This IDC Financial Insights report examines the development of the wealth management industry in Asia/Pacific through a country-by-country commentary of the region's most significant HNWI hotspots. Resilient consumer demand and current account fundamentals continue to provide an impetus for wealth creation. In 2013, financial initiatives from the private and public sector will be oriented toward the creation of sustainable business models that can capture these new avenues of profit.
Ho Sui-Jon, market analyst at IDC Financial Insights, remarks that the expanding Asia/Pacific upper middle class has led to an explosive growth in the mass affluent segment — a niche that can no longer be satisfied by the conventional intermediary solutions of conservative FSIs, but through value-added advisory functions that ably fulfills their goal for wealth accumulation while permitting active client involvement. "Policy barriers have begun to abate in once-insular Asia/Pacific markets — we note a convergence of regulations surrounding market participation and financial technologies that, while regulations may not necessarily make business easier, will certainly grant the fragmented region much-needed clarity."
IDC Financial Insights also observes top global vendors in articulating strong Asia/Pacific aspirations for their wealth management offerings in the upcoming years, a response to the IT spending peak demonstrated by the region in this particular technological space. Ho Sui-Jon adds, "Faster means of data reconciliation over broader, international markets is a challenge that the organizational IT must meet. Individual and institutional clients alike will impose higher service-level expectations concerning turnaround times, deployment periods, and system availability as they themselves seek to further their own regional ambitions."
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THE BLACKROCK NEW YORK INVESTMENT QUALITY MUNICIPAL TRUST, INC., ASIA PACIFIC BANKING(REPUBLIC), SANCHEZ COMPUTER ASSOCIATES INTERNATIONAL INC., PT BNI Securities Investment Management, FIDELITY NATIONAL INFORMATION SERVICES, INC., SunGard Capital Corp., THOMSON REUTERS (MARKETS) EUROPE SA SPOLKA AKCYJNA ODDZIAL W POLSCE, First Commercial Bank, CITIBANK INTERNATIONAL PLC, Tata Consultancy Services Limited, AURUM TECHNOLOGY INC, FIDELITY INFORMATION SERVICES SARL, IP Investimenti e Partecipazioni S.r.l., Deutsche Securities Inc., Thomson Reuters Corporation