High Net Worth Women - US - June 2008

Table of Contents

• Scope and Themes
• What you need to know
• Scope of this report
• Data sources and methodology
• Consumer survey data
• Abbreviations and terms
• Abbreviations
• Terms
• Executive Summary
• Who are high net worth women?
• How do they spend their time?
• How confident are they about making financial decisions?
• Who makes the decisions?
• What are their greatest concerns?
• To what do they attribute their wealth?
• What are their favored investment vehicles?
• What was their most painful investment mistake?
• Market Size and Forecast
• Key points
  • Figure 2: Distribution of female top wealth holdings, aggregated net worth, by age group, 2001
• Market Drivers
• Age and generations
  • Figure 3: Population, by generation, 2008
  • Figure 4: Generations, 2003-13
• Confidence and independence in making financial decisions
• Expansion of Hispanic influence
• Continue growth in top net worth and millionaires
• Companies and Brands
  • Figure 5: Top ten global wealth managers, 2007
• Innovation and Innovators
• Merrill Lynch
• Branding
• Citigroup Global Wealth Management
• Midwest Bank Centre
• PNC
• OppenheimerFunds
• Singer Xenos
• Who are High Net Worth Women?
• Key points
• High net worth women tend to be married
  • Figure 6: Marital status, by age, March 2008
  • Figure 7: Marital status, by household income, March 2008
• High net worth women tend to be white and have college degrees
  • Figure 8: High net worth women, by race and age, March 2008
• HNW Hispanic women
  • Figure 9: High net worth women, Hispanic origin, by age, March 2008
• What is the household income of HNW women?
  • Figure 10: High net worth women, by pre-tax household income and age, March 2008
  • Figure 11: High net worth women, by pre-tax household income and region, March 2008
• HNW women and education
  • Figure 12: Level of educational attainment, by age, March 2008
  • Figure 13: Level of educational attainment, by household income, March 2008
• They are likely to be employed
  • Figure 14: Employment status, by age, March 2008
  • Figure 15: Employment status, by household income, March 2008
  • Figure 16: Employment status, by region, March 2008
  • Figure 17: Employment status, by children in household, March 2008
  • Figure 18: Employment status, by level of educational attainment, March 2008
• High net worth women and children
  • Figure 19: Children in household, by age segment, March 2008
  • Figure 20: Children in household, by region, March 2008
  • Figure 21: Number of children under age 18 living at home, by age, March 2008
  • Figure 22: Number of children under age 18 living at home, by level of educational attainment, March 2008
  • Figure 23: Number of people in household, by age, March 2008
  • Figure 24: Number of people in household, by children in household, March 2008
• Confidence and Decision-Making of High Net worth Women
• Key points
  • Figure 25: Decision-making of high net worth women, by household income, March 2008
  • Figure 26: Decision-making of high net worth women, by region, March 2008
  • Figure 27: Decision-making of high net worth women, by children in household, March 2008
• Decision-making by education
  • Figure 28: Decision-making of high net worth women, by level of educational attainment, March 2008
• Financial decision-making confidence of high net worth women
  • Figure 29: Confidence in making financial decisions, by age, March 2008
  • Figure 30: Confidence in making financial decisions, by household income, March 2008
  • Figure 31: Confidence in making financial decisions, by region, March 2008
  • Figure 32: Confidence in making financial decisions, by children in household, March 2008
  • Figure 33: Confidence in making financial decisions, by level of educational attainment, March 2008
• Greatest Concerns of High Net Worth Women
• Key points
  • Figure 34: Greatest concerns of high net worth women, by age, March 2008
• Work is a bigger concern than retirement
  • Figure 35: Greatest concerns of high net worth women, by household income, March 2008
• The Northeast and Midwest are more concerned about financial security
  • Figure 36: Greatest concerns of high net worth women, by region, March 2008
• Presence of children in the home indicates greater concern
  • Figure 37: Greatest concerns of high net worth women, by children in household, March 2008
• More education equates to less concern about financial security
  • Figure 38: Greatest concerns of high net worth women, by children in household, March 2008
• Belief Systems of High Net Worth Women
• Key points
  • Figure 39: Belief systems of high net worth women, by age, March 2008
• Higher income groups attribute their wealth to hard work, as well as their profession
  • Figure 40: Belief systems of high net worth women, by household income, March 2008
  • Figure 41: Belief systems of high net worth women, by region, March 2008
  • Figure 42: Belief systems of high net worth women, by level of educational attainment, March 2008
• High Net Worth Women and Insurance
• Key points
  • Figure 43: Types of insurance held, by age, March 2008
  • Figure 44: Types of insurance held, by household income, March 2008
• Insurance by region and household structure
  • Figure 45: Types of insurance held, by region, March 2008
  • Figure 46: Types of insurance held, by children in household, March 2008
• High Net Worth Women: Most Painful Investment Mistake
• Key points
  • Figure 47: Most painful investment mistake, by age, March 2008
• Midwest more likely to have trusted the wrong adviser
  • Figure 48: Most painful investment mistake, by region, March 2008
• Higher-income women more likely to have made investment mistakes
  • Figure 49: Most painful investment mistake, by household income, March 2008
  • Figure 50: Most painful investment mistake, by level of educational attainment, March 2008
• Familiarity with and use of Investment Vehicles
• Key points
• Familiarity with mutual funds
  • Figure 51: Familiar with or invest in mutual funds, by age, March 2008
  • Figure 52: Familiar with or invest in mutual funds, by region, March 2008
• Familiar with or invest in municipal bonds
  • Figure 53: Familiar with or invest in municipal bonds, by age, March 2008
  • Figure 54: Familiar with or invest in municipal bonds, by region, March 2008
  • Figure 55: Familiar with or invest in municipal bonds, by level of educational attainment, March 2008
• Familiar with or invest in separately managed accounts
  • Figure 56: Familiar with or invest in separately managed accounts, by age, March 2008
  • Figure 57: Familiar with or invest in separately managed accounts, by household income, March 2008
  • Figure 58: Familiar with or invest in separately managed accounts, by region, March 2008
  • Figure 59: Familiar with or invest in separately managed accounts, by level of children in household, March 2008
• Familiar with or invest in investment real estate
  • Figure 60: Familiar with or invest in investment real estate, by household income, March 2008
  • Figure 61: Familiar with or invest in investment real estate, by region, March 2008
  • Figure 62: Familiar with or invest in household income, by level of educational attainment, March 2008
• Familiar with or invest in exchange-traded funds
  • Figure 63: Familiar with or invest in exchange-traded funds, by age, March 2008
  • Figure 64: Familiar with or invest in exchange-traded funds, by household income, March 2008
• ETFs most prevalent for families and those in the Midwest and Northeast
  • Figure 65: Familiar with or invest in exchange-traded funds, by region, March 2008
  • Figure 66: Familiar with or invest in exchange-traded funds, by children in household, March 2008
• Familiar with or invest in private equity
  • Figure 67: Familiar with or invest in private equity, by age, March 2008
• Familiarity with private equity increases with income
  • Figure 68: Familiar with or invest in private equity, by household income, March 2008
  • Figure 69: Familiar with or invest in private equity, by region, March 2008
  • Figure 70: Familiar with or invest in private equity, by children in household, March 2008
  • Figure 71: Familiar with or invest in private equity, by level of educational attainment, March 2008
• Familiar with or invest in hedge funds
  • Figure 72: Familiar with or invest in hedge funds, by age, March 2008
  • Figure 73: Familiar with or invest in hedge funds, by household income, March 2008
  • Figure 74: Familiar with or invest in hedge funds, by region, March 2008
  • Figure 75: Familiar with or invest in hedge funds, by children in household, March 2008
  • Figure 76: Familiar with or invest in hedge funds, by level of educational attainment, March 2008
• High Net Worth Women and Retirement Planning
• Key points
  • Figure 77: High net worth women with formal financial plan, including retirement plan, by age, March 2008
  • Figure 78: High net worth women with formal financial plan, including retirement plan, by level of educational attainment, March 2008
• Advertising and Promotion
• Print
  • Figure 91: HSBC Premier print ad, January 2008
  • Figure 92: Bank of America print ad, March 2008
• Direct mail
  • Figure 93: HSBC Premier direct mail ad, March 2008
  • Figure 94: Carolina Postal Credit Union direct mail ad, January 2008
  • Figure 95: MetLife direct mail advertisement, December 2007
• TV commercials
  • Figure 96: Fidelity Mutual Funds television advertisement, 2007
  • Figure 97: HSBC Premier television advertisement, 2007
  • Figure 98: Investools television advertisement, 2007
  • Figure 99: John Hancock television advertisement, 2008
  • Figure 100: Lincoln Financial Group television advertisement, 2007
  • Figure 101: Regions Bank television advertisement, 2008
  • Figure 102: Scottrade television advertisement, 2007
  • Figure 103: TD Ameritrade television advertisement, 2008
• Appendix: Trade Associations