The number of Canadians with more than $1 million of investable wealth increased about 7% in 2013 to reach 320,000, following a 6.5% increase in 2012, according to the World Wealth Report from Capgemini and RBC Wealth Management.
- The assets of those with more than $1 million to invest increased 9% to US$979 billion.
- While North America remains the largest and wealthiest region, Asia-Pacific is catching up fast.
- Those with investable wealth of US$30 million or more shifted focus from preservation to growth.
- Trust levels in all aspects of the industry – wealth managers, firms, financial markets and regulators – all surged globally with particularly high levels in Canada, which had the highest trust and confidence levels in wealth firms of all 23 countries we surveyed.
- Rich investors prefer to work with a single firm and point of contact, receive advice and customized services, and an increasing level of digital interactions.
- Wealthy investors would consider leaving firms that don’t offer an integrated digital experience.
- 88% of rich Canadians are seeking opportunities to make a positive impact on society using investments and donations. The most popular causes relate to health, education and children.