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Asset Preservation Advisors


State: GA

APA’s philosophy is to work closely with our clients to develop an in-depth understanding of their unique needs and objectives. We then customize a municipal bond portfolio that best meets their specific goals and needs. APA manages high quality municipal bond portfolios in four strategies: Short-Term, Intermediate-Term, High Income, and Taxable.

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Who Do High Net Worth Investors Credit with Their Financial Success? Mostly Themselves

On a scale of 0 to 100, where 0 represent those who attribute their financial success solely to themselves, High Net Worth investors put themselves at just under 40.

| BY Donald Liebenson

High Net Worth investors have a very high opinion of their own financial acumen, according to a recent wealth level survey conducted by Spectrem’s Millionaire Corner. 

On a scale of 0 to 100, where 0 represent those who attribute their financial success solely to themselves, those with a net worth between $5 million and $24.9 million (not including primary residence) put themselves at just under 40. The youngest High Net Worth investors put the most stock in their investment abilities, High New Worth investors under 45 rank themselves at just under 24 on the 0-100 scale, compared with seniors over 65 who rank themselves at just over 42. This indicates not just youthful confidence, but the increased money management challenges one is likely to face as they get older and how that might compel one to seek professional advice and guidance.

Not surprisingly, High Net Worth investors who identify themselves as self-directed, meaning that they make all of their financial and investment decisions themselves, put themselves at 11.30 on the scale, while those who rely on a financial advisor to make all of the decisions tip the scale at 73.59.

In terms of asset allocation, High Net Worth investors we surveyed said they only entrust 22 percent of their assets to a professional advisor to handle without any input from them. That percentage plummets to 8 percent among respondents under 45.

Six-in-ten High Net Worth investors (the highest percentage across all wealth levels) say they enjoy investing and that they like to be actively involved in the day-to-day management of their investments. This attitude is heightened among those ages 47-54. Similarly, this wealth group is most likely to say they are “very knowledgeable” about financial products and investments (41 percent) or “fairly knowledgeable” (52 percent).

Thus, they entrust 40 percent of their assets to themselves to manage without professional help. They report consulting a financial advisor about 38 percent of their assets, but ultimately making the final financial decisions themselves.



About the Author

Donald Liebenson

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.