Dubai, UAE – Amidst a politically uncertain landscape, the main concerns for the world’s and the Middle East’s most affluent people are wealth preservation, capital growth and succession planning, according to Knight Frank’s annual Attitudes Survey, produced exclusively for The Wealth Report.
The survey looks at the most important factors for ultra-high-net-worth individuals (UHNWIs), canvassing the responses of almost 900 of the world’s leading private bankers and wealth advisors, representing over 10,000 clients with a combined wealth of around $US2 trillion.
More than half of the respondents within the Middle East said that passing wealth onto the next generation was a major focus (51%), behind only wealth preservation (73%) and capital growth (61%). This measured approach to wealth management is reflected by the prioritisation of privacy (58%) minimising risk (48%) rather than looking for innovative new ways to invest (19%). This is perhaps not surprising given the growing level of international political uncertainty.
The report also reflects the emphasis on succession planning, exploring the growing importance of education and philanthropy for UHNWIs.
Dana Salbak, Head of MENA Research, Knight Frank said
“This year’s Attitudes Survey illustrates the impact of global uncertainty on the approach of UHNWIs to wealth management and their investment strategies. The Wealth Report delves deeper into some of the areas that are receiving increasing attention from the wealth industry, revealing some striking emerging trends in three key areas: travel, education and philanthropy.
“The focus on the next generation identified in the survey is apparent in the increasing focus on education and their involvement in philanthropic causes, which help to shape their values from a relatively young age.”
Five most important factors for clients when it comes to the management of their wealth and investment decisions
http://www.knightfrank.com/wealthreport
For further information please contact press@knightfrank.com
Nicola Milton, Head of ME Marketing, +971 4 426 7000, Nicola.milton@me.knightfrank.com
Dana Salbak, Head of ME Research, +971 4 4267 681, Dana.Salbak@me.knightfrank.com
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank and its New York-based global partner, Newmark Knight Frank, operate from 413 offices, in 60 countries, across six continents. More than 14,000 professionals commercial, agricultural and residential real estate annually, advising clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the Company, please visit www.knightfrank.com.
Knight Frank has a strong presence in the Middle East with offices in Abu Dhabi, Dubai, Bahrain and Saudi Arabia. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. www.knightfrank.ae
The 2017 Attitudes Survey results are based on responses from almost 900 of the world’s leading private bankers and wealth advisors, representing over 10,000 clients with a combined wealth of around $US2 trillion. Wealth distribution numbers are provided by New World Wealth and show historical and forecast growth across five wealth bands at regional, country and city level.
© Press Release 2017
