NEW YORK - The number of penta-millionaires will expand exponentially by 46 percent a year between now and 2004, bringing today's 590,000 penta-millionaire households to more than two million by 2004, according to new research by the Spectrem Group of San Francisco.

The report, "Penta-millionaire Market Research: A Portrait of the Ultra High Net Worth Market," was discussed at a media briefing here July 18. The study was based on 610 questionnaires completed by wealthy households in 17 states in June and July of last year.

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.