High-net-worth individuals want asset managers and investment advisers to shift their focus from wealth preservation to wealth creation while maintaining present service levels, according to a new report by Arthur Andersen of Chicago.

The report is based on a survey of 216 high-net-worth individuals and 248 asset managers worldwide from July to October 2000. The report defines high-net-worth individuals as those with $1 million or more in investable assets. Continued global prosperity, historically high stock market valuations in the U.S. and Europe, and opportunities created by the new economy have increased the number of high-net-worth individuals to as many as 10 million worldwide (five million of them in the U.S.) These 10 million people control $25.5 trillion in assets.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.