SOURCE: Spectrem Group

May 24, 2011 08:00 ET

Millionaires Losing Interest in Hands-On Investing

Just 47% Want Day-to-Day Role Managing Their Assets, Down From 69% in 2009; Percentage Who Say They 'Enjoy' Investing Also Declines

CHICAGO, IL--(Marketwire - May 24, 2011) - Millionaires are losing their taste for investing.

Just 47% of millionaires, defined as those with a net worth of $1 million to $5 million, not including primary residence (NIPR), say they like to be actively involved in the day-to-day management of their investments, according to a new Spectrem Group study, "Millionaire Investors 2011, Vol. 1," released today. This represents a substantial decline from 65% in 2010 and 69% in 2009.

For Ultra High Net Worth investors, those with a net worth of $5 million to $25 million NIPR, the 2011 story is similar. Just 50% want an active investing role, down from 63% in 2010 and 67% in 2009, according to a second new Spectrem study, "UHNW Investors 2011, Vol. 1."

"Millionaires' desire to roll up their sleeves and get involved with their own investments has declined substantially since 2009, following a period of intense vigilance and participation during the financial crisis. Wealthy Americans may simply be experiencing investor fatigue, prompting them to pull back and allow their advisors to take the lead in managing their assets," said George H. Walper, Jr., President of Spectrem Group.

The number of millionaires who say they enjoy investing and it is something they do not want to give up as fallen as well, down to 45% in 2011 from 64% in 2009. For UHNW investors, that number dropped to 54% in 2011 from 63% in 2009.

Additional insights are available on Spectrem's newly launched Spectrem's Millionaire Corner website (www.millionairecorner.com). They include:

The Spectrem Group study "Millionaire Investors 2011, Vol. 1" is based on an online survey of the financial decision-makers of 1,484 households with a net worth of $1 million to $5 million, not including primary residence (NIPR). The Spectrem Group study "UHNW Investors 2011, Vol. 1" is based on an online survey of the financial decision-makers of 649 households with $5 million to $25 million of net worth (NIPR). The studies were conducted throughout the first quarter of 2011 and have margins of errors, respectively, of plus or minus 2.5 and 3.8 percentage points.

About Spectrem's Millionaire Corner
Spectrem's Millionaire Corner website (www.millionairecorner.com) is a powerful source for up-to-the-minute news and information for investors, about investors designed to fuel financial growth. It incorporates Spectrem Group research as well as outside information. In the future, the site will offer financial advisor referrals.

About Spectrem Group
Spectrem Group is a strategic consulting firm specializing in the affluent and retirement markets, integrating proprietary research with expertise in building business, marketing and M&A strategies. Its professionals have held senior management positions at leading global companies.

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