Wealth Management and Private Banking Services in Developing Markets

12 Pages Posted: 11 Sep 2015 Last revised: 16 Nov 2015

See all articles by Bryane Michael

Bryane Michael

University of Oxford

Christopher Andrew Hartwell

CASE - Center for Social and Economic Research; Department of International Management

Gary Ho

SQW-China Ltd

Date Written: August 1, 2015

Abstract

How should wealth managers and private bankers find and serve the wealthy in developing countries? They should enter those countries where overall wealth is expected to grow and where the proportion of affluent people is expected to grow. This paper shows the factors within a country that influence levels of wealth, changes in wealth, and the proportion of affluent investors and argues that wealth managers should enter the countries with those characteristics, particularly countries with a strong rule of law. The authors also find evidence that advanced wealth management and private banking services may help grow a wirehouse’s book of business in developed — but not necessarily developing — markets. In developing countries, the quality of institutions plays a determining role in creating wealth and increasing the number of high-net-worth individuals.

Keywords: wealth management, private banking, high net worth, wirehouse, HNWI

JEL Classification: D31, E01, E21, O10

Suggested Citation

Michael, Bryane and Hartwell, Christopher Andrew and Ho, Gary, Wealth Management and Private Banking Services in Developing Markets (August 1, 2015). Journal of Investment Consulting, Vol. 16, 1, pg. 10-19, 2015. Available at SSRN: https://ssrn.com/abstract=2650199

Bryane Michael (Contact Author)

University of Oxford ( email )

South Parks Road
Oxford, Oxfordshire OX1 3QY
United Kingdom

HOME PAGE: http://users.ox.ac.uk/~scat1663/

Christopher Andrew Hartwell

CASE - Center for Social and Economic Research ( email )

Al. Jana Pawła II 61/212
Warsaw, 01-031
Poland

Department of International Management ( email )

ul. JagielloDska 57/59
Warsaw, 03-303
Poland

Gary Ho

SQW-China Ltd ( email )

12th Floor, Yue On Commercial Building
385-387 Lockhart Road, Wanchai
Hong Knog
China

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