Dear Colleague,

Please see press release below from WealthInsight, the London based global wealth consultancy, which has conducted an in-depth analysis of the UK high net worth community.

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This press release is part of WealthInsight’s report on the UK wealth management sector entitled: United Kingdom – The Future of HNWIs to 2015: Capital of Wealth and Finance.

Press release: Super rich: Top 20 Cities for UK multi-millionaires
According to WealthInsight research, there are just over 10,100 multi-millionaires in the UK (each with net assets of over US$30 million). These individuals have a combined wealth of US$1,113 billion. London is home to over 40% of these or 4,220 multi-millionaires, which is greater than the whole of France (3,800 multi-millionaires).

Manchester has the highest number of multi-millionaires (170 multi-millionaires) outside of London followed by Glasgow (158 multi-millionaires), Edinburgh (134 multi-millionaires) and then Birmingham (130 multi-millionaires).

According to WealthInsight analyst Andrew Amoils: "Despite being the 2nd largest city in the UK by population, Birmingham has a relatively low number of multi-millionaires when compared to the likes of Manchester and Glasgow"

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Among UK counties, Greater Manchester (which includes Manchester, Bolton, Wigan, and Salford) has the highest number of multi-millionaires outside of London, with 374 multi-millionaires, followed by Surrey with 230 and Hertfordshire with 206.

Definitions:

  • "Multi-millionaires" otherwise known as "ultra high net worth individuals" or "UHNWIs" are individuals with net assets of US$30 million or more excluding their primary residences.
  • "Millionaires" otherwise known as "high net worth individuals" or "HNWIs" refer to individuals with net assets of US$1 million or more excluding their primary residences.
  • For the purposes of this report, the phrase "review period" relates to the years 2007-2011 and the "forecast period" relates to the years 2011-2016.

Please find full white paper attached.