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High Net Worth Individuals

The March 2009 newsletter from Ledbury Research includes an artcle on “The Fall of UK Fortunes”. It reports that the number of High Net Worth Individuals (HNWIs, with £500,000 – £5 million in investable assets) fell by 19% (c 106,000) in 2008 to 465,000 in January 2009. It argues that over 60% of HNWI growth since 1996 has been driven by property development and (ahem!) “sophisticated financial services”. As both these sectors have suffered somewhat of late, the number of HNWIs has declined more than at any time since 1980. Ledbury argues that the number of HNWIs is expected to grow in 2010 but will not fully recover until at least 2012.
The number of affluent people (£100,000 and £500,000 in investable assets) fared slightly better with numbers falling only by 11%, and the number of Altra High Net Worth Individuals (UHNWIs, with over £5 million in investable assets) fell by 31%.
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Finbar Cullen
ResearchPlus
www.ledburyresearch.com

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