Wealth concentration

Global Investment Boutique Azura Continues Expansion with Geneva Office Opening

Retrieved on: 
Thursday, July 1, 2021
Economy, Finance, Investment management, Money, Distribution of wealth, Ultra high-net-worth individual, Wealth concentration, Wealth management, Family office, Investment banking

MONACO, andLONDON, July 1, 2021 /PRNewswire/ --Azura, a global investment office serving UHNW entrepreneurs and Single Family Offices, today announced the opening of a new office in Geneva, Switzerland, to support business growth and better serve its international client base.

Key Points: 
  • MONACO, andLONDON, July 1, 2021 /PRNewswire/ --Azura, a global investment office serving UHNW entrepreneurs and Single Family Offices, today announced the opening of a new office in Geneva, Switzerland, to support business growth and better serve its international client base.
  • The Geneva office, located at Longemalle 2-4, will be led by Frederic Turrettini, who joins Azura as Partner, supported by a new team.
  • Geneva is Azura's fourth office worldwide, following its existing offices in London, Monaco and Singapore.
  • Azura is a global investment office that provides UHNW entrepreneurs & Single Family Offices wealth management, investment advisory and investment banking solutions, overseeing approximately $2.5 billion in client assets globally, including $1.5 billion under advisory and $1 billion introduced, as of June 30, 2021.

New Report Reveals Global UHNW Population Grew 1.7% in 2020 Despite Covid-19 Disruption

Retrieved on: 
Wednesday, June 30, 2021
Economy, Distribution of wealth, Articles, Wealth concentration, Ultra high-net-worth individual, Wealth, Citigroup, Net worth, Worth, Millionaire

The ninth edition of this report provides an in-depth analysis of the global ultra high net worth (UHNW) population an exclusive group of wealthy individuals located across the globe, each with $30 million or more in net worth.

Key Points: 
  • The ninth edition of this report provides an in-depth analysis of the global ultra high net worth (UHNW) population an exclusive group of wealthy individuals located across the globe, each with $30 million or more in net worth.
  • World Ultra Wealth Report 2021 explores the distribution of wealth among the ultra wealthy, general wealth drivers, regional trends and rankings of the leading UHNW countries and cities.
  • Top findings include:
    The global UHNW population grew 1.7% in 2020 to 295,450 individuals.
  • San Jose (California) has the highest density of UHNW individuals, with one for every 727 city residents.

New Report Reveals Differing Passions Among a New Generation of Wealthy Individuals

Retrieved on: 
Thursday, May 27, 2021
Distribution of wealth, Wealth concentration, Ultra high-net-worth individual, Wealth

NEW YORK, May 27, 2021 /PRNewswire-PRWeb/ -- Wealth-X, the world's leading provider of data and insight on the wealthy, today released Interests Passions and Hobbies Report 2021.

Key Points: 
  • NEW YORK, May 27, 2021 /PRNewswire-PRWeb/ -- Wealth-X, the world's leading provider of data and insight on the wealthy, today released Interests Passions and Hobbies Report 2021.
  • The second edition of this report examines the pursuits of the wealthy, focusing on the very high net worth (VHNW) populationthose with $5m to $30mand ultra-high net worth (UHNW) individuals with $30m or more.
  • A data-backed understanding of the interests and passions of the world's wealthiest individuals is critical to organizations that are prospecting for and engaging with those in the top tiers of wealth.
  • This report explores the diversity of interests among the global wealthy, providing an overview of the top interests, ranking the most popular and examining how this differs across wealth tiers.

The Art of Giving Through Collaborative Philanthropy

Retrieved on: 
Thursday, April 15, 2021
Economy, Articles, Social finance, Corporate social responsibility, Distribution of wealth, Ultra high-net-worth individual, Wealth concentration, Philanthropy, Impact investing

Moderated by Daryl Heald, Philanthropist and Global Impact Investor, the event explored how family offices can maximise the social impact of philanthropy.

Key Points: 
  • Moderated by Daryl Heald, Philanthropist and Global Impact Investor, the event explored how family offices can maximise the social impact of philanthropy.
  • A seasoned advisor for social purpose businesses, Gee observed an important mindset shift among UHNW individuals and families, towards increased involvement in impact investing and philanthropy.
  • "We see a melding of philanthropic giving with business pursuits which blurs the artificial lines that once existed.
  • For instance, among many Asian conglomerates, a lot of CSR goes hand in hand with family giving," Gee said.

BMO Launches New adviceDirect Premium Account

Retrieved on: 
Tuesday, March 9, 2021
Economy, Distribution of wealth, Ultra high-net-worth individual, Wealth concentration, Wealth management

TORONTO, March 9, 2021 /CNW/ - BMO InvestorLine today announced a new offering, adviceDirect Premium, designed to meet the more complex needs of our clients.

Key Points: 
  • TORONTO, March 9, 2021 /CNW/ - BMO InvestorLine today announced a new offering, adviceDirect Premium, designed to meet the more complex needs of our clients.
  • adviceDirect Premium is part of BMO Wealth's wide range of investment solutions which includes everything from self-directed investing to BMO Private Wealth for high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients with more complex investing and banking needs.
  • For more information on adviceDirect Premium and the full spectrum of investing products offered by BMO Wealth Management please visit: bmo.com/wealthmanagement.
  • An adviceDirect account is a non-discretionary, fee based account which offers investment recommendations.

Wealth-X Reveals the True Footprint of Global Luxury Real Estate

Retrieved on: 
Thursday, February 18, 2021
Distribution of wealth, Wealth concentration, Ultra high-net-worth individual

We are honored to partner with Wealth-X to examine how markets have shifted over the events of the past year."

Key Points: 
  • We are honored to partner with Wealth-X to examine how markets have shifted over the events of the past year."
  • Second-home destinations are dominated by cities in the 'West' London has one of the highest shares of UHNW secondary homes, but away from the global cities, Miami leads the rest of real estate markets.
  • REALM is the first globally collaborative real estate platform that combines real-time data with human experience and networking.
  • Its membership is comprised of the most accomplished real estate professionals ever assembled.

Luna Global Networks Applauds Congress Enacting Law to End Anonymous Companies Undermining National Security

Retrieved on: 
Saturday, January 2, 2021
Articles, Information and communications technology, Computing, Kleptocracy, Political corruption, Political terminology, Wealth concentration, Fraud, Shell corporation, Anonymous, Anonymity, Technological convergence

This is especially true across e-commerce marketplaces that are generating tremendous prosperity for scammers, fraudsters, kleptocrats, organized criminals, terrorists, and other threat networks.

Key Points: 
  • This is especially true across e-commerce marketplaces that are generating tremendous prosperity for scammers, fraudsters, kleptocrats, organized criminals, terrorists, and other threat networks.
  • Fortunately, the newly-enacted law will attack a critical vulnerability of this illicit economy: anonymous shell companies.
  • Terrorist groups also manipulate anonymous shell companies to finance their infrastructure, operations, and campaigns of terror in the US and internationally.
  • David M. Luna ,former US diplomat and national security official,is President and CEO of Luna Global Networks & Convergence Strategies LLC.

Ultra Wealthy Individuals Account for 36% of Global Giving

Retrieved on: 
Tuesday, December 15, 2020
Distribution of wealth, Wealth concentration, Ultra high-net-worth individual, Philanthropy

The world has undergone dramatic change since Wealth-X last reported on major giving in its December 2019 publication The New Normal: Trends in UHNW Giving 2019.

Key Points: 
  • The world has undergone dramatic change since Wealth-X last reported on major giving in its December 2019 publication The New Normal: Trends in UHNW Giving 2019.
  • This new edition explores how these developments affected major giving in 2020 from the perspective of recipient organizations and the group of wealthy individuals, particularly ultra high net worth (UHNW) individuals those with a net worth of $30 million or more, who fund a significant share of this giving.
  • Key insights from Spotlight on Major Giving in 2020 include:
    UHNW individuals accounted for 20% of total global giving - when looking just at individual giving, UHNW and their private foundations represent 36% of total global giving.
  • Download the full report here: http://www.wealthx.com/report/covid-19-philanthropy-spotlight-major-giving/
    To size philanthropic giving by the ultra wealthy, we use our Philanthropic Giving Model to compile the report.

Grove Square Galleries Secure Services of Experienced Investment Director Ben Meadows To Lead Advisory Division

Retrieved on: 
Wednesday, October 21, 2020
Distribution of wealth, Ultra high-net-worth individual, Wealth concentration

Ben has spent the majority of his career managing the portfolios for UHNW & HNW clientele, working in affluent markets and industries, and managing an ever-growing stable of collectors and associates.

Key Points: 
  • Ben has spent the majority of his career managing the portfolios for UHNW & HNW clientele, working in affluent markets and industries, and managing an ever-growing stable of collectors and associates.
  • The addition of Ben Meadows to their team will help the company, as well as their clients, reach the next level of success.
  • Looking forward to his challenging new role, Ben stated he was "delighted to be joining Grove Square Art Advisory and Galleries at such an exciting, yet youthful stage of their development.
  • Ben Meadows has begun his role as Investment Director already and can be contacted through Grove Square Galleries and Art Advisory.

After Record Expansion in 2019, World's Wealthiest Showed Nearly 30% Decline in Early 2020

Retrieved on: 
Wednesday, October 7, 2020
Distribution of wealth, Wealth concentration, Ultra high-net-worth individual, Wealth, Net worth, Millionaire

In addition, the combined net worth of the UHNW population mirrored this growth, increasing by 9.7% to $35.4 trillion.

Key Points: 
  • In addition, the combined net worth of the UHNW population mirrored this growth, increasing by 9.7% to $35.4 trillion.
  • On the heels of this 2019 growth, the World Ultra Wealth Report 2020 also reveals a significant decline in wealth from this population in early 2020 due to the impact of the COVID-19 pandemic.
  • However, by the end of August the UHNW population and their collective wealth had shown significant recovery, rebounding toward end-2019 levels.
  • Cumulative net worth in Asia expanded by 10%, to $10.4trn, equivalent to 29% of global UHNW wealth.