Wealth distribution globally
The largest amount of global private wealth, equal to 90.3 trillion U.S. dollars in 2018, was concentrated in North America. The value of private wealth in Western Europe and Asia in that year amounted to 44 trillion U.S. dollars and 37.2 trillion U.S. dollars respectively. According to the forecast, North America will remain in the lead in terms of private wealth value in 2023, but Asia will overtake Western Europe.
Wealth distribution in the United States
In the United States, New Jersey had the highest ratio of millionaire households in 2018. In the same year, Mississippi had the lowest ratio of millionaire households per capita, where only 3.68 percent of households held assets worth more than one million U.S. dollars.
Wealth management companies
The private banks worldwide with largest amount of assets under management in 2017 were UBS (2.4 trillion U.S. dollars), Morgan Stanley (2.22 trillion U.S. dollars) and Bank of America (2.21 trillion U.S. dollars). The largest wealth management companies in the United States in terms of managed assets as of September 2018 were Bank of America Global Wealth and Investment Management (1.35 trillion U.S. dollars), Morgan Stanley Wealth Management (1.26 trillion U.S. dollars) and JP Morgan Private Bank (774 billion U.S. dollars).
Vanguard's robo-advisor managed 101 billion U.S. dollars of assets as of June 2018. Our Statista Report 2019 shows market sizes on a regional and country level, business models and company profiles of the Fintech Private Wealth Management companies such as SoFi, Betterment, and Wealthfront.
Investment preferences among affluent investors
The asset classes most popular among the high net worth individuals in North America in 2019 were cash and cash equivalents, equities, and fixed income. Cash and cash equivalents, and equities accounted for over half of their allocations in that year.