Survey Shows That US High Net Worth Individuals Remain Confident

by Carla Johnson, Investors Offshore.com

05 November 2001

A survey commissioned by Phoenix Wealth Management into the mindset of high net worth individuals in the United States in the wake of the September 11th terrorist attacks has shown that the majority are confident in their investments and optimistic for the future.

The poll, which targeted those with a liquid net worth of more than $1 million, found that 69% of respondents were optimistic regarding the future of the US economy, and that 77% were happy with their current investment selections.

However, there was a noticeable shift towards relying on the services of professional investment advisors, with nearly a quarter of the wealthy investors questioned choosing to do so. Many HNWI said that they had also become more conservative in their spending habits since September 11th, with 28% reporting that they are holding back from big purchases and home improvements for the foreseeable future.

The Phoenix president commented last week on the results of the survey which was initially concluded in June, but was re-opened in September in order to gauge the impact of the US attacks: 'We weren't surprised our data show America's high net worth are generally optimistic and, for the most part, confident concerning their financial portfolio,' remarked Dona D. Young. 'We know they value a long-term perspective.'

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