埃森哲PPT模板@郑来轶.ppt

? Accenture 2001 * Tips: (for information only; not part of standards, delete when finished) Resume should be limited to one page Relevant Experience entries should be no more than 1-2 sentences ? Accenture 2001 * Tips: (for information only; not part of standards, delete when finished) Resume should be limited to one page Relevant Experience entries should be no more than 1-2 sentences ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * ? Accenture 2001 * Approach Although some players are global the market currently operates on a local basis - large differences exist between financial systems and structures in different regions - so though the overall answer has been looked at globally - analysis must be carried out at a local level to understand outcomes - this presentation focuses on Europe - the US is used for comparison purposes Winning has been assessed in terms of size and growth (RTS has been looked at briefly) Complexity in answering the question “who is winning the race for retail assets?” also lies in the varying accounting treatments for different financial products. e.g. deposits lie on the balance sheet whilst mutual funds lie off balance sheet but are captured in assets under management e.g. insurance lies in both balance sheet and assets under management e.g. Retail brokerage can only be captured by company accounts Added to this is the extreme difficulty in separating the retail and institutional components of an individual players asset base. The information is not commonly disclosed - in fact the well regarded Watson Wyatt PI AUM ranking list is based on an industrywide survey and they have tried and failed to separate retail and instituti