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Featured Advisor



Ed Meek
CEO/Investment Advisor

Edge Portfolio Management

City:Winfield

State: IL



BIOGRAPHY:
At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

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Are Millionaires Getting Their Investment Groove Back?

| BY Donald Liebenson

With the market settled down after a year of near-unprecedented volatility and amid encouraging signs that the economic recovery is taking hold, nearly half of Millionaires (47 percent), say that they enjoy investing and it is something they do not want to give up, according to a first quarter wealth level study conducted by Millionaire Corner. Fifty percent of respondents said that they like to be actively involved in the day-to-day management of their investments, up from 47 percent last year.

Though edging up, Millionaire enthusiasm for investment isn’t as strong as it was immediately following the recession. In 2009, 57 percent said they enjoyed investing and 53 percent said they like to be actively involved with the day-to-day management of their investments. In 2010, this increased to 60 percent and 65 percent, respectively.

The wild market swings in 2011, such as the market sell off last August following the first-ever downgrade of the U.S. credit rating, dampened Millionaire enthusiasm for investing. Forty-five percent said they enjoyed investing and 47 percent liked to involve themselves in the day-to-day management of their portfolio.

Investors younger than 45 show the most enthusiasm for investing. Fifty-five percent, up from 47 percent in 2011, said that it is something they do not want to give up. Fifty-one percent, up from 45 percent last year, said they like to be hands on with their investments.

Another group that shows renewed enthusiasm for investing are the Advisor-Assisted, those who consult regularly with a financial advisor, but make the final investment decisions themselves. Forty-three percent, up from 38 percent last year, said they enjoy investing, and 44 percent, up from 36 percent, like to be actively involved in the management of their investments.

Nearly a third of Millionaire investors (30 percent) consider themselves Self-Directed, meaning they do not consult with a professional advisor before making investment decisions. This is a slight increase over last year, when 28 percent identified themselves as such. Again, younger investors under the age of 45 were most likely to say they are Self-Directed as well as Event-driven, meaning that they do consult with a professional advisor for a specific need, such as saving for college or retirement.

Seniors over the age of 65 are most likely to rely exclusively on a professional advisor.



About the Author


Donald Liebenson

dliebenson@millionairecorner.com

Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.  

A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.