Statistics
Where The HNW Individuals Reside In The UK - Study
The UK has the third-largest number of high net worth individuals in the world behind only the US and Japan – and almost half of them live in London, with sizeable numbers also in Surrey to the immediate south of the capital, and a significant number in the Greater Manchester area.
The UK has the third-largest number of high net worth individuals in the world behind only the US and Japan – and almost half of them live in London, with sizeable numbers also in Surrey to the immediate south of the capital, and a significant number in the Greater Manchester area.
Such figures also show that the counties of Kent, Hertfordshire, Berkshire, Middlesex and Hampshire – all relatively close to London – have significant HNW populations. Edinburgh, the Scottish capital, is among the cities with the highest number of wealthy people.
London, with 376,600 HNW residents, accounted for 44.8 per cent of such people in the UK in 2013. That is followed by Surrey, at 59,800, or 7.1 per cent; Greater Manchester, at 56,800 (6.7 per cent) and Kent, at 29,500 (3.5 per cent).
Figures show that at the end of 2013, there were about 840,000 HNW individuals living in the UK, with a combined wealth of $3.5 trillion. The actual number of wealthy residents actually fell, however, by 1.2 per cent between the years 2007 and 2013, a period encompassing arguably the worst financial crisis since the 1930s Great Depression. That decline, meanwhile, happened despite significant migration of over 30,000 HNW individuals into the UK during the period.
Other factors hitting the overall HNW headcount were depreciations in the sterling exchange rate, and poor performances in equities and local real estate markets, according to data from New World Wealth.
Over a four-year forecast period, the number of UK HNW individuals is forecast to grow by 18 per cent, to reach about 988,000 by 2017.
When the Channel Islands are included in UK figures, total AuM managed by wealth managers stands at $2.2 trillion (at end 2013), the report said.
Barclays is the largest wealth management company in the UK (ranked by UK AuM) followed by Coutts and then HSBC.
