Synopsis
This report is the result of WealthInsight’s extensive research covering the high net worth individual (HNWI) population and wealth management market in Germany.
Scope
• Independent market sizing of Germany's HNWIs across five wealth bands
• HNWI volume, wealth and allocation trends from 2009 to 2013
• HNWI volume, wealth and allocation forecasts to 2018
• HNWI and UHNWI asset allocations across 13 asset classes
• Geographical breakdown of all foreign assets
• Alternative breakdown of liquid vs investable assets
• Number of UHNWIs in major cities
• Number of wealth managers in each city
• City ratings of wealth management saturation and potential
• Details of the development, challenges and opportunities of the wealth management and private banking sector in Germany
• The size of Germany's wealth management industry
• The largest private banks by AuM
• Detailed wealth management and family office information
• Insights into the drivers of HNWI wealth
Summary
This report reviews the performance and asset allocations of HNWIs and ultra-HNWIs in Germany. It also includes an evaluation of the local wealth management market.
Reasons To Buy
• The Germany Wealth Report 2014 is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the report comprises a wide variety of data that is created based on over 125,000 HNWIs from around the world in WealthInsight's database.
• With the wealth reports as the foundation for its research and analysis, WealthInsight is able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions it covers.
• The report reviews the performance and asset allocations of HNWIs and ultra-HNWIs. The report also includes projections of the volume, wealth and asset allocations of the HNWIs to 2018 and a comprehensive background of the local economy.
• The report provides a thorough analysis of the private banking and wealth management sector, the latest merger and acquisition activity, and the opportunities and challenges that it faces.
• It also provides detailed information on HNWIs volumes in each major city.
Key highlights
• There were 1,356,523 HNWIs in Germany in 2014. These HNWIs held US$4.4 trillion in wealth.
• In 2014, German HNWI numbers rose by 2.3%, following the 2013 increase of 4.2%.
• Growth in HNWI wealth and volumes are expected to improve over the forecast period. The total number of German HNWIs is forecast to grow by 24.2% to reach 1,745,942 in 2019. HNWI wealth will record a significant percentage increase, growing by 45.6% to reach US$6.6 trillion by 2019.
• At the end of 2014, German HNWIs held 34.9% (US$1.5 trillion) of their wealth outside their home country, significantly higher than the worldwide average of 20–30%.
Table Of Contents
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 Social Background
3.4 Benchmarking Germany’s Wealth in Context
3.4.1 Distribution of wealth in Germany
3.5 HNWI Volume and Wealth Trends
4 Findings from the WealthInsight HNWI Database
4.1 Trends in HNWI Wealth to 2019
4.1.1 HNWI trend analysis
4.1.2 Trends of the wealth bands
4.1.3 Demographic breakdown of HNWIs
4.1.4 HNWIs – job titles
4.1.5 HNWIs – industry breakdown
4.1.6 HNWIs – industry performance
4.1.7 HNWIs – breakdown by city
4.1.8 HNWIs – city performance
4.1.9 HNWIs – city population densities
4.1.10 HNWIs – city forecasts
4.1.11 HNWIs – breakdown by state
4.1.12 HNWIs – state performance
4.1.13 HNWIs – state population densities
4.2 UHNWIs
4.2.1 UHNWI volume trend analysis
4.2.2 UHNWI wealth trend analysis
4.2.3 Demographic breakdown of UHNWIs
4.2.4 UHNWIs – industry breakdown
4.2.5 UHNWIs – city breakdown and performance
4.3 UHNWIs – Billionaires
4.3.1 Billionaire volume trend analysis
4.3.2 Billionaire wealth trend analysis
4.3.3 Billionaire per capita net worth trend analysis
4.3.4 List of billionaires
4.4 UHNWIs – Centimillionaires
4.4.1 Centimillionaire volume trend analysis
4.4.2 Centimillionaire wealth trend analysis
4.4.3 Centimillionaire per capita net worth trend analysis
4.5 UHNWIs – Affluent Millionaires
4.5.1 Affluent millionaire volume trend analysis
4.5.2 Affluent millionaire wealth trend analysis
4.5.3 Affluent millionaire per capita net worth trend analysis
4.6 Core HNWIs
4.6.1 Core HNWI volume trend analysis
4.7 Core HNWIs – Mid-Tier Millionaires
4.7.1 Mid-tier millionaire volume trend analysis
4.7.2 Mid-tier millionaire wealth trend analysis
4.7.3 Mid-tier millionaire per capita net worth trend analysis
4.8 Core HNWIs – Lower-Tier Millionaires
4.8.1 Lower-tier millionaire volume trend analysis
4.8.2 Lower-tier millionaire wealth trend analysis
4.8.3 Lower-tier millionaire per capita net worth trend analysis
5 Analysis of German HNWI Investments
5.1 Analysis by Asset Class
5.1.1 Trends in alternative assets
5.1.2 Trends in ‘art, wine and wheels’
5.1.3 Trends of investments in real estate
5.1.4 Trends of investments in cash and deposits
5.1.5 Trends of investments in fixed-income
5.1.6 Trends of investments in equity
5.1.7 Trends of Investments in business interests
5.2 Analysis of Foreign Investments
5.2.1 Investments in Europe
5.2.2 Investments in North America (Including the US, Mexico and the Caribbean)
5.2.3 Investments in the Asia-Pacific
5.2.4 Investments in South America
5.2.5 Investments in the Middle East
5.2.6 Investments in Africa
5.3 Alternative Breakdown: Liquid vs Investable Assets
5.4 Analysis of German UHNWI Investments
6 Competitive Landscape of the Wealth Sector
6.1 Competitive Landscape
6.1.1 Private banks
6.1.2 Wealth managers
6.1.3 Family offices
6.1.4 Financial advisors
6.2 Developments in the German Private Banking Industry
6.3 Wealth Management and the Private Banking Industry
6.4 German Wealth Management Industry – Clientele Model and Maturity
6.5 Behavioral Mapping of Wealth Management and Private Banking in Germany
6.6 Porter’s Five Force Analysis – the Wealth Management Industry
7 Appendix
7.1 Additional Components of the Wealth Sector in Germany
7.1.1 Philanthropy
7.1.2 Demand for intergenerational wealth transfer
7.2 Regulations on Taxes
7.3 Regulations Related to Immigration, Investment and Employment
7.4 Key Drivers
7.4.1 EUR to US$ exchange rate
7.4.2 Real GDP growth
7.4.3 Per capita GDP
7.4.4 Domestic market capitalization
7.4.5 Commodity index
7.4.6 Foreign direct investments – inflow and outflow
7.4.7 Inflation rate
7.4.8 Interest rate
7.4.9 Balance of payments
7.4.10 Government debt
7.4.11 Stock market performance
7.5 Wealth Breakdowns
8 About WealthInsight
List Of Tables
Table 1: HNWI Wealth Band and Group Definitions
Table 2: German Wealth – Population of Cities (Thousand), 2014
Table 3: German HNWIs – Volume Distribution, 2014
Table 4: German HNWIs – Wealth Distribution Wealth Pyramid (%), 2014
Table 5: German HNWIs – Industry Performance, 2010–2014
Table 6: German HNWIs – Population of Cities (Thousand), 2014
Table 7: German HNWIs – Growth in Top Cities (Thousand), 2010–2014
Table 8: German HNWIs – Population Density in Major Cities (Thousand), 2014
Table 9: German HNWIs Population in Top Cities (Thousand), 2010–2019
Table 10: German HNWIs – Growth Rates for Top Cities (%), 2010–2019
Table 11: German HNWIs – Population by State (Thousand), 2014
Table 12: German HNWIs – Population and State Growth Data (%), 2010–2014
Table 13: German HNWIs – Population Density by State (%), 2014
Table 14: German UHNWIs – Gender Performance, 2010–2014
Table 15: German UHNWIs – Source of Wealth (%), 2014
Table 16: German UHNWIs in Top Cities (Thousand), 2010–2019
Table 17: German UHNWIs Growth Rates for Top Cities (Thousand), 2010–2019
Table 18: German Billionaires – Market Overview (US$ Billions), 2010–2019
Table 19: German Top 10 Billionaires (US$ Billions), 2014
Table 20: German Billionaire Wealth Growth (US$), 2010?2014
Table 21: German Centimillionaires – Market Overview (US$), 2010–2019
Table 22: German Affluent Millionaires – Market Overview (US$), 2010–2019
Table 23: German Mid-Tier Millionaires – Market Overview (US$), 2010–2019
Table 24: German Lower-Tier Millionaires – Market Overview (US$), 2010–2019
Table 25: German Allocations of HNWI Assets (%), 2010–2019
Table 26: German HNWIs ? Holdings Growth (%), 2010–2019
Table 27: German HNWIs – Alternative Asset Composition (%), 2010–2019
Table 28: German HNWIs – Trends of Investments in Alternative Assets (%), 2010–2019
Table 29: German Trends in ‘Art, Wine and Wheels’, 2010–2014
Table 30: Global Prime Real Estate Prices per m² (US$), 2012
Table 31: German HNWIs – Percentage of Foreign Investment Allocations, 2010–2019
Table 32: German HNWIs – Liquidity Breakdown (US$ Billion), 2010–2019
Table 33: German HNWIs – Liquidity Breakdown (%), 2010–2019
Table 34: German UHNWIs – Allocations and Share of HNWI Assets, 2014
Table 35: Leading Domestic Private Banks in Germany by AuM (US$), 2014
Table 36: Leading Foreign Private Banks in Germany by AuM (US$), 2012
Table 37: German Wealth Managers, 2014
Table 38: German Family Offices, 2014
Table 39: Wealth Management Industry – Recent Deal Activity in Germany, 2014
Table 40: German Income Tax Bands (EUR), 2014
Table 41: EUR per US$ Exchange Rate (%), 2010–2019
Table 42: German Real GDP Growth (%), 2010–2019
Table 43: German GDP Per Capita (US$), 2010–2019
Table 44: German Domestic Market Capitalization (US$ Billion), 2010–2014
Table 45: German Commodity Indices, 2010–2019
Table 46: German Foreign Direct Investments (US$ Billion), 2010–2019
Table 47: German Inflation Rate (%), 2010–2019
Table 48: German Money Market Rate (%), 2010–2019
Table 49: German Balance of Payments (US$ Billion), 2010–2014
Table 50: German Government Debt as a Percentage of GDP (%), 2010–2019
Table 51: German Stock Market Performance, 2010–2014
Table 52: German HNWI Wealth vs GDP Ratio (%), 2010–2019
Table 53: Germany – Appendix One
Table 54: Germany – Appendix Two
List Of Figures
Figure 1: HNWI Wealth Band Definitions
Figure 2: Map of Germany
Figure 3: Germany’s Asset Price Performance (US$), 2010–2014
Figure 4: German HNWI Performance (US$), 2010–2019
Figure 5: German vs. Global HNWIs (US$), 2010?2014
Figure 6: German HNWIs – Growth Factor Correlation, 2010–2014
Figure 7: German HNWIs – Volume Distribution Wealth Pyramid, 2014
Figure 8: German HNWIs – Wealth Distribution Wealth Pyramid (%), 2014
Figure 9: German HNWIs – Age Distribution, 2014
Figure 10: German HNWIs – Job Titles, 2010–2014
Figure 11: German HNWIs – Distribution by Industry (%), 2014
Figure 12: German HNWIs – City Performance (Thousand), 2010–2014
Figure 13: German HNWIs – City Population Volumes (Thousand), 2010–2014
Figure 14: German HNWIs – City Forecasts (Thousand), 2015–2019
Figure 15: German HNWIs – City Population Volumes (Thousand), 2015–2019
Figure 16: German UHNWIs – Wealth Share vs. Volume Growth (%), 2010–2014
Figure 17: German UHNWIs – Volume by Wealth Band (Thousand), 2010–2019
Figure 18: German UHNWIs – Wealth by Wealth Band (US$ Billion), 2010–2019
Figure 19: German UHNWIs – Age Distribution (Percentage Share), 2014
Figure 20: German UHNWIs – Distribution by Industry, 2014
Figure 21: German Billionaires – Market Overview (US$), 2010–2019
Figure 22: German Centimillionaires – Market Overview (US$), 2010–2019
Figure 23: German Affluent Millionaires – Market Overview (US$), 2010–2019
Figure 24: German Mid-Tier Millionaires – Market Overview (US$), 2010–2019
Figure 25: German Lower-Tier Millionaires – Market Overview (US$), 2010–2019
Figure 26: German HNWIs – Asset Class Composition (%), 2010–2019
Figure 27: German HNWIs – Trends in Alternative Assets (US$ Billion), 2010–2019
Figure 28: German Trends in ‘Art, Wine and Wheels’, 2010–2014
Figure 29: German HNWIs – Foreign Investment Allocation and Growth (%), 2014
Figure 30: German HNWIs – Global Distribution of Foreign Investments (%), 2010–2019
Figure 31: German HNWIs – Liquidity Breakdown (%), 2010–2019
Figure 32: German UHNWIs – Asset Class Composition, 2010–2019
Figure 33: German Wealth Management Industry – Maturity Level of Operators
Figure 34: German Wealth Management Industry – Behavioral Mapping, 2014
Figure 35: German Wealth Management Industry – Five Forces Analysis
Figure 36: EUR to US$ Exchange Rate (%), 2010–2019
Figure 37: German Real GDP Growth (%), 2010–2019
Figure 38: German GDP Per Capita (US$), 2010–2019
Figure 39: German Domestic Market Capitalization (US$ Billion), 2010–2014
Figure 40: German Commodity Indices, 2010–2019
Figure 41: German Foreign Direct Investments (US$ Billion), 2007–2011
Figure 42: German Inflation Rate (%), 2010–2019
Figure 43: German Money Market Rate (%), 2010–2019
Figure 44: German Balance of Payments (US$ Billion), 2010–2014
Figure 45: German Government Debt as a Percentage of GDP (%), 2010–2019
Figure 46: German Stock Market Performance, 2010–2014
Figure 47: German HNWI Wealth vs GDP Ratio (%), 2010–2019
Figure 48: German HNWIs – Volume by Wealth Band, 2010–2019
Figure 49: German HNWIs – Wealth by Wealth Band (in US$ Billions), 2010–2019
Figure 50: German HNWIs – Wealth Per Capita (in US$ Millions), 2010–2019
