Wealth in Saudi Arabia: HNW Customers

Summary
Part of a two-part series, Wealth in Saudi Arabia: HNW Customers analyzes the profile of Saudi HNW individuals, from their investments to product demand to sources of wealth. This report is based on our 2014 Global Wealth Managers Survey. The results of the survey are accompanied by best-practice case studies on how to target Saudi HNW individuals where applicable.


Synopsis
- Understand the major sources of HNW wealth in Saudi Arabia and the industries from which it has been amassed.
- Interpret the investment portfolios of Saudi HNW individuals through detailed asset allocation analysis.
- Evaluate product and service demand among Saudi HNW individuals, from discretionary asset management to art advisory and philanthropy services.
- Analyze the best methods to capture new Saudi HNW clients and how best to maintain communication throughout the client relationship.

Reasons?To?Buy
- How do Saudi HNW individuals amass their wealth?
- What investments make up an average Saudi HNW investment portfolio?
- Which wealth management products and services are in demand in Saudi Arabia?
- How often do Saudi wealth managers contact their clients through email, social media, and face-to-face meetings?
- How do Saudi HNW individuals compare to their global peers?

Key Highlights
A relationship manager's own contacts are crucial in the client acquisition process. Brand-building efforts such as loyalty programs and client events are crucial if wealth managers are to avoid losing clients when a relationship manager moves on.

HNW entrepreneurs' business and personal finances are often intertwined, and wealth managers need to be able to address both. Wealth managers lacking the necessary expertise should consider partnerships.

In Saudi Arabia business is done with "friends." Building relationships takes time, and regular face-to-face meetings are expected. Although digital channels help reduce costs they should be regarded as an addition to more direct channels, not a substitute.