Belgium is a challenging market for competitors operating in the country. Since the global financial crisis the market has been characterized by retrenchment rather than organic growth. To be successful in Belgium wealth managers must fully understand the competitive dynamics of the market. Here Verdict Financial takes an in-depth look at the competitive scene in Belgian wealth management.
Understand the market through analysis of different business models and how they derive income.
Analyze the current recruitment situation for private bankers and average salaries.
Interpret competitive trends in the market through a breakdown of M&A, organic growth, and partnership developments.
Assess your competition through detailed profiles of notable players, including the customer targeting, marketing, and product strategies they employ.
What business model is most prominent in the Belgian wealth management industry?
How has regulatory change and the global financial crisis influenced the Belgian wealth management industry?
What are key players doing to access the Belgian affluent population?
Private banks dominate the Belgian competitive landscape, with integrated private banks taking the majority of assets under management from this sector and standalone private banks remaining niche.
Other types of wealth managers are present in the market including assets managers, family offices, and brokerages; however, these types of firms hold considerably less market share than private banks.
The competitive landscape in Belgium has been deeply affected by the financial crisis, with the proceeding years characterized by retrenchment rather than organic growth. In 2008 three of the largest banks in Belgium had to be bailed out, which has continued to have an effect on the Belgian market into 2013.