Targeting entrepreneurs

Targeting entrepreneurs

Introduction

In recent years entrepreneurs have come to be seen as a key client segment for wealth managers to target and acquire, and an important growth area in the future. This report shows how entrepreneurs can be most effectively targeted, and how major wealth managers are currently attracting this client group.

Scope

Includes insight from executives within major wealth management firms Covers in detail the strategies employed by leading wealth managers

Highlights

Private banks situated within an existing banking network are clearly best positioned to bring functions closer together, and should look to focus on those aspects of the network that are of particular interest to this group. The investment bank in particular should be as integrated as possible. For many entrepreneurs, particularly those with international business interests, the global reach of their private bank is an important consideration. Where possible, wealth managers should develop global capabilities (often in partnership with the investment bank), and demonstrate that the bank has knowledge and access to global opportunities. Private banks therefore need to be aware of M&A activity in business, for example, as well as understanding the life-cycle of a business, and take the opportunity to emphasize this aspect of their businesses when approaching entrepreneurs who are both current and prospective clients.

Reasons to Purchase

Gain insight into how competitors effectively target one of the most attractive client segments Understand how to alter strategy to maximize opportunities in attracting this client group

Introduction

In recent years entrepreneurs have come to be seen as a key client segment for wealth managers to target and acquire, and an important growth area in the future. This report shows how entrepreneurs can be most effectively targeted, and how major wealth managers are currently attracting this client group.

Scope

Includes insight from executives within major wealth management firms Covers in detail the strategies employed by leading wealth managers

Highlights

Private banks situated within an existing banking network are clearly best positioned to bring functions closer together, and should look to focus on those aspects of the network that are of particular interest to this group. The investment bank in particular should be as integrated as possible. For many entrepreneurs, particularly those with international business interests, the global reach of their private bank is an important consideration. Where possible, wealth managers should develop global capabilities (often in partnership with the investment bank), and demonstrate that the bank has knowledge and access to global opportunities. Private banks therefore need to be aware of M&A activity in business, for example, as well as understanding the life-cycle of a business, and take the opportunity to emphasize this aspect of their businesses when approaching entrepreneurs who are both current and prospective clients.

Reasons to Purchase

Gain insight into how competitors effectively target one of the most attractive client segments Understand how to alter strategy to maximize opportunities in attracting this client group