Investment Management

Opportunities in Today’s High-Net-Worth Market

The Phoenix Companies surveyed more than 2,800 investors with over $1 million in investable household assets, not including primary residence, in 2004, and found a number of surprising things:

  • Only 30% felt optimistic about their financial future
  • Only 38% felt "extremely" secure about their own wealth for the long term
  • Forty-one percent believed they needed to take "above-average risks" to make money
  • Thirty-three percent were confused about the "best way to invest"
  • Sixty-three percent had no financial plan in place
  • Forty-seven percent had no estate plan in place
  • The 2002 version of the same survey found that more than 80% believed they would be shopping for a new financial advisor within the next 12 months

The message? Opportunity. Today's affluent are uncertain about their financial future, and underprepared to deal with it. You can be vital.

Tools for Building Your High Net Worth Clients:

  • Use ZIP code lists to develop a direct-mail campaign
  • Develop and conduct seminars on estate, tax and retirement planning
  • Network with other professionals serving the affluent demographic
  • Get involved in charitable organizations and social organizations that cater to well-to-do patrons and members
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