The recent stock market rally has been good for investors—and by extension advisors. But will it last?
The research firm Spectrem Group, based in Lake Forest, Ill., reports that the number of new millionaires rose by 400,000, to 8.99 million, in 2012 (Spectrem excluded primary residences from net worth).
The “comeback” continues for the fourth year, after millionaire households declined to 6.7 million in 2008, but the total millionaire population remains below the pre-recession peak in 2007 of 9.2 million, according to the firm.
The ranks of all affluent investors increased in 2012:
• Those with $100,000 or more in net worth not including primary residence climbed to 37.4 million from 36.7 million in 2011 and 31.2 million in 2008. All other wealth categories are included in this group.
• Those with $500,000 or more in net worth NIPR rose to 14.3 million from 13.8 million in 2011 and 11.3 million in 2008.