Benchmark Private Banking is the Format Research Observatory on “private” customers (HNWI – High Net Worth Individuals ), i.e. those who have available assets equal to or greater than one million Euros.
The study has been carried out annually since 2016.
It is a multiclient product, therefore characterized by an accessible subscription cost, open to any customisation by the subscribers, the results of which will remain their property and will not be disclosed to third parties.
WHAT THE STUDY CONSISTS OF
The Observatory consists of a continuous survey carried out with the interview method and based on a statistically representative sample of the universe of interest. The sample size varies from 600 to 800 cases. Private families are asked to answer the questionnaire by means of face-to-face personal interviews, or if they prefer, via CAWI, after being contacted personally. The survey is generally carried out in the months of October and November. The results are made available in the period December – January and are segmented based on the area of residence of the HNWIs and the banks they use.
THE PHENOMENA CONSIDERED
In addition to tracing the perimeter of the HNWI segment in our country, analysing its characteristics and the evolution of time, the study also profiles private customers according to topics such as, for example, the Banks used (how many and which ones), the Banks whose offer in terms of services for HNWIs is deemed most suitable, the products and services used and/or requested by HNWIs, the level of customer satisfaction.
WHAT IT ALLOWS TO DO
The Observatory, thanks to its methodological approach and the topics covered, can ensure particularly reliable results. The subscriber who wishes to customize the survey can, among other things, isolate and analyse their customers, comparing them with the customers of the other banks in a benchmark logic. To understand, for example, which levers your Bank should focus on to attract HNWI customers who are currently allocated to other entities; to identify your strengths and weaknesses with respect to the service offerings of the other competitor brands; to understand which services contribute the most to influencing the customer’s choice.
SOME IN-DEPTH DETAILS REGARDING THE ISSUES AND SERVICES TREATED
Asset management: Funds of funds, Asset management, Securities deposit, Administrative savings consultancy, Securities lending, Mutual funds.
Alternative investments: Real estate, Hedge funds, Private Equity .
Real estate consultancy: Evaluations and market research, Valorisation of clientele existing real estate assets.
Fiduciary services: Fiduciary mandates for the purchase/sale of properties, works of art, etc., Trusts, Foundations.
Art advisory : Assistance in the sale, Precious metals, estimates and appraisals, management and enhancement of the artistic heritage.
Family office services.
Wealth management: legal and fiscal consultancy, generational handover planning consultancy.
OTHER ACTIVITIES AND STUDIES
In Italy there are about 120 subjects operating in the private market and offering a wide range of services: Banking (full-operation current account, dedicated credit cards, mortgage loans), Asset Management (securities deposit, asset management, mutual funds, funds of funds), Fiduciary services, Art advisory, etc. Format Research monitors the structure of the market offer, including both the banking and non-banking entities that operate in it, as well as the services offered.