Wealth confidence across Asia is above the
global average, with stronger investor attitudes and a focus on
higher money goals for 2011 within the high net worth (HNW)
segment.

Scorpio’s inaugural 2011 Future Priority
report found a majority (81%) of the 1800 Asian millionaires
sampled said they would make money in the next 12 months – 10%
higher than the global average and 21% up on the past 12
months.

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Confidence variable across
Asia

Investor confidence varied by country, with
the wealthy in Indonesia, India, Malaysia and China showing higher
levels of confidence about growing their wealth in 2011.

The Standard Chartered sponsored report found
those in India want to be seen as financial leaders and innovators
within their business, mirroring the push in private bank
Non-Resident Indians advisory offerings for the Indian HNW
segment.

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The majority (82%) of respondents in Hong Kong
had specific financial goals, but were the least confident about
their wealth increasing in the next 12 months among Asian HNW.

 

No ‘one-size-fits-all’
solution

Standard Chartered global head premium banking
Foo Mee Har said the report confirmed there was no ‘one size fits
all’ solution when it came to understanding the priorities and
needs of the wealthy across Asia.

“This target customer is ambitious and
confident of their abilities. These individuals are Asia’s
lieutenants of industry who aim to become the captains of industry
within a short space of time,” said Sebastian Dovey, Scorpio
Partnership managing partner.

Scorpio’s study sampled HNW banking clients in
10 different countries with average wealth of $1.3m.