of HNW wealth is kept in discretionary mandates

Demand is strongest for discretionary mandates

Discretionary mandates will remain the favored asset management offering

A desire to retain control of some of their investments motivates self-directed investors


Equities will remain the most favored asset class

Equities constitute nearly half of HNW investors' managed wealth, and are mostly held through funds

Capital appreciation opportunities and dividend income feed the HNW appetite for equities

Bond investments are forecast to decrease in popularity

Balancing out equity risk, Dutch investors prefer bond funds and direct government bonds

Bond investments will continue to decrease in popularity

Cash and near-cash allocation is on par with the wider region

The Dutch HNW cash portfolio is largely in local currency deposits

Low interest rates will continue to depress demand for cash and near cash-products

Property constitutes 6% of the typical HNW portfolio

Dutch HNW investors prefer property investments through funds

The revitalized property market will motivate investors to increase allocations in this asset class

Alternatives constitute 5% of the typical HNW portfolio

Hedge funds account for more than half of alternatives

Asset diversification is the leading driver of alternative investments


Demand for planning services is below the regional average

ABN Amro offers services for families seeking to secure their wealth over generations

Demand for advice will offer opportunities in the future

Demand for investment property and tax advice lags behind the regional average

Wealth managers lacking the in-house resources to provide property advice should consider partnerships in light of rising demand


Abbreviations and acronyms



Mass affluent


Liquid assets


Verdict Financial's 2015 Global Wealth Managers Survey

Verdict Financial's 2014 Global Wealth Managers Survey

Exchange rates


Further reading

About Verdict Financial





Figure 1: The majority of Dutch HNW individuals have sourced their wealth through either family business or first-generation entrepreneurship

Figure 2: ING's innovation studio lets startups test their ideas and receive mentoring

Figure 3: IT and financial services are the leading generators of wealth

Figure 4: Dutch HNW individuals are younger than the regional average, but the majority are still over 50

Figure 5: Expats have largely been in the country over the short or medium term

Figure 6: Expats in the Netherlands aim to avoid foreign exchange fees by investing in the country

Figure 7: The largest proportion of expats in the Netherlands come from the UK

Figure 8: ABN Amro's World Citizen Services targets expats globally

Figure 9: Clients seek professional advice in the hope of better returns

Figure 10: Discretionary mandates are the leading choice among Dutch HNW investors

Figure 11: Dutch HNW investors express strong demand for managed mandates

Figure 12: Demand for discretionary mandates is set to soar

Figure 13: Self-directing clients want to retain control of part of their investment portfolio

Figure 14: Equities dominate Dutch HNW asset allocation

Figure 15: Two thirds of the Dutch equity portfolio is held through funds

Figure 16: Capital appreciation and dividend income drive HNW equity investments

Figure 17: Bonds constitute a third of the typical Dutch HNW portfolio

Figure 18: Demand for bonds will decrease as investors look for higher returns

Figure 19: Cash investments are largely in local currency deposits

Figure 20: Demand for cash investments is expected to decrease

Figure 21: Investment property is mostly held through funds

Figure 22: Asset diversification is the leading driver of property investment

Figure 23: Alternative investments are mostly held in hedge funds

Figure 24: Wealth managers are divided on the development of demand for alternatives

Figure 25: Demand for planning services is below the regional average

Figure 26: ABN Amro offers planning services for wealthy families

Figure 27: Demand for planning services is set to pick up

Figure 28: Demand for investment property advice and tax planning services is muted

Figure 29: Demand for investment property advice is expected to pick up

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