Despite reports this month of HNW individuals being hit hardest by rising interest rates and the unstable economic climate, research from Mintel suggests the vast majority are remaining optimistic and continuing to build their investment portfolio into 2008. The personal wealth management industry has seen a boom in the past few years with the population of high earning individuals (£100k+) increasing year-on-year since 2002.
Personal factors play a significant role in the decision of many to continue investing, despite the relative instability of the past 6 months. ‘Hobby investing’ has continued to increase, spurred in part by potentially lucrative opportunities created by the credit crunch and dramatic Northern Rock crash, contributing to the personal investment industries relative stability. The message for those working in personal investments is “keep your personal relationships tight” - this is one of the main factors influencing HNW investors
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