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Featured Advisor



Srbo Radisavljevic
Managing Principal/Investment Advisor

Edge Portfolio Management

City:Northbrook

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, following Chicago sports, enjoying ethnic cooking, and serving as a school board member for Norridge School District 80.

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The Wealth Report: Millionaire Population Grows by 200,000

Robert Frank looks at the culture and economy of the wealthy.

America’s millionaire population is still growing – though not by much.

The number of millionaires in America grew by 200,000 in 2011, according to a new report from Chicago-based Spectrem Group.

That sounds like a lot — especially with so many Americans still losing jobs and homes. But it represents a growth rate of only 2% – much slower than the growth in 2009 and 2010.

According to Spectrem, there are now 8.6 million households in the U.S. with a total net worth (minus principal residence) of $1 million or more. The number of households worth $5 million or more and $25 million or more also remained fairly flat, with growth of less than 2%. There are now  1,078,000 households  worth $5 million or more and about 107,000 people worth $25 million or more.

The number of millionaire-households is still well below the pre-crisis high, when there were 9.2 million worth $1 million or more. (Spectrem uses surveys of more than 2,500 families for its report).

George Walper, president of Spectrem Group, said the results show that weak financial markets and the slow recovery in real-estate (especially investment real-estate for the wealthy) held back growth.

“We’re still not back to pre-crisis levels,” he said.  He added that while the optimism of millionaires is increasing, “these folks are still worried.”

The report also broke down today’s millionaires by occupation and former occupation if retired. Managers make up the largest group, with 17%, followed by educators (12%), corporate executives (7%), entrepreneur/business owners (6%)  and attorneys and accounts.

The $5 million-plus crowd, is dominated by senior corporate executives (17%) and entrepreneurs/owners (12%).

Unfortunately, the categories don’t include former private-equity chiefs.

Do you think America’s millionaire count will return to all-time highs this year?

Sprectrem Group

To read the original article, follow link to the Wall Street Journal.