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Published: Oct, 2014 | Pages:
68 | Publisher: WealthInsight
Industry: Wealth Management | Report Format: Electronic (PDF)
Synopsis This report provides insights into family businesses and the role of wealth managers in key developed and emerging economies. It analyzes key market trends, industry concentration, family business owners’ wealth, succession planning, and the role of wealth managers in family businesses. The report also highlights new market opportunities for wealth managers and private bankers in the developed and emerging economies studied. It uses WealthInsight’s proprietary HNWI database comprising 100,000 individuals. Summary Family businesses continue to be a fundamental source of private wealth creation, and a key engine driving the world economy. Despite their dominance, the topic is relatively underresearched in terms of wealth management due to a lack of official data. Family businesses in developing countries are typically first-generation firms, whereas those in Europe are more likely to be in their fourth or fifth generations. Demand for wealth management is higher from family businesses in developed economies, as business owners in developing economies prefer to limit the entry of external advisors. The report also highlights that succession planning services are gaining prominence in developed economies, representing new opportunities for wealth managers and private bankers. Scope The report includes the following: A global snapshot of family business dynamics Key market trends and industry concentration of family businesses in selected developed and emerging economies Family succession and the role of wealth managers in key developed and emerging economies Key issues and challenges facing family firms in selected developed and emerging economies Reasons to buy Make robust business decisions and build better business strategies using the latest insight information on the role of wealth management in family businesses. Understand the importance of family businesses and the role of wealth mangers in advising family firms’ assets and succession planning, and address the implications of these issues in the wealth management sector. Be informed about key market trends relating to family businesses in selected developed and emerging economies, and address each accordingly. Understand the industry concentration of family businesses in both developed and emerging economies, as well family business owners’ wealth and succession planning, and develop the latest strategies to meet clients’ needs. Key highlights Most family businesses in emerging economies are first-generation firms, and are at early stages of their lifecycles. Approximately 38% of all listed firms in emerging Asia-Pacific markets were only listed on the stock market after 2000. Demand for wealth management is higher from family businesses in developed economies, but is limited in emerging countries: families in emerging countries prefer to limit the entry of outsiders, even as advisors, in their businesses. Succession planning services are gaining prominence in developed economies. Family-owned but professionally managed firms expected to grow in emerging countries.
Table of Contents 1 Introduction 1.1 What is This Report About? 1.2 Definitions and Scope 2 Executive Summary 3 Global Snapshot of Family Business Dynamics 3.1 Key Business Opportunities for Wealth Managers 3.2 Family Businesses in Developed and Developing Economies 4 Developed Economies 4.1 Key Trends in Family Businesses 4.2 Industry Concentration of Family Businesses 4.2.1 The US 4.2.2 Canada 4.2.3 The UK 4.2.4 Germany 4.2.5 Australia 4.2.6 Singapore 4.3 Family Succession 4.4 The Role of Wealth Management in Family Business 4.5 Key Issues and Challenges 5 Emerging Economies Background and Key Trends in Family Businesses 5.1 Industry Concentration of Family Businesses 5.1.1 China 5.1.2 The Philippines 5.1.3 Malaysia 5.1.4 Mexico 5.1.5 India 5.1.6 Indonesia 5.2 Family Succession 5.3 The Role of Wealth Management in Family Business 5.4 Key Issues and Challenges 6 About WealthInsight
List of Tables Table 1: HNWI Wealth Band and Group Definitions Table 2: Family-Owned Firms’ Growth Potential in Developed and Emerging Markets, 2014 Table 3: Competitive Benchmarking for Family Businesses in Developed and Emerging Economies Table 4: Ease of Doing Business Rankings for Developed and Emerging Economies, 2013 Table 5: Cultural Influence on Family Businesses in Developed and Emerging Economies Table 6: Developed Economies – Family Business Frequency by Country, 2012 Table 7: Developed Economies – Family Businesses’ Contribution to National GDP (%), 2012 Table 8: Key Business Families in the US by Industry, 2014 Table 9: Key Business Families in Canada by Industry, 2013 Table 10: Key Business Families in the UK by Industry, 2014 Table 11: Key Business Families in Germany by Industry, 2014 Table 12: Key Business Families in Australia by Industry, 2014 Table 13: Key Business Families in Singapore by Industry, 2014 Table 14: Developed Economies – Wealth Management Services for Family Businesses Table 15: Developed Economies – Major Family Offices by AuM (US$ Million), 2012–2013 Table 16: Developed Economies – Key Strategies to Target Succession Planning Services for Family-Owned Business Table 17: Emerging Economies – Family Business Weightage by Country, 2012 Table 18: Emerging Economies – Family Business Contribution to National GDP (%), 2012 Table 19: Key Business Families in China by Industry, 2014 Table 20: Key Business Families in the Philippines by Industry, 2014 Table 21: Key Business Families in Malaysia by Industry, 2014 Table 22: Key Business Families in Mexico by Industry, 2014 Table 23: Key Business Families in India by Industry, 2014 Table 24: Key Business Families in Indonesia by Industry, 2014 Table 25: Emerging Economies – Wealth Management Services for Family Businesses Table 26: Emerging Economies – Domestic Wealth Management Services for Family Businesses Table 27: Emerging Economies – Examples of Islamic Banks List of Figures Figure 1: Developed Economies – Family Business Owners by Age Band, 2013 Figure 2: Developed Economies – Family Business Owners by Gender, 2013 Figure 3: Industry Concentration of Family Businesses in the US, 2013 Figure 4: Industry Concentration of Family Businesses in Canada, 2013 Figure 5: Industry Concentration of Family Businesses in the UK, 2013 Figure 6: Industry Concentration of Family Businesses in Germany, 2013 Figure 7: Industry Concentration of Family Businesses in Australia, 2013 Figure 8: Industry Concentration of Family Businesses in Singapore, 2013 Figure 9: Emerging Economies – Family Business Owners by Age Band, 2013 Figure 10: Emerging Economies – Family Business Owners by Gender, 2013 Figure 11: Industry Concentration of Family Businesses in China, 2013 Figure 12: Industry Concentration of Family Businesses in the Philippines, 2013 Figure 13: Industry Concentration of Family Businesses in Malaysia, 2013 Figure 14: Industry Concentration of Family Businesses in Mexico, 2013 Figure 15: Industry Concentration of Family Businesses in India, 2013 Figure 16: Industry Concentration of Family Businesses in Indonesia, 2013 Figure 17: Emerging Economies – Real GDP Growth, 2003–2013
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