How many high-net-worth investors in Canada?
Sometimes clients ask us, “Am I considered wealthy?”
While “wealth” is a highly subjective and relative term, involving many more factors than financial assets, a high-net-worth investor is defined as someone who has more than $1 million of financial assets (i.e. excluding real estate, private business interests or collectibles).
At a wealth management conference we attended recently, keynote speaker, Keith Sjogren, Managing Director, Consulting Services at research firm, Strategic Insight, provided the facts on Canada’s high-net-worth.
Approximately 800,000+ households have more than $1 million in assets. This segment is expected to grow at 6.4% per year over the next ten years.
Within the millionaire population, there are sub-segments:
- 79,000 households have between $5 million and $25 million of assets;
- 8,000 households, have more than $25 million of investable assets – the ultra-high-net-worth segment
At Newport, we like to think we are contributing to a flattening of the investment hierarchy by providing a broader segment of investors access to investment strategies and opportunities that, historically, were reserved for ultra-high-net-worth investors and institutions such as large pension funds. You can read more about our investment approach on our website.