Almost 55,000 Americans have wealth exceeding $30 million, according to research by Wealth-X. Moreover, it found that in the tug of war between keeping and grabbing existing market share one in three ultra high net worth individuals is looking to change their asset manager or wealth advisor.

Wealth-X estimates that there are 700 Americans with a net worth of more than $750 million, 400 with $500-$750 million, 3,200 with $200-$500 million, 6,400 worth $100-$200 million, 16,500 with $50-100 million and 27,500 worth between $30-$50 million.

In the US the ultra affluent face a multitude of challenges, according to Wealth-X. “With increasingly volatile markets, the rich have begun to take a more conservative approach to investing, focused on preserving their wealth rather than taking on aggressive risk to rapidly grow their nest eggs,” the firm maintains.  

“And as baby boomers continue their race toward retirement, America’s richest are staring down what is believed to be the largest generational transfer of wealth in the nation’s history.”

Wealth-X asserts that these shifts have created complex problems including:

-Creating the correct structures that ensure both values and wealth are passed to the next generation in the right way.

-Overcoming complicated estate and tax planning issues.

-Teaching the next generation how one gives is just as important as how much one retains.

The New York City-based firm compiled the research by analyzing data from the Federal Reserve, Internal Revenue Service, proprietary research and media reports.

Wealth-X last week launched a new online tool that provides information on the world's ultra high net worth.

The new tool, available only to its members, provides curated intelligence on thousands of UHNW individuals, including those in the US, China, India, and Singapore. Included in the profiles are the individuals' net worth, liquidity, passions, hobbies, philanthropic tendencies, political affiliations, known associates, and service providers.