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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 Professionals Track Greek Drama

High net worth professionals express heightened awareness of global economic issues, according to Millionaire Corner research.

| BY Adriana Reyneri

High net worth doctors and other professionals see no quick cure for global economic problems such as the Greek debt crisis and will adjust their investment plans accordingly, according to Millionaire Corner research on the attitudes and behaviors of wealthy investors.

More than two-thirds of high net worth professionals – a group that includes dentists, lawyers and accountants, as well as doctors – say they are paying more attention to the global economy because world events are having a greater impact on their wealth than in the past.

Global economic concerns – particularly the European debt crisis and an economic slowdown in Asia – have dominated the business news this year and, by all accounts, the concerns are deepening.  European nations are preparing for the possibility that Greece will break from the European Union.  Greece’s exit could trigger a credit crisis and recession across the continent, and impact investors across the globe. Weakening demand in developed nations is contributing to a manufacturing slowdown in Asian countries, and creating additional headwinds to global economic growth.

Professionals shower great sensitivity to these macro-economic events than high net worth investors from other walks of life, according to a Millionaire Corner study completed in the first quarter of 2012. Seventy-six percent of the professionals participating in the study expressed heightened awareness of the global economy, an attitude shared by 54 percent of managers and 71 percent of senior corporate executives. Seventy percent of total high net worth investors –defined as having investable assets of $5 million to $25 million – are paying more attention to the global situation.

The European debt crisis in particular is affecting the way high net worth professionals are allocating their assets. According to a Millionaire Corner study conducted in the fourth quarter of 2011, 66 percent of high net worth professionals say the crisis has affected or will affect the way they invest.  

High net worth professionals report relatively large exposures to international investments, compared to total high net worth investors.  Nearly half (47 percent) of high net worth professionals report owning international mutual funds with an average balance of $287,000, and 20 percent own other international investments for an average value of $280,000.

Millionaire professionals – those with investable assets of $1 million to $5 million – are also more aware of the global economic situation that Millionaires from all occupations. More than 70 percent of Millionaire professionals say they are paying more attention to economic events across the world, compared to 65 percent of Millionaire investors from all walks of life.