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Six Key Takeaway's from BCG's 15th annual report on the Global Wealth Management

Mumbai, June 17: Here are six key takeaways from the Boston Consulting Group’s (BCG) 15th annual report on the global wealth-management industry from its report titled Winning the Growth Game: Global Wealth 2015.

1.    Just 928 households own one-fifth of India’s private financial wealth. The number of Indian ultra-high net worth households (households with wealth over $100 million) in 2014 was 928. The percentage of private financial wealth they own is 20%. This measure is projected by BCG to go up to 24% by 2019.

2.    Indian households with financial wealth of more than $1 million own 36% of private financial wealth in the country. The share of those with over $1 million in financial assets has gone up from 33% of total private financial wealth in 2009 to 36% in 2014. Their share is projected to go up to 38% by 2019. The BCG 2015 global wealth report doesn’t say how many households in India had financial wealth of more than $1 million. However, their 2014 report said that India had 175,000 millionaire households in 2013.

3.    The rate of growth of wealth of those with more than $100 million is projected to be the highest among all wealth groups in the next five years. In India, the wealth of this group is expected to grow at a compounded annual growth rate (CAGR) of 26%.

4.    India ranks fourth globally among countries having the largest number of ultra-net worth households. The US remained the country with the largest number of ultra-net worth households at 5,201, followed by China at 1,037, the UK at 1,019, India at 928, and Germany at 679.

5.    Share of millionaire households will grow further. Millionaire households (those with more than $1 million in private financial wealth) held 41% of global private wealth in 2014, higher than 40% in 2013. Their share is expected to rise to 46% of the global private wealth in 2019.

6.    The Asia ex-Japan region is predicted to overtake North America by 2019 in terms of private financial wealth. Asia-Pacific (ex Japan) is expected to grow at a CAGR of 9% from 2014-2019 while BCG predicts North America to grow at a slower pace of 4.2%. By 2019, the Asia Pacific (ex-Japan) region is expected to have 34% of global wealth, up from 29% in 2014. In contrast, North America’s share of global wealth is expected to decline from 31% in 2014 to 28% by 2019.

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