Spectrem Millionaire Confidence Index at Highest Level in Three Years

Spectrem Group’s Spectrem Millionaire Investor Confidence Index rose six points in October to zero, a neutral reading and its highest level in nearly three years, and the Spectrem Affluent Investor Confidence Index rose three points to minus 13, a mildly bearish reading.

“While the stock market’s October gains clearly contributed to this positive trend, underlying economic fundamentals remain a top concern for America’s wealthiest investors,” said George H. Walper, Jr., president of Spectrem Group.

Asked what is the most important factor impacting their investment plans, 22% of millionaires cited stock market conditions and 21% the economic environment. Likewise, 21% of affluent investors pointed to the stock market and 20% the economy.