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

Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says
Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says

Counting advisor moves in and out of firms requires some art as well as science.

Carson Group's M&A head sees '10-to-15 year bull market' for RIAs
Carson Group's M&A head sees '10-to-15 year bull market' for RIAs

“I'm just a big believer that based on demographics alone, we are looking at a 10-to-15 year bull market in M&A in the RIA and independent wealth space,” said Michael Belluomini, SVP of M&A at Carson Group.

Nationwide finds Medicare myth on long-term care could cost Americans dearly
Nationwide finds Medicare myth on long-term care could cost Americans dearly

As a tsunami of retirees comes crashing in, three-fifths of those surveyed believe – wrongly – that the federal safety net will cover their LTC needs.

Fintech bytes: Orion, Altruist unveil new RIA-focused integrations
Fintech bytes: Orion, Altruist unveil new RIA-focused integrations

Orion's latest update, a partnership with 11th.com, focuses on an underserved area of compliance for advisors and wealth firms.

Raymond James reels in advisors managing $1B+ in Colorado
Raymond James reels in advisors managing $1B+ in Colorado

The latest arrivals, including a 10-advisor ensemble from Ameriprise, bolster the firm's independent contractor and employee advisor channels.

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.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave