The Recession Left Wealthy Families Much More Sensitive To Macro Risks, Gloomy About The Future

Friday, July 08, 2011 05:24
edit
The Recession Left Wealthy Families Much More Sensitive To Macro Risks, Gloomy About The Future

Tags: client satisfaction | investor behavior

The deep recession and more recent political upheavals left a long-term impact on the attitudes of some of the world's richest people, according to a new poll of previously optimistic high-net-worth families.

This Website Is For Financial Professionals Only


 

It seems that in the post-2008 world, 73% of the rich are bearish on the global markets and a full 90% think the global economy is in trouble.

 

Survey participants apparently curbed their more ostentatious spending habits. They're more worried about violence in the streets than cyber crime. And 38% think they're worse off now than they were a year ago.

 

Granted, poll sponsor Insite Security has a competitive message here, since the company makes its money selling security services to the elite.

 

But if the biggest and best clients truly do see the 2008-9 credit crash as a sea change and not just another bit of market surf, then advisors need to deal with that. 

 

Plenty of advisors checked their clients' risk tolerances in the months after Lehman Brothers went down. But have you had any really in-depth conversations about risk after the markets recovered?

 

Are your best clients better off today than they were last year? If so, then maybe they need to be reminded.

Comments (0)

Write comment

You must be logged in to post a comment. Please register if you do not have an account yet.

busy