Wealthy gain confidence

Confidence among wealthy investors rebounded in December, though pessimism still lingers, according to a report from Spectrem Group.
JAN 07, 2009
By  Bloomberg
Confidence among wealthy investors rebounded in December, though pessimism still lingers, according to a report from Spectrem Group. The Spectrem Millionaire Investor Index rose 16 points in December to a reading of -23, marking the largest advance since the inception of the index in February 2004. In November, the index had slumped 15 points to a reading of -39, down from the previous record low of -24 in October. Meanwhile, the Spectrem Affluent Investor Index, which measures the investment outlook for households with $500,000 to $1 million in investible assets, rose 8 points from its all-time low to a reading of -31 in December, but still remains in bearish territory. The index fell 9 points in November to a reading of -39. Both groups of investors cited concern that the economy and market conditions were the greatest threats to achieving their financial goals. “Millionaires and the affluent ended a dismal year on a relatively positive note, posting solid improvements in their investment outlook from record lows,” George H. Walper Jr., president of Spectrem Group, said in a statement. “Nonetheless, both groups were far more pessimistic than a year ago.” The indexes are put out on a monthly basis by Spectrem Group, a Chicago-based research firm.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.