Since May, Millionaire investors had increasingly indicated they would be retreating to the sidelines rather than invest. But in July, fewer Millionaires reported they would be going this route, according to a monthly investment trends survey conducted by Spectrem Group. “Not invest” dropped 6.5 points to 28.9. This was the biggest drop in six months.
Stock Market Conditions are the primary factor most affecting Affluent household investment plans, according to the highest percentage (26 percent) of investors surveyed by Spectrem Group.
Spectrem Group’s study Social Media and Mobile Technology in Financial Decisions shows that only 1 percent of the Millionaires are under the age of 36, but it also shows that the youngest age group is making an average income of $270,968, the highest average income of any age segment.
Spectrem Group’s study Using Social Media and Mobile Technology in Financial Decisions shows that unlike less wealthy segments of investors, where mobile technology ownership is spotty, the UHNW investor is likely to own both a smartphone and a tablet. Whether they are willing to use those devices for financial purposes is another story entirely.
A new Spectrem Group study of Affluent social media usage finds an aversion to social media by just over one-fourth (27 percent) of non-Millionaire and Millionaire households alike.
Millionaire users of social media do not seem ready to embrace it as a resource for financial purposes, but wealthy Baby Boomers are most likely to see the possibilities, according to a new Spectrem Group’s wealth level study of social media usage.
Millionaires are no strangers to social media, and usage for social purposes continues to grow, but they are still loathe to use the various platforms for financial purposes, according to a new wealth level study conducted by Spectrem Group.
Spectrem Group’s study Using Social Media and Mobile Technology in Financial Decisions shows that 65 percent of Millionaires with a net worth between $1 million and $5 million (Not Including Primary Residence) own smartphones and 67 percent own tablets. That is up from 41 percent with smartphones in 2011 and only 20 percent with tablets in 2011.
Spectrem Group’s study Using Social Media and Mobile Technology in Financial Decisions shows that the use of smartphones and tablets continues to increase, and among younger members of the affluent investor set use of mobile technology is climbing rapidly.
Spectrem’s new research with Millionaire investors (net worth of between $1 million and $5 million, not including primary residence) shows the ability to video-chat via a phone or tablet has been increasing in popularity. This form of communication may surpass the semi-annual sit-down with an advisor in the future.
Affluent investors recently surveyed by Spectrem Group are on board with a shorter work week. Seven-in-ten like the concept of a four-day work week. Women, especially are keen on the idea, with 82 percent for it, compared with 62 percent men.
To educate financial providers and advisors on the financial characteristics of Asian investors, Spectrem Group’s study Financial Attitudes and Concerns is one of a four-part Ethnic Segmentation Series that includes Asians, along with African-Americans and Hispanics. In the study, Asian investors are compared to the other referenced segments, as well as to all investors who are not part of the three segments studied.