FOREWORD | OUR RESEARCH | 2020 AND COVID-19 | 1. TRANSPARENCY | 2. RELOCATION | 3. FAMILY & GENERATIONAL WEALTH | 4. THE ADVISER OF THE FUTURE | ABOUT BDO
OUR RESEARCH | KEY FINDINGS AT A GLANCE
OUR RESEARCH
BDO’s World of Private Clients research programme was launched to provide a forensic understanding of sentiment among the global private client community. In particular, we have sought to understand how private clients, next generation wealth holders and the professional advisory community are seeking to navigate the plethora of short-, medium- and long-term risks and opportunities that define the global economy. While initiatives aimed at better understanding the trends driving the private wealth landscape have come before, never has such research been conducted at a time that is so drastically defined by the radical upheaval and cultural and economic reset that we see today. A sea-change is upon us, which is both impacting, and being impacted by, the wealthy. The volume, variety and velocity of change warrant a deeper exploration of both its underlying drivers and its future implications. The actions that wealth owners
SURVEY RESPONDENT AND INTERVIEWEE OCCUPATION
private client / hnwi 49%
private client: next generation / family member 4% member or employee of family business 8%
take now will define the private client landscape for years to come and influence everything from regulation through to wider societal trends that develop in tandem with economic recovery. Through quantitative and qualitative inspection and analysis of where we are today, and what brought us here, we will be better equipped with the understanding and foresight to navigate the road ahead. As part of our research, we conducted an online survey to gather the views of 350+ private clients and professional advisers across 16 jurisdictions globally. We also undertook more than 25 in-depth qualitative interviews with wealth owners, the next generation and intermediaries from key private client hubs including Australia, Cyprus, Hong Kong, Singapore, Switzerland, the UK and US. To help encourage the open sharing of thoughts and insights, interviewees were informed that they would be quoted anonymously in this report.
SURVEY RESPONDENT AND INTERVIEWEE LOCATION
other 8%
professional adviser to family office / hnwi community 32%
sweden
uk
ireland
netherlands luxembourg switzerland
canada
belarus
austria
france monaco
liechtenstein
greece montenegro
usa
azerbajan
spain
malta
cyprus
afghanistan
china
bahamas
anguilla
cayman islands
bvi
antigua & barbuda
philippines
grenada
panama
malaysia singapore
trinidad & tobago
australia
south africa
new zealand
WORLD OF PRIVATE CLIENTS | NOVEMBER 2020 4
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