Challenges and Opportunities for the Wealth Sector in Canada 2013

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Date:28-Feb-2013
No. of pages: 66
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Synopsis

•This report is the result of WealthInsight’s extensive research covering the high net worth individual (HNWI) population and wealth management market in Canada.

Summary

This report is a thorough analysis of the Canadian Wealth Management and Private Banking sector and the opportunities and challenges that it faces.

Scope

  • •Independent market sizing of Canadian HNWIs across five wealth bands
  • •Number of wealth managers in each city
  • •City wise ratings of wealth management saturation and potential
  • •Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in Canada
  • •Size of the Canadian wealth management industry
  • •Largest domestic private banks by AuM
  • •Detailed wealth management and family office information
  • •Insights into the drivers of HNWI wealth

Reasons To Buy

  • The WealthInsight Intelligence Center Database is an unparalleled resource and the leading resource of its kind. Compiled and curated by a team of expert research specialists, the database comprises dossiers on over 60,000 HNWIs from around the world.
  • •The Intelligence Center also includes tracking of wealth and liquidity events as they happen and detailed profiles of major private banks, wealth managers and family offices in each market.
  • •With the Database as the foundation for our research and analysis, we are able obtain an unsurpassed level of granularity, insight and authority on the HNWI and wealth management universe in each of the countries and regions we cover.

Key Highlights

  • There are just over 422,000 HNWIs in Canada in 2012. These HNWIs hold US$1,529 billion in wealth which equates to 26% of total individual wealth held in the country.
  • •Canadian HNWIs outperformed the worldwide HNWI average during the review period – worldwide HNWI volumes decreased by 0.3% whilst Canadian HNWI numbers rose by 1.8%.
  • •In 2012, Canadian HNWI numbers rose by 7.7%, following a drop of 3.6% in 2011.
  • •Growth in HNWI wealth and volumes are expected to improve over the forecast period. The total number of Canadian HNWIs is forecast to grow by 29%, to reach over 544,000 in 2017. HNWI wealth will see a smaller percentage increase, growing by 28% to reach US$1,949 billion by 2017.
  • •The global private banking industry was estimated to have AuM of just over US$19.3 trillion at the end of 2012. The Canadian wealth management sector accounted for approximately US$600 billion of this, equating to 3.1% of the global total.
  • •The US$600 billion equates to 42% of Canadian HNWI wealth (US$1.5 trillion), well above the global average of 25%. This shows that the local HNWI base is relatively well served.
  • •It should be noted that the bulk of Canadian AuM are held by RBC which had global AuM of US$343 billion at the end of 2012 and local AuM of US$195 billion.

Challenges and Opportunities for the Wealth Sector in Canada 2013

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 Benchmarking Canada Wealth in Context
3.3.1 World Statistics
3.3.2 Distribution of wealth in Canada
3.4 HNWI Volume and Wealth Trends

4 Competitive Landscape of the Wealth Sector
4.1 Competitive landscape
4.1.1 Private Banks
4.1.2 Wealth Managers
4.1.3 Family offices
4.1.4 Financial Advisors
4.2 Developments in Canada's Private Banking Industry
4.3 Canada's Wealth Management Industry - Clientele Model and Maturity
4.4 Behavioral Mapping of Wealth Management and Private Banking Industry in Canada
4.5 Porter's Five Force Analysis - Wealth Management Industry in the Canada
4.6 Financial Services Review
4.6.1 Retail banks
4.6.2 Fund Management

5 Appendix 41
5.1 Additional Components of the Wealth Sector in Canada
5.2 Regulations on Taxes
5.3 Regulations Related to Immigration, Investment and Employment
5.4 Key Drivers
5.4.1 LC to US$ exchange rate
5.4.2 Real GDP growth
5.4.3 Per capita GDP
5.4.4 Domestic market capitalization
5.4.5 Commodity index
5.4.6 Foreign direct investment
5.4.7 Inflation rate
5.4.8 Interest rate
5.4.9 Balance of payments
5.4.10 Government debt
5.4.11 Stock market performance
5.5 Wealth Breakdowns

6 About WealthInsight

List of Tables

Table 1: HNWI Wealth Band and Group Definitions
Table 2: Canada: Regions in Canada, 2012
Table 3: Canada: Largest 10 Cities in Canada, 2012
Table 4: Canada: Fastest growing cities in Canada by population, 2006 - 2011
Table 5: Canada: Fastest growing cities in Canada (economic growth), 2011 - 2012
Table 6: Canada: Major Private Banks by local AuM, 2012
Table 7: Canada: Other Private Banks by global AuM, 2012
Table 8: Canada: Wealth Managers Per City
Table 9: Canada: Largest Wealth Managers, 2012
Table 10: Canada: Other Wealth Managers, 2012
Table 11: Canada: Family Offices, 2012
Table 12: Canada: Financial Advisors by City, 2012
Table 13: Canada: Wealth Management Industry - Recent M&A Activity
Table 14: Canada: Income Tax Brackets, 2012
Table 15: Canada: VAT by State, 2012
Table 16: Canada: Provincial corporate tax rates, 2012
Table 17: Canada: LC to USD Exchange Rate, 2007-2017
Table 18: Canada: Real GDP Growth, 2007-2017
Table 19: Canada: GDP Per Capita, 2007-2017
Table 20: Canada: Domestic Market Capitalization (US$ Billions) 2007-2011
Table 21: Canada: Commodity Indices, 2007-2017
Table 22: Canada: Foreign Direct Investments (US$ Billions) 2007-2017
Table 23: Canada: Inflation Rate, 2007-2017
Table 24: Canada: Money Market Rate, 2007-2017
Table 25: Canada: Balance of Payments (US$ Billions) 2007-2012
Table 26: Canada: Government Debt to GDP, 2007-2017
Table 27: Canada: Stock Market Performance, 2007-2012
Table 28: Canada: HNWI Wealth vs GDP Ratio, 2007-2017
Table 29: Canada: Appendix One
Table 30: Canada: Appendix Two

List of Figures

Figure 1: HNWI Wealth Band Definitions
Figure 2: Canada: Map
Figure 3: Canada: Asset Price Performance, 2007-2012
Figure 4: Canada: HNWI Performance, 2007-2017
Figure 5: Canada: Canadian HNWIs vs the World
Figure 6: Canada: Wealth Management Industry - Maturity Level of Players
Figure 7: Canada: Wealth Management Industry - Behavioral Mapping, 2012
Figure 8: Canada: Wealth Management Industry - Five Forces Analysis
Figure 9: Canada: LC to USD Exchange Rate, 2007-2017
Figure 10: Canada: Real GDP Growth (%), 2007-2017
Figure 11: Canada: GDP Per Capita, 2007-2017
Figure 12: Canada: Domestic Market Capitalization (US$ Billion) 2007-2011
Figure 13: Canada: Commodity Indices, 2007-2017
Figure 14: Canada: Foreign Direct Investments (US$ Billion) 2007-2017
Figure 15: Canada: Inflation Rate, 2007-2017
Figure 16: Canada: Money Market Rate, 2007-2017
Figure 17: Canada: Balance of Payments (US$ Billion) 2007-2012
Figure 18: Canada: Government Debt to GDP, 2007-2017
Figure 19: Canada: Stock Market Performance, 2007-2012
Figure 20: Canada: HNWI Wealth vs GDP Ratio, 2007-2017
Figure 21: Canada: HNWIs - Volume by Wealth Band, 2007-2017
Figure 22: Canada: HNWIs - Wealth by Wealth Band (in US$ Billion), 2007-2017
Figure 23: Canada: HNWIs - Wealth Per Capita (in US$ Billion), 2007-2017

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