So you’re looking for ways to build the average asset value of your client base. Where do you go to do that? The first place to look is the Capgemini RBC World Wealth Report. It not only tells you what’s happening with wealth worldwide, it specifically tells you the areas of the world that will show you more money.
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An interesting thing happened with wealth in 2011. Overall levels of wealth were down a bit but the number of millionaires increased. As a result, there are now more wealthy individuals in Asia than in any other part of the world. Yet within the Asia-Pacific region, India and Hong Kong had declining numbers of wealthy individuals.
Surprisingly, Italy is still in the top ten list of countries with the wealthiest people despite its current sovereign debt woes. Italy’s public debt is 120% of its gross domestic product but it has 168,000 millionaires.
Australia is number nine with 179,500; Switzerland number eight with 252,000; Canada next with 280,000; France number six with 404,000; the UK fifth with 441,000; China fourth with 562,000; Germany third with 951,000; Japan second with 1.82 million despite its debt ratio of 229.8%; and the US with 3.07 million.
These numbers are down overall from 2010, but as economic concerns drop off over time, growth in the number of millionaires should continue. And asset levels
should rise, too. If you're not a world traveler already, it might be time to consider becoming one.