Chicago, June 26, 2014 —Spectrem Group’s first-ever Ethnic Segmentation Series report, Financial Attitudes and Concerns, examines investors of three key ethnic demographics – African-American, Asian and Hispanic – and determines what differences exist in their investment and financial strategies based on ethnicity.
Key findings include:
· Most African-American investors (70 percent) think their personal financial situation is going to improve over the next year, but their concern over debt is greater than other ethnic segments.
· Forty percent of Asian investors say they are willing to take a significant risk on a portion of their investments in order to earn a high return.
· More than half (56 percent) of Hispanic investors watch the global economic situation closely because of its potential impact on their own financial fortunes.
“Investors from different ethnic backgrounds have different attitudes towards wealth in general, and have greater concern over the financial situations of their families,’’ says George H. Walper Jr., president of Spectrem Group. “Their attitudes about the future and their behaviors related to risk tolerance can be very different than the general population, and those differences need to be understood by the financial advisors working with them.”
Additional insights from the Ethnic Segmentation Series report are available at Spectrem.com and Spectrem’s Millionaire Corner, including:
About Spectrem Group
Spectrem Group (www.spectrem.com) is the leading research provider in the wealth management marketplace. Each month, Spectrem Group surveys more than 1500 investors with $100,000 to $25 million of net worth regarding their investment attitudes and behaviors.
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