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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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What Crisis? US Millionaire Count Hits All-Time High - March 13, 2014

| BY Robert Frank

The recovery is official—at least for millionaires.

The number of millionaire households in the U.S. surged by 640,000, or 7 percent, to 9.63 million last year, according to a new study from Spectrem Group. That marks an all-time high for the number of millionaire households in America since Spectrem began tracking the data in 1997.

Bull market billionaires

On the 5th anniversary of the bull market, CNBC's Robert Frank looks back at who has made the most money since the stock market bottomed out.

It's also the first time the millionaire population has exceeded the pre-crisis peak of 9.2 millionaire households in 2007, showing that last year's stock surge drove a corresponding growth in wealth for the rich.

The number of households worth $5 million or more also surpassed its pre-crisis peak for the first time, rising by 100,000 to 1.24 million households. The number of households worth $25 million or more surged by 15,000, to 132,000 households.

"In terms of the affluent investor, it is fair to say they have finally recovered from the economic downturn," said Spectrem Group President George H. Walper Jr.

However, the number of households worth $500,000 has yet to recover to its pre-crisis population peak. Those so-called "mass affluent" households grew by 1 million to 15.3 million in 2013—just below the 2007 top of 15.7 million.

Spectrem defines millionaire households as those with a net worth of $1 million or more, not including the value of their primary residence. 

 

 

To read the original article on CNBC, click here