Millionaire Spotting – What Sets Them Apart from Other Investors?

Latest research from Phoenix Marketing International profiles the breadth of financial holdings of millionaires in the UK.

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Most importantly, anyone targeting HNW investors, such as financial advisers and wealth management services, can use ownership of these defining products as key indicators of substantial investable asset holdings.

Rhinebeck, NY (PRWEB) October 03, 2012

Phoenix Marketing International (Phoenix), one of the fastest growing international research companies, announced today findings specific to the UK from its twice-yearly Global Wealth Monitor-Europe (GWM) research tracking program.

Just updated with new market sizing numbers, the Phoenix study of nearly 1,200 affluent UK investors provides a detailed portrait of the breadth and scope of the financial affairs of high net worth investors (HNWI) in the UK (households with £1 million+ in liquid wealth or investable assets), compared with the Mass Affluent market (households with £150,000 to less than £1 million). Phoenix estimates that there are about 197,000 HNWI households in the UK.

The study compares different groups of financial products, some of which, like savings accounts, have similar ownership rates among HNW and Mass Affluent investors. Other products, like investment bonds or stocks and shares, have ownership rates that increase more predictably, i.e., the wealthier you are the more likely you are to own them. “There are other financial products, however, that almost define membership in the £1 million+ club” says David M. Thompson, Managing Director of the Phoenix GWM programs. These products include such diverse asset classes, (either professionally or investor-managed) as offshore bonds, investment trusts, exchange traded funds, and hedge funds. It also includes other investments such as self-invested personal pensions (SIPPs), precious metals, family trusts, undeveloped land, commercial property, Venture Capital Trusts, and Enterprise Investment Schemes.

“These defining products of the HNWI club are not unique to the UK”, continued Thompson. “A similar pattern exits in other markets that we track, such as the U.S. and Canada. Most importantly, anyone targeting HNW investors, such as financial advisers and wealth management services, can use ownership of these defining products as key indicators of substantial investable asset holdings” said Thompson.

To manage these deep portfolios, the Phoenix study shows that 83% of HNW UK investors use one or more professional advisors (versus 70% of Mass Affluent investors). The top advisory firms include Barclays (17%), HSBC (9%), Aberdeen (8%), Lloyds (7%), Blackrock (6%), and Credit Suisse (5%). HNWIs are generally willing to pay for advice and most that receive advice are very satisfied with quality of it.

Upcoming Webinar

David M. Thompson will be sharing some of the key insights from this study, and how wealth management firms and advisors can use the insights to grow their business, in a free Webinar to be held on Tuesday, 16 October, at 2pm GMT. For more information and to register, click here.

About the Phoenix Global Wealth Monitor Programs

The Phoenix GWM programs assist companies and professionals in the wealth management industry, serving markets in Europe (UK, Germany, France, Italy, Spain, Switzerland), the U.S. and Canada, with Asia coming in soon. Our data and insights help our clients acquire new customers, strengthen relationships and retention strategies, accelerate product development, and sharpen messages. Clients can subscribe to a suite of services, including comprehensive reports, proprietary question insertion, and interactive dashboards.


Contact

  • David M. Thompson
    Phoenix Marketing International
    +001 860 404 5414
    Email
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