Wealthy Investors Gung-Ho on Economy, Their Portfolios: Morgan Stanley

In San Francisco and Chicago, 79% of survey participants saw favorable prospects for the national economy, followed by 77% in the New York Tri-State area, 73% in Boston, 72% in Los Angeles, 71% in Denver and 67% in Atlanta and Houston.

Ninety-six percent of Houston investors were bullish on the local economy, as were 91% of those in San Francisco, 90% in Denver and Atlanta, 88% in Boston, 85% in Chicago and Los Angeles and 78% in the New York Tri-State area.

On the outlook for their household investment portfolios, 95% of Los Angeles investors were bullish, followed by 93% in Houston, Chicago and Atlanta, 92% in Denver and San Francisco, 90% in Boston and 89% in the New York Tri-State area.

Collaborating on Retirement

The poll found that 66% of high-net-worth individuals in a marriage or domestic partnership made joint financial decisions with their spouse or partner, and this was particularly true on matters related to retirement.

“The days when most financial decisions in a household were made unilaterally are clearly over, and financial advisors recognize this fact,” Shelley O’Connor, head of field management for Morgan Stanley Wealth Management, said in the statement.

“Fully 80% of the couples we surveyed said their financial advisor talks with both parties — usually when they meet together as a group. Helping couples collaborate on important life decisions is a key part of every financial advisor’s value proposition.”

Couples in the survey reported that both partners were equally likely to start conversations about these topics:

• 71% — Having enough money to sustain lifestyle after retirement
• 70% — How to fund retirement
• 67% — Your spouse’s/partner’s health
• 66% — Planning for an unexpected serious illness
• 66% — Helping pay for children/grandchildren’s education
• 66% — Preserving wealth for heirs