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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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High Net Worth Business Owners Worry About Revenue

Maintaining revenue in an uncertain political and economic environment becomes a growing concern for high net worth business owners.

| BY Adriana Reyneri

An increasing share of high net worth business owners are worried about maintaining revenue in uncertain times, according to a Millionaire Corner study completed in the first quarter of 2012.

Revenue poses a key financial concern for 67 percent of high net business owners participating in our 2012 study, compared to 58 percent of those surveyed in the first quarter of 2011.

Millionaire Corner defines the high net worth as having investable assets of $5 million to $25 million, a figure that does not reflect the value of a primary residence.  Our research shows that entrepreneurs and business owners account for 15 percent of high net worth investors.

Growing concerns over business revenues contribute to an increased sense of financial insecurity among high net worth business owners. More than two-thirds of those surveyed in 2012 say they are worried about maintaining their current financial position, compared to 28 percent in 2011.

Heightened concern over larger political and economic issues compounds the personal financial concerns of high net worth business owners, according to our most recent study. Federal debt ranks at the top of their list of national concerns. More than 90 percent of high net worth business owners said they were worried about the national debt this year, compared to 77 percent in 2011.

A greater share of high net worth business owners expresses concerns over the political environment, 84 percent this year vs. 69 percent in 2011. The prolonged economic downturn is also a growing worry, expressed by 81 percent of high net worth business owners this year vs. 61 percent last year. Additionally, 80 percent of high net worth business owners surveyed this year say they are worried about the upcoming national election.

Given a growing sense of insecurity, the majority (57 percent) of high net worth business owners surveyed this year say they believe it is more important to protect their principal than grown their assets. Fewer than half (46 percent) expect their personal financial position to be better a year from now, and an even smaller share (41 percent) are will to take significant risk with even a portion of their investments.

Not surprisingly, high net worth business owners rank the level of risk associated with an investments as their top selection factor, according to our research. Second in importance is diversity of investments,   and third most important to high net worth business owners is the tax implications of investments.