Serving fee-based financial advice to high net worth clients in China via an internet distribution model is one option that should be seriously considered before the decade is out, according to research company dragondata.
With $1.3trn in domestic savings and some 114 million persons already of sufficient wealth to fit the high net worth label in the UK, the opportunities are expected to grow substantially once the Chinese banking sector opens up further to foreign businesses in 2007. And UK businesses are well placed, according to a survey of some 4,000 Chinese HNWIs. Most lack trust in the domestic financial services industry, and that they are unable to provide high quality good value products, with sufficient levels of service. Association with foreign providers is seen as a way to improve these...
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