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IN THE WAKE OF THE RECESSION, WAKE-UP CALL ENSUES FOR THE AFFLUENT INVESTOR

March 6, 2013

Phoenix Marketing International’s Global Wealth Monitor Shows New Segment Emerging among Affluent: How “Taking Control” is the New Black

Back in 2007 – only 6 years ago but a world away – we lived in a place where trust was assumed when our finances were involved: work for my money and make my money work for me (please and thank you). Alas, the recession was born and months turned into years and here we are; in the wake of the recession we are finding our affluent investors waking up, drinking their coffee and getting down to business with their finances.

Of the Emerging Affluent, 61% would prefer to do most of their financial business at one institution – one that can bring together the specialists and services they need (Phoenix GWM – U.S.). There is an immediate need for transparency and a need to be actively involved in their investments.

So what does this mean for advisors? Affluent Investors are demanding a different approach: a more hand’s-on method, allowing them access to the latest tools (mobile apps, online budgeting, online education or seminars, advice tools), encouraging participation, and developing that trust once again.

About Global Wealth Monitor
The PMI Global Wealth Monitor syndicated research tracking studies provide the foundation for our work with clients who market to affluent and high net worth (HNW) households. These ongoing and trended studies provide strategic information and insights on numerous topics related to wealth management and affluent lifestyles, including preferences toward and use of advice and advisors; investment products owned, current balances and asset allocations; use of credit and debit cards; attitudes toward investing, personal finances and goals, economy, and wealth; investment and retirement intentions, and demographics.

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