Expats Are Lucrative Australian Wealth Management Target - Study

Editorial Staff

14 September 2023

A report about the Australian wealth management market notes that expats constitute 20.9 per cent of the local high net worth population and represent a lucrative target because of their more complex service requirements.

The report, Australia Wealth Management - High Net Worth Investors, 2023 Update, has been added to ResearchAndMarkets.com.

This report sizes the opportunity within Australia's wealth market and analyzes the investment preferences, service requirements, and portfolio allocations of its HNW investors. The report is based on the publisher's proprietary Global Wealth Managers Survey.

Australia's HNW market is dominated by older professional males. HNW investors have mainly sourced their wealth from earned income, while entrepreneurial income and inheritance form smaller yet growing sources, it said.

Discretionary mandates have the highest demand, yet offering a multi-service proposition underpinned by a proven ability to demonstrate returns will be key to tapping into demand. A growing appetite for discretionary mandates and alternative investments provide arguably the most significant growth opportunities for wealth managers in the foreseeable future.

Among other details robo-advice accounts for 12 per cent of the Australian HNW portfolio. Equities, bonds, and cash and near-cash investments dominate the Australian HNW asset portfolio, the report said.