Marketing Development Strategy for Wealth Management Products to Increase High Net Worth Individual (HNWI) Customers

Rizka Aula  Assaf; Eddy Jusup  Supardi; Juanim  Juanim

Authors

Rizka Aula Assaf International Women University, Bandung, Indonesia
Eddy Jusup Supardi Universitas Pasundan, Bandung, Indonesia
Juanim Juanim Universitas Pasundan, Bandung, Indonesia

Keywords:

Wealth Management, HNWI, Holistic Marketing Management, Marketing Strategy.

Abstract

This study aims to identify, examine and obtain analysis results regarding Retail Banking marketing management, Wealth Management marketing management, factors that may hinder the development of Wealth Management product marketing strategies, Wealth Management service product marketing development strategies in the future carried out by Permata Bank so that Bank Permata can increasing HNWI customers. The research method used is a qualitative method with a single case study approach. The research results show that there are inhibiting factors for the marketing of PermataBank's wealth management services, which consist of internal company factors (employee factors and product limitations factors); and external environmental factors (competitor factors and government regulatory factors). The marketing development strategy for wealth management products is carried out by PermataBank to increase HNWI customers by developing multichannel distribution, expanding strategic partnerships, implementing a strategy to expand the target of millennial customers and increasing the capabilities of frontliners (relationship managers).

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