... Millennials have a secondary investment firm. This number is significantly lower among older affluent cohorts.Technology becomes increasingly important: Technology and digital solutions have become increasingly critical to enabling advisor efficiency and empowering more proactive client engagement. A majority (86%) of advised clients logged into their account on their firm’s site in the past 12 months and 60% logged onto the mobile app. Furthermore, advisors who take the time to help clients understand and engage with digital channels are consistently driving higher levels of investor satis...
2024-02-09 | high net worth wealth management
... uip affluent investors with the tools and expertise necessary for successful financial navigation. As the investment landscape advances, the synergy between high net worth clients and top-tier investment firms will continue to be essential for achieving financial excellence....
2023-06-01 | wealth management hnw
... edicated platform for wealth services augmented with self-service tools to improve customer managementReport MethodologyThe World Wealth Report 2023 covers 71 markets, accounting for more than 98% of global gross national income and 99% of world stock market capitalization. The Capgemini 2023 Global HNW Insights Survey questioned 3,171 HNWIs across 23 major wealth markets in North America, Latin America, Europe, and the Asia-Pacific region. The Capgemini 2023 Global Affluent Insights Survey questioned 3,203 Affluents across 11 major wealth markets in North America, Europe, and Asia-Pacific. To...
2022-07-14 12:00:00 | consumers economy
... of Primerica. “For 45 years, we’ve helped working families prepare to weather these types of situations. We’ve reassured them that professional financial guidance is not only for the affluent. It is critical to their long-term planning and can support their efforts to endure a potential economic downturn.” Key Findings from Primerica’s U.S. Middle-Income Financial Security Monitor Inflation drives top concerns. The economy continues to be a major stressor for middle-income Americans, with 41% rating inflation as their top concern. Paying for food and groceries also ranks hig...
2022-05-03 12:00:00 | affluent demographics
... s economic environment makes it more important than ever to have meaningful financial discussions among family members while there’s ample time to plan for what’s ahead.” Source: Wells Fargo...
2022-04-26 13:00:00 | investing pandemic
... ent market that is often not an ideal fit for a full-service advisor, average satisfaction among this segment currently is lower (708) than among either DIY (720) or full-service (744) investors. This suggests that the promise of this model has not yet been widely realized. “With trading fees no longer being a significant revenue driver, the big opportunity for retail brokerage firms is creating loyal clients who will deepen their relationships to include revenue-generating services that address their broader financial needs for things such as advice, cash management and lending,” Foy...
2021-07-06 09:08:22 | transportation
... il what they want comes back in stock." Edmunds analysts note that the car shoppers who are still making purchases in the current market likely represent a more affluent portion of the population. "This is not a buying environment for people on the fringe of being able to afford new car ownership," said Caldwell. "Average loan terms are already quite long and interest rates are relatively low on average, so the consumer really has to make up the difference in price." Edmunds experts advise consumers who are considering making a purchase over the Fourth of July...
2021-06-10 08:52:09 | housing interest rates
... e people who were driven to hunt for vacation homes over the last year have already bought them," Fairweather continued. "The pandemic and remote work drove many affluent Americans to relocate to vacation destinations, at least part of the time. But with offices reopening and life returning to some semblance of normal, people are less focused on fleeing to the beach or the lake." Source: Redfin...
2021-05-19 | real estate
... because affluent Americans—with extra cash from a strong stock market and a year of being stuck at home—have been relocating to vacation destinations to enjoy the sun and work remotely. Demand for second homes, which are often high-priced properties, has more than doubled. The housing shortage also isn't as severe in the high-priced segment of the market, which may be another factor allowing investor purchases in that tier to outperform, Bokhari said. While investors have been snapping up high-priced homes during the pandemic, they still have the largest market share in the low-priced-h...
2021-05-11 12:00:04 | housing real estate
... aces like Florida and Texas during the pandemic, which has fueled home sales and driven up prices in those areas." To read the full report, including additional charts and graphs, please visit: ...
2021-05-10 12:00:01 | real estate
... art of the time. "The combination of the wealthy becoming wealthier, remote work turning into the new normal and low mortgage rates is creating an ideal environment for affluent Americans to buy vacation homes," said Redfin Chief Economist Daryl Fairweather. "As long as the economy continues to grow, I don't foresee demand for second homes slowing down anytime soon." The elevated demand for second homes in the pandemic era is one sign of economic inequality in the U.S., with some buyers able to afford second homes and others unable to become homeowners at all. Home pri...
2021-05-10 12:00:00 | demographics travel spending
... ore important to live up to the brand promise, while having the flexibility and responsiveness to developments in order to meet travelers' evolving needs." This online survey was sponsored by Accenture and Tripadvisor; it was executed by Qualtrics. The survey was conducted on March 3, 2021 and interviewed 1,000 respondents from 49 states, evenly distributed across Gen Z, Gen X, Millennial, and Boomer generations. Source: Tripadvisor, Accenture...
2021-04-28 12:25:14 | affluent economy
... their financial advisor by the age of 25. Additional details from the report can be found here: https://spectrem.com/Content_Product/25-million-plus-investors-2020.aspx Source: Spectrem Group...
2021-04-20 12:00:09 | housing real estate
... oing for well over the asking prices," said Oakland, CA Redfin real estate agent Katy Polvorosa. "That's something we haven't seen before, even though the Bay Area has many affluent residents. Everyone just wants more space and big backyards, whether it's because they're stuck at home during the pandemic or because they have a growing family." The U.S. housing market is experiencing a record deficit of homes for sale as demand soars due to low mortgage rates and remote work, but the shortage is less extreme in the luxury price tier, which is allowing high-end home sales to flourish. The...
2021-04-15 12:10:00 | investing
... re also a major priority for them that isn’t seen as much yet among Boomers. Wealth management providers are making a mistake if they assume that the emerging affluent investors will simply evolve into Boomers over time. Firms with the ability to recognize and address these changing needs will define success through the great wealth transfer.” Following are some key findings of the 2021 study: Younger investors crank up interaction during pandemic: More than half (55%) of full-service investors under age 40 prefer digital channels for communicating with their advisors vs. just 26% ...
2021-04-14 12:02:02 | consumers luxury
... ...
2021-04-14 12:00:01 | demographics investing
... assets, grew in influence with a rising share of households and Assets Under Management (AUM). During the study period, the Mass Market grew from 30% to 38% of households with Mass Affluent ($100K to ...
... a Redfin analysis of mortgage-rate lock data from real estate analytics firm Optimal Blue. Pandemic-driven demand for second homes is soaring as many affluent remote workers opt to spend at least part of their time in vacation destinations, even as some companies are planning for workers to return to the office. The annual rise in demand for second homes is nearly quadruple the 34% year-over-year gain for primary homes. "The Palm Springs housing market is incredibly busy, with an influx of vacation-home buyers from Los Angeles and San Francisco," said local Redfin agent Nisa Sheikh. "Man...
2021-04-06 12:00:00 | pandemic affluent
... cans are taking a self-directed approach to investing or using self-directed investing in combination with a financial advisor for guidance. Among those surveyed: 40% conduct their own research and fully manage their investments using online platforms; 28% consult only a financial advisor for investment advice; 16% use a combination of self-directed and a financial advisor for guidance; and 9% only consult a robo advisor. When it comes to choosing a financial advisor or online brokerage, Americans take into consideration credible reputation (63%) and fees (53%), as well as personal recomm...
2021-03-09 08:11:04 | technology investing
... is power and our free, financial tools help people consolidate and see all of their financial accounts securely in one place." In response to the growing needs of the mass affluent investor, Personal Capital has also introduced the ability to track cryptocurrency on personal dashboards. "Bitcoin recently hit a $1 trillion market cap and we realize tracking cryptocurrency is becoming increasingly important," said Vince Maniago Vice President of Product Management. "By adding these new tracking features, now you can literally see everything on your dashboard. You can track your home value, e...
2021-01-21 14:00:00 | transportation spending
... ices are skyrocketing: In December 2020 the average transaction price for a new vehicle hit an all-time record high of $40,573. Edmunds analysts expect this number to go up as affluent consumers benefiting from lower interest rates and healthy stock and housing markets continue buying bigger, more expensive new trucks and SUVs. At the same time, more affordable options in the new car market are growing increasingly scarce as automakers shutter their car lines, which Edmunds experts say will create a barrier to entry for many consumers and force them into the used car market. COVID-19 vaccin...
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