This report is the result of WealthInsight's extensive research covering the high net worth individual (HNWI) population and wealth management market in Israel. The report focuses on HNWI performance between the end of 2007 (the peak before the global financial crisis) and the end of 2012. This enables us to determine how well the country's HNWIs have performed through the crisis.
This report is a thorough analysis of the Israeli Wealth Management and Private Banking sector, and the opportunities and challenges that it faces.
Independent market sizing of Israeli HNWIs across five wealth bands Number of wealth managers in each city City wise ratings of wealth management saturation and potential Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in Israel Size of the Israeli wealth management industry Largest domestic private banks by AuM Detailed wealth management and family office information Insights into the drivers of HNWI wealth
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The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the database comprises dossiers on over 60,000 HNWIs from around the world. The Intelligence Center also includes tracking of wealth and liquidity events as they happen and detailed profiles of major private banks, wealth managers and family offices in each market. With the database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.
There were just over 74,700 HNWIs in Israel in 2012. These HNWIs hold US$362 billion in wealth which equates to high 63% of total individual wealth held in the country. Israeli HNWIs outperformed the worldwide HNWI average during the review period - worldwide HNWI volumes decreased by 0.3% whilst Israeli HNWI numbers rose by 13.2%. In 2012, Israeli HNWI numbers rose by 9.3%, following a drop of 8.7% in 2011. The solid growth in HNWI wealth and volumes is expected to continue over the forecast period. The total number of Israeli HNWIs is forecast to grow by 29%, to reach over 96,600 in 2017. HNWI wealth will see a larger percentage increase, growing by 35% to reach US$489 billion by 2017. At 144%, Israel has a relatively high HNWI wealth-to-GDP ratio when compared to the worldwide average of 108%. This, along with Israel's high HNWI-wealth-to-total-individual-wealth ratio (63%), limits potential HNWI growth going forward. Major local private banks include Bank Hapoalim, Bank Leumi, the IDB, Clal Finance Batucha, FIBI and Mizrahi Tefahot Bank. At the end of 2012, Tel Aviv had the most wealth management offices in Israel (21 offices), followed by Jerusalem (6 offices) and Herzliya (5 offices). However Herzliya had more IFAs than any other Israeli city.
1 Introduction 1.1 Details of this Report 1.2 Definitions 2 Executive Summary 3 Wealth Sector Fundamentals 3.1 Political Background 3.2 Economic Background 3.3 Benchmarking Israel Wealth in Context 3.3.1 World statistics 3.3.2 Distribution of wealth in Israel 3.4 HNWI Volume and Wealth Trends 4 Competitive Landscape of the Wealth Sector 4.1 Competitive landscape 4.1.1 Private Banks 4.1.2 Wealth managers 4.1.3 Family offices 4.1.4 Saturation by city 4.1.5 Financial advisors 4.2 Wealth Management Industry - Clientele Model and Maturity 4.3 Behavioral Mapping of Wealth Management and Private Banking Industry in Israel 4.4 Pension fund industry 5 Appendix 5.1 Regulations on Taxes 5.2 Regulations related to Immigration 5.3 Economic Indicators 5.3.1 NIS to US$ exchange rate 5.3.2 Real GDP growth 5.3.3 Per capita GDP 5.3.4 Domestic market capitalization 5.3.5 Commodity index 5.3.6 Foreign direct investment 5.3.7 Inflation rate 5.3.8 Interest rate 5.3.9 Balance of payments 5.3.10 Stock market performance 5.4 Wealth Breakdowns 6 About WealthInsight
Table 1: HNWI Wealth Band and Group Definitions Table 2: ISRAEL: Regions in Israel, 2012 Table 3: ISRAEL: Largest cities in Israel, 2012 Table 4: ISRAEL: Major Local Private Banks, 2012 Table 5: ISRAEL: Foreign Private Banks with Offices in Israel, 2012 Table 6: ISRAEL: Wealth Managers, 2012 Table 7: ISRAEL: Family Offices, 2012 Table 8: ISRAEL: Wealth Managers per Major City, 2012 Table 9: ISRAEL: Emerging Cities for Wealth Management, 2012 Table 10: ISRAEL: Wealth Advisors by City, 2012 Table 11: ISRAEL: Income Tax Structure for Individuals in Israel, 2012 Table 12: ISRAEL: Income Tax Structure for Individuals in Israel, 2013 Table 13: ISRAEL: NIS to US$ Exchange Rate, 2007-2017 Table 14: ISRAEL: Real GDP Growth, 2007-2017 Table 15: ISRAEL: GDP Per Capita, 2007-2017 Table 16: ISRAEL: Domestic Market Capitalization (US$ Billions) 2007-2011 Table 17: ISRAEL: Commodity Indices, 2007-2017 Table 18: ISRAEL: Foreign Direct Investments (US$ Billions) 2007-2017 Table 19: ISRAEL: Inflation Rate, 2007-2017 Table 20: ISRAEL: Benchmark Interest Rate, 2007-2017 Table 21: ISRAEL: Balance of Payments (US$ Billions) 2007-2012 Table 22: ISRAEL: Stock Market Performance, 2007-2012 Table 23: ISRAEL: HNWI Wealth vs GDP Ratio, 2007-2017 Table 24: ISRAEL: Appendix One Table 25: ISRAEL: Appendix Two
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