Wealth Management.ppt

Wealth Management Craig Coleman Managing Director Australia and New Zealand Banking Group Limited 24 August 2001 Background and dimensions Established 1/10/00 Private Bank, Premier (Personal Banking), Financial Planning Not the FM business (ANZ Investments) 522,000 mass affluent customers 24% captured mass affluent 76% touched by ANZ 216,000 directly managed Frontline Staff 310 Planning Staff 108 Specialists 199 Relationship Staff 130 NZ $34 billion FUA 24% Managed Investment 51% Mortgages 25% Banking Products A specialist approach to wealth management Growth earnings growth investment Different business model and focus customer offer Opportunity large, execution risk low $115b in uncaptured balances Targeting strong growth from a low base Where we choose to specialise Mass Affluent segment All financial needs Advice and distribution Personalised Advice-based solutions Life event or goal driven Choice of involvement Holistic Relationship knowledge and specialist expertise Complete but select product offer Multiple channels, consistent experience Non-conflicted Best of breed product and services Optimise for the customer FUA dominates incentive structure Large opportunity, execution risk low Three Strategies to Drive Performance and Growth Adviser effectiveness - productivity Adviser effectiveness - capacity More planners Internal ‘pipeline’ supplemented by external recruitment Adviser Workbench Channel integration and education Practices model Our Timetable – perform and grow A specialist approach to wealth management Page * Profit After Tax Cost Income $m % FUA $bn Targets 2001-2004 NPAT CAGR 25% FUA CAGR 15% Cost to Income 59% by 2004 Advice Distr. Admin Manuf. Protection Advice Distr. Admin Manuf. Banking Products Advice Distri- bution Admin Asset Mgt Advice Distr. Admin Manuf. Managed Investments Mortgages Our customer proposition Other ANZ Share 28.3% 1.9m $115b of untapped balances Touch a high number of affluent customers Significant untapped custo