If you're forty-something, Internet savvy and with cash to spare, you're on the wanted list for some of the world's biggest banks, which are setting up to manage your money online.

Key players, including Credit Suisse, Deutsche Bank and Merrill Lynch/HSBC, are jostling for a share of this affluent market, estimated at 40 million individuals in Europe alone.

They are homing in on higher earners who want to use the Internet for advice on how to manage their wealth.

Merrill Lynch and HSBC are launching their online wealth management joint venture in Britain at the end of this year, with plans to go global. The pair are aiming to be in the top two in most markets, leveraging off their brands, distribution and research.

The market is estimated at €8 trillion, according to recent data, and this is expected to double over the next 10 years.