Introduction
This report provides a detailed exploration of the current state of mass affluent offerings and premier banking services around the world, and constructs a prototype mass affluent offering based upon the analysis of case studies, which draws out the critical factors involved in creating a successful proposition.
Scope of this report
Assesses the mass affluent service provided by 8 leading banking networks worldwide
Includes insight from those within the industry regarding the development of mass affluent services
Research and analysis highlights
Global banks tend to pick and choose the markets in which their mass affluent service is launched, depending on the profile of that country. For example, despite having a presence across a number of markets, ABN Amro has chosen only to offer Van Gogh Preferred Banking in selected markets.
The non-banking side of many mass affluent offerings provides lifestyle benefits that are completely separate from the banking side of the offering. However, the more advanced mass affluent offerings are those that incorporate banking issues into the non-banking side, providing a rounded service.
Clients should be able to rely on their Ultimate Offering relationship manager to fulfill two main ongoing functions: to continuously monitor the state of their finances, reporting regularly to the client, and to take a proactive role in improving their clients' financial health.
Key reasons to read this report
Gain insight into the successful mass affluent services offered by global competitors
Understand the variation in market standards for mass affluent services worldwide
Discover the key factors determining the success or failure of mass affluent offerings in a variety of markets
Table of Contents
CHAPTER 1 INTRODUCTION
8
Overview
8
The basic measures of success
8
CHAPTER 2 CRITICAL FACTORS
10
Introduction
10
There are 11 critical factors for successful mass affluent banking offerings in Europe
10
An offering can be improved through its marketing and added value areas
14
CHAPTER 3 CASE STUDIES
17
Introduction
17
ABN Amro Van Gogh Preferred Banking
17
Introduction
17
ABN Amro's Van Gogh Preferred Banking competes closely with local banks in the Asian mass affluent market
18
Van Gogh Preferred Banking's financial offering is built around the needs of international clients
19
Van Gogh Preferred Banking offers added value to clients in the form of special events
19
Bank of America Premier Banking and Investments
20
Introduction
20
Premier Banking and Investments offers a service in which specialist attention is given to investment performance
21
The investment aspect of the offering is tailored to give clients as much autonomy over their investments as they wish
21
The Client Manager works in close conjunction with the Financial Advisor to offer a rounded service
22
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