RBC Wealth Management, Capgemini launch World Wealth Report
The latest World Wealth Report by Capgemini and RBC Wealth Management has been published, showing that the number of high net worth individuals increased by nearly 1.8 million in the past year, the second biggest surge since 2000.
The total wealth represented by the study hit a new high of $52.62trn.
North America and Asia Pacific are the two regions with the most HNWIs. North America’s grew 16% to 4.33 million, while Asia Pacific’s grew by 17% to 4.32 million.
North America remained the wealthiest region, with HNWI wealth up 17% to $14.88trn.
In Asia Pacific HNWI wealth was up 18% to $14.2trn, while in Europe it increased by 14% to $12.39trn.
M. George Lewis, group head, RBC Wealth Management & RBC Insurance said: “Overall, 2013 was another strong year for the High Net Worth market, with surging equity markets and improving economies contributing to double digit growth in both population and wealth levels. Looking at longer term growth trends, nearly 40% of the current level of High Net Worth wealth has been created in the past five years alone.”
Other key insights provided by the report include:
– HNWI trust and confidence in all aspects of the wealth management industry grew even further, increasing at double-digit rates
– While driving social impact is important to the vast majority of HNWIs, it is most important to HNWIs in emerging markets
– Two-thirds of HNWIs would consider leaving their wealth management firm if an integrated experience is not provided.
To read the full report click here: https://www.worldwealthreport.com/