The economy of Germany is not in good shape as it suffers from the global recession and auto industry turmoil, yet, local and foreign banks are battling to win business from Germany's super rich.
Amid global competition, Financial powerhouses like Deutsche Bank AG, Goldman Sachs Group Inc., and Rothschild & Co. are few among those planning to strengthen their position in Europe鈥檚 biggest economy.
Some of the major wealth management companies in Germany
Sparkassen, Deutsche Bank, ING-DiBa, Commerzbank, Das Kann Bank, and other companies operate in the wealth management segment.
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Germany鈥檚 affluent segment (comprising high-net-worth [HNW] and mass affluent individuals) has experienced robust growth in recent years. HNW investors in Germany hold the majority of their assets in liquid assets such as equities, mutual funds, deposits, and bonds, with investments in liquid assets accounting for 81% of their total investments. However, wealth managers must remain aware of the expected rise in the share of illiquid assets over 2018-22.
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According to Credit Suisse, Germany has the third-largest number of UHNWI population in the world.
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Many experts believe that in near future aging owners are expected to sell off their businesses. Other expecting that services of professional advisors will be needed to transfer cash from accounts with negative yields.
Germany听Wealth Management Market Insights
- There are near 1,500 听Private banks are competing in the Wealth Management segment in Germany. In the recent past, a number of foreign institutions have tried entering the segment but failed to crack the market.
- Affluent individuals accounted for 20.3% of Germany鈥檚 total adult population in 2018, collectively holding 82.7% of the country鈥檚 retail wealth.
- Deposits remain the preferred investment avenue among German retail investors, accounting for 68.5% of all liquid retail savings and investments in 2018.
- 12.5% of German HNW investors鈥� wealth was held outside of the country, with access to a better range of investment options being the main reason to invest offshore.
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[1]Germany Wealth Management: Market Sizing and Opportunities to 2022 report's findings are based on our proprietary datasets, this report analyzes Germany鈥檚 wealth and retail savings and investments markets, with a focus on the HNW segment.
Receive detailed insights into retail liquid asset holdings in Germany, including deposits, mutual funds, equities, and bonds.
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