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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.
(Reporting by Michael Shields; Editing by Alison Williams)
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