Winterthur MD outlines high net worth strategy

3 May 2007

David Thompson, managing director, Winterthur, has advised IFAs that they must adapt urgently their proposals for high net worth clients to reflect the evolving market, in which competition is mounting fast from wealth managers, bancassurers and private banks.

Speaking today in Southampton, midway through the Winterthur ‘A Wealth of High Net Worth Expertise’ roadshow, Thompson stressed the importance of offering a proposition encompassing will writing and investments, as well as IHT, retirement and tax planning, in order to fully service the needs of high net worth clients. This must also be backed with a high level of customer service and a flexible investment offering.

He also underlined the importance of adding real value to the relationship in view of a significant behavioural change that has seen the steady increase in the number of high net worth individuals who are self-directed when it comes to making financial decisions.

Thompson identified the key drivers effecting change in the growing high net worth market: “The high net worth market is experiencing significant growth – up 10% last year with a further 10% growth expected this year1. This must be a huge market for advisers to penetrate, with clients typically cash rich, time poor. With an average age of 55, this group is the fastest growing sector of the UK population and it controls 80% of wealth2.”

Thompson underlined Winterthur’s commitment to providing specialist investment and retirement solutions, distributed through quality IFAs to high net worth clients. “In order to meet the changing shape of the market our priorities going forward will be to expand our presence and product portfolio and build on our service proposition and technological resources. This is an exciting time of change and we are ready to lead the way forward in the high net worth market.”

During the nationwide roadshow David Thompson identified Winterthur’s target market as spanning ‘Mass affluent’ individuals possessing at least £100,000 investable assets, with the core being ‘High Net Worth’ with over £250,000 in investable assets. He went on to emphasise Winterthur’s growing presence in the High Net Worth market, revealing a 55% increase in its high net worth advisers in 2006 from 2005 and outlining a further 35% targeted growth for 2006-2007, stressing that further expansion of this presence is a key target for the Winterthur strategy going forward.

The remaining roadshow venues and dates:

To reserve your place email IFAsales.support@winterthur-life.co.uk or call 0870 112 1123 with your choice of venue. Alternatively, reserve your place online at www.winterthur-life.co.uk

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1 Source: MDRC – The UK High Net Worth Market 2006
2 Source: TGI Gold 2003

For further information:

Paul Riddell Winterthur Life, Press Office +44 (0)1256 798099
Christine Wood FD +44 (0)20 7269 7253

Notes to Editors

About Winterthur Life UK Limited

Winterthur Life UK Limited is part of AXA Group, one of the largest financial institutions in the world.

Winterthur Life UK Limited is a provider of focused investment and retirement solutions and support services predominantly distributed through quality IFAs to their high net worth clients.

The company is recognised as having an innovative approach to financial products and its products feature simple, transparent charging with access to a wide range of carefully selected investment funds and fund managers via its Tailored Selection fund platform. Winterthur is also differentiated in the market through its focus on service excellence.

Winterthur Life UK Limited has a B+ financial strength rating from AKG, which denotes “very good financial strength”. At the end of 2006 Winterthur had assets under management exceeding £10 billion, and grew its new pensions business by 125% to £1.45 billion.

www.winterthur-life.co.uk