High net worth individuals (HNWIs)- defined in the
Capgemini poll as having at least $1 million to invest excluding their main
homes and things such as art collections and cars — saw investment returns
above 20 percent in 2017 for the second year in a row.
That helped take their collective wealth above $70 trillion
for the first time and put them on track to have amassed $100 trillion by 2025,
the Capgemini World Wealth Report 2018 found.
But it did not boost their satisfaction with the people
managing their fortunes.
Only around 56 percent of millionaires say they are
connected “very well” with their wealth managers, short of the 70 percent level
the French business consulting group calls a passing grade.
Rich people’s enthusiasm for digital currencies swelled
last year, with 29 percent of millionaires expressing a high degree of interest
in buying or holding cryptocurrencies and nearly 27 percent somewhat
interested, the survey found.
Still, only around a third said they had got information
about cryptocurrencies from their wealth managers.
“Although regulatory uncertainty and firm caution have
prevented cryptocurrencies from penetrating the wealth management industry, the
strong demand for information on cryptocurrencies from younger HNWIs is likely
to force wealth management firms to at least develop and offer a point of view
during the months ahead,” it said.
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