High Net Worth

Updated Wednesday, June 19, 2013 as of 8:47 AM ET

Practice - High-Net-Worth

Number of Super Wealthy Reaches All-Time High

The world�s wealthy have bounced back in terms of assets, numbers and confidence, and are showing a renewed willingness to work with a single advisor, presenting new opportunities for the top advisors serving that group.

The global population of high net worth individuals grew 9.2%, reaching 12.0 million, according to the World Wealth Report from RBC Wealth Management and Capgemini. North America�s population of 3.73 million high net worth individuals surpassed Asia-Pacific�s 3.68 million, and North America also remained the wealthiest region with $12.7 trillion in assets among the high net worth compared to $12.0 trillion in the Asia-Pacific region, the report said. Global assets held by high net worth (over $1 million in investable assets) individuals leapt up 10% in 2012 to a record of $46.2 trillion, marking a turnaround from 2011 when assets fell 1.7%. more »

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Wealthiest Clients Want to Consolidate Advisors

More than 60% of high-net-worth clients expressed a high degree of trust in both their wealth managers and their firms, according the World Wealth Report 2013, but a majority prefer to work with a single firm to “manage all of their financial needs." more »

Cultivating Next-Gen Clients

Networking and a hands-on approach to learning about investing, running the family business and entrepreneurship are the best ways to attract and retain next generation clients, according to the head of one of the industry’s most successful and longest-running Next Gen programs. more »

1 in 3 U.S Millionaires Foreign-Born or First-Gen Americans

Advisors might want to consider brushing up on their foreign language skills if they want to pursue the highly prized millionaire market. more »

SpringReef Bought by Aronson

SpringReef Partners, a consulting firm specializing in evaluating wealth mangers for high and ultrahigh net-worth clients, has been acquired by Aronson, an accounting and consulting firm based in Rockville, Md. more »

U.S. Bank Hires Historian for UHNW Business

The appointment marks the unit’s latest move to build out its services beyond traditional wealth management. more »

Advisors Scramble to Meet Wealthiest Clients' Insurance Needs

The rich are different from everyone else: They may need different insurance policies. more »

New Approach for Charitable Trusts

Charitable lead annuity trusts have become even more attractive because of a recent U.S. Tax Court ruling. more »

Affluent Investor Confidence Holds Steady in May

Despite recent stock market gains, wealthy investors remain ambivalent about the economy. more »

Wealthy Unprepared for Long-Term-Care Costs

Advisors have not done enough to prepare the majority of wealthy investors for long-term care costs and financial support for extended family, according to a study conducted by U.S. Trust, a unit of Bank of America. more »

BNY Mellon Wealth Management Adds Sales Director in NY

Debralee Nelson, a recruit from J.P. Morgan Chase, will drum up business among ultra-high-net-worth clients in the New York Tri-State region. more »

For Wealthiest Clients, a Key Question

Ultrahigh-net-worth families are asking advisors more questions about family offices. Here are a few guidelines to think about. more »

Webster Private Bank Names Chief Investment Strategist

Yves Cochez will manage the bank’s portfolio management team and set the overall direction of investment management for high-net-worth clients. more »

How Advisors Can Stand Out From the Crowd

The average high-net-worth investor is changing and that spells a significant opportunity for advisors. more »

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