“For example, last month, Morgan Stanley became the first major U.S. bank to plan to allow clients to invest in one of three Bitcoin funds it would offer,” said Richard Gardner, chief executive of Modulus, a financial technology services company in Scottsdale. Ariz. “However, only individuals with assets under management over $ 2 million will have access to the offer.”
An overview of HNWI statistics
There is no doubt that the HNWI trend is in full swing as Americans continue to grow their assets. This may interest you : Case of the Week: No More Age Restriction for Traditional IRA Contributions. These statistics bear that feeling.
• According to the CapGemini World Wealth Report, in 2019 the US, Japan, Germany, China and France were the top five countries in the overall HNWI. The United States claims to have the most HWNIs, and 62% of the world’s HWNIs live in the United States, Japan, Germany, and China.
• According to the Spectrem Group, in 2020, 11.6 million U.S. households had a net worth of between $ 1 million and $ 5 million (not counting the value of their primary residence). That figure increased by 5.5% over the previous year.
• Spectrum also found that the number of ultra-high net worth individuals in the U.S. – calculated by UHNWIs owning between $ 5 million and $ 25 million (excluding the value of their primary residence) – grew 21.3% in 2020 to a total of 1.8 million households.