Italian savers rely on managing their money more and more convinced to professional consultants. The confirmation comes from Magstat Consulting, a company specializing in the analysis of portfolios and private masses, which presented its now historic survey on the world of Italian private banking, now in its 17th edition.
The report analyzed the numbers of the 268 financial operators who offer private banking and family office services in our country and highlights that, as at 31 December 2019, the total financial assets managed by the players surveyed amounted to 1.047 billion euros divided over at least 1.376.207 .XNUMX customers. Magstat analysts estimate that the Italian private banking and family office market worth a total of 2019 billion at the end of 1.200 and has a share not yet reached by private banking services equal to 12,8%. Consequently, it emerges that the market share served is 87,2% and is constantly growing since a year ago (end of 2018) it was equal to 944 billion euros, or 84,3% of the potential market.
The report therefore refers to what happened in the world of private banking just before Covid hit our lives and documents an expanding sector which in any case, as known from the data collected in recent months, remains stable despite the advent of the pandemic. A state of health that, even according to the data collected up to the end of 2019, seems to be due to the operators in the sector who, thanks to their network of consultants, prove to be constantly alongside Italian families, supporting them in planning actions consistent with their life projects and helping them protect their assets from the challenges that affect savings.
The Magstat survey, numbers in hand, ranks which banks achieved the best results in 2019. At the top of the 268 operators we find the same podium as last year. In this sense, the affirmation of the private emanation of the two banking giants of the country is obvious: Intesa Sanpaolo manages 175,2 billion assets, followed by Unicredit with 108,1 billion. Less obvious is the reconfirmation of Banca Generali in third place with 44,2 billion which represents the affirmation of the bank-network model as an alternative on the rise in the management of Italian assets. The company led by CEO Mossa had arrived on the podium of the major private companies in Italy the year before after an impressive climb in recent years. Just think of the fact that in 2013 the Trieste bank was not even included in the top ten of Magstat and in the same period it almost tripled its total assets (now over 70 billion).
It is nothing new that advisory networks are the most dynamic players in Italian financial services. The observatory conducted by the analysis company IT Reply on Italian Wealth Management in fact photographs for the period between 2008 and the first quarter of 2020 a conspicuous acceleration of the main operators. And here too the primacy of "hare" for growth belongs once again to General Bank which saw assets under management increase by 464% (from 11,2 billion in 2008 to current data) and also improve by 273% the ratio between assets and number of consultants.
Returning to the Magstat classification, the first places on the grid are completed with Ubi Banca and Bnl Bnp Paribas which are positioned ahead of Fineco, Deutsche Bank and Ubs. Hence the wait for the 2021 survey which will certainly be a new, reliable litmus test to understand how this period marked by the pandemic will have impacted the world of private banking. And to verify if, once again, the world of consultants will have been able to conquer a slice of that 12,8% market share unserved that Magstat analysts see available to date, i.e. 153 billion euros.
“In this new context, it is even more important to give substance and strength to our ambition to be people's Life Partners, demonstrating that we are present and close with concrete and immediate solutions. We as a sector can play a big role in the recovery: in risk management; to be a point of reference on health; to give our support on the issues of self-sufficiency, protection and savings,” he said Marco Sesana, Country Manager & CEO of Generali Italia and Global Business Lines, who spoke this morning at the Energy Talk streaming event organized by Rcs Academy and Corriere della Sera.
Meanwhile, still in the Generali world, the Country Manager & CEO of Generali Italia and Global Business Lines Marco Sesana spoke at the Online Energy Talk organized by Rcs Academy e Corriere della Sera, on the theme of the Green New Deal: "Sustainability - he said - is for us an enabler of the 2019-21 strategic plan and we adopt a distinctive approach in a world in constant transformation, through listening, ecosystems and measurability. Sustainability for us therefore means doing business well with a positive impact on the real economy, intertwining our business action and commitment to communities. We want to create long-term shared value for all stakeholders and measure it in economic, social and environmental terms, sharing and assuming the risks".
“What is also clear to us – added the manager – is that the impact of our corporate choices becomes even wider and more positive if we are able to involve all our stakeholders, our people. I'm talking about our 10 million customers, more than 12 employees, over 40 distributors throughout the country. Our business actions and our commitment to the community therefore also aim to encourage people to adopt responsible behavior. For example, with the Welfare Index PMI we promote the activation by SMEs of welfare initiatives to support and benefit their employees and the reference communities. Indeed, the 2020 analysis revealed that companies that have more solid welfare structures were better able to resist the crisis. Not only that: with GeneraSviluppo Sostenibile by Generali Italia, we have created the first investment insurance solution that allows customers to choose the goal for sustainable development closest to their values, to invest in companies with high sustainability ratings and measure the impact of your choice. I am convinced that all these actions are able to reconcile good ethics with the economic success that guides our action of doing business well".
