Wealthy Floridians Are Self-Made, American by Birth, Male and Educated
BMO Private Bank Releases Changing Face of Wealth Study - Sixty-eight percent of high-net worth Floridians are self-made - The same percentage are at least second-generation Americans - More than one-third are women, majority are over the age of 65 - Education matters: An impressive 93 percent hold at least a university degree; 66 percent hold a graduate or professional degree
(firmenpresse) - WEST PALM BEACH, FLORIDA -- (Marketwired) -- 06/13/13 -- Move over, trust fund babies. According to a study released today by BMO Private Bank, the wealthy of Florida (defined as those with investible assets of $1 million or more) have the American-bred values of hard work and higher education. The study is the first in a series being released by BMO Private Bank over the next year that examines trends among the wealthy in Florida.
The inaugural study found that:
"Generally, our study's findings correlate with our client demographics. It's no secret that education is a key to success. It's just interesting that this survey confirmed that Florida's most wealthy residents have had the benefit of graduate and professional degrees and have had the determination and commitment to create their own successful destinies," said Michael J. Dyer, CFP(i) and Managing Director of BMO Private Bank in West Palm Beach.
"I would expect that we'll see more advanced degrees among Florida's most wealthy residents as more time goes by, as it is becoming a very specialized world. Today's high net worth Floridians prove that an American entrepreneurial spirit and a higher education can result in prosperity and success, which can ultimately lead to a comfortable retirement."
Given that Florida is a major retirement destination, Dyer also noted that it is not surprising that wealthy Floridians are dominated by the 65 and over age group. "The characteristics noted in the study all fit well with our team's experience and abilities with significant estate and retirement planning capabilities."
Key National Findings:
On a national level, the study found the following:
About BMO Private Bank, a Part of BMO Financial Group
BMO Private Bank offers a comprehensive range of wealth management services that include investment advisory, trust, banking and financial planning to meet the financial needs of high net worth clients. Through integrated teams of experienced financial professionals, BMO Private Bank helps its clients realize their financial and lifestyle goals with solutions that are custom tailored and delivered with the highest level of personalized service.
BMO Private Bank is a brand name used in the United States by BMO Harris Bank N.A. Member FDIC. Not all products and services are available in every state and/or location.
The online survey was conducted by Pollara between March 28th and April 11th, 2013 with a sample of 482 American adults who have $1M+ in investable assets (including a sub-sample of 41 Florida residents). The margin of error for a probability sample of this size is +/- 4.5%, 19 times out of 20.
(i)CFP: Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements. .
Contacts:
Media Contacts:
Carey Allen
480-558-6383
Jennifer Jones
561-278-0850
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Datum: 13.06.2013 - 11:00 Uhr
Sprache: Deutsch
News-ID 269337
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contact information:
Town:
WEST PALM BEACH, FLORIDA
Kategorie:
Commercial & Investment Banking
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