North America reclaimed the top spot for high net worth individuals (HNWI) population in 2012, with 3.73m residing in the area according to the 2013 RBC/Capgemini world wealth report.

This rise pushed Asia-Pacific back into second with 3.68m HNWIs, while globally the population grew by 9.2% producing an extra 1m HNWIs.

Even with last year’s rise, North America is forecast to slip back behind Asia-Pacific by 2015, with the latter forecast to grow by almost 10% a year in terms of investable wealth.

Other key figures from the report included an 11% rise in ultra HNWI wealth, (those with $30m plus of investable assets), and total HNWI wealth reaching $46.2tn, almost $6tn above pre 2008 levels.

The joint report also highlighted HNWIs were very much focused on wealth preservation in 2012, with 30% of all assets held in cash or deposits globally.

This ballooned to almost 50% in Japan with real estate down to just 12% of HNWIs portfolios.

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On top of wealth preservation, behaviour from HNWI surveys indicated 41% were opting for single firms to manage their needs.

Stuart Rutledge, head of RBC Wealth Management in the British Isles and Caribbean, said this has a regional dimension, with emerging markets often opting to multi-bank with multiple firms.

"Emerging market client wealth is intrinsically linked with family business and lots of broader needs. We see in emerging markets, clients can choose to bank and be served by multiple wealth managers," said Rutledge.

This year’s report also included a spotlight feature on regulatory challenges, highlighting the growing complexity and costs arising from compliance.

"What is really obvious from the report is that firms just can’t afford to not comply," said Rosemary Stark head of UK banking at Capgemini.

Stark said one of the biggest costs of non-compliance is to a firm’s reputation, which can have a serious impact on brand value, as well as stock price.