U.S. High-Net-Worth and Ultra-High-Net-Worth Markets 2022
Shifts in Alternative Allocations
Gain Insight into the Private Wealth Industry
- Determine how asset managers are engaging with professional buyers in the HNW space
- Evaluate shifting product and portfolio construction trends among HNW investors as they demand more customized, sustainable, and tax-efficient portfolios
- Understand evolving service and technology preferences among the next generation of HNW investors, including winning business models and best practices to engage clients
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Drew O'Hearn, CFP
Senior Director, Account Management
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Summary
This report provides insights and comprehensive analysis into the private wealth industry, focusing on high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals. Attention is given to the unique characteristics of investors with greater than $5 million in investable assets, including market sizing and growth trends, portfolio construction, product and service demands, and best approaches for both wealth management and asset management providers looking to attract and retain wealthy investors and their families.
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A Note from the Author
Demand for Alternatives Accelerates Among HNW Investors
Chayce Horton
Senior Analyst
Bio →
Chayce Horton
Senior Analyst
Chayce is a member of the Wealth Management team at Cerulli and contributes primarily to the U.S. Private Banks and Trust Companies and U.S. High-Net-Worth and Ultra-High-Net-Worth Markets annual reports. His analysis covers the wealth and asset management industries that serve high-net-worth (HNW) investors and families. Chayce also provides analyst support to strategic consulting projects in the wealth management space and contributes to The Cerulli Edge series.
Previously, Chayce has experience working in enterprise data governance, government affairs, and business banking at multiple global financial institutions.
Full biography here.
Alternative investing is gaining momentum among high-net-worth (HNW) investors (those with $5 million or more in total investable assets). Up from 7.7% of client portfolios in 2020, HNW clientele now have an average of 9.1% of their assets allocated to alternative investing options, and advisors expect this to increase to 9.6% by 2024.
There are numerous reasons advisors are adding alternative investments to client portfolios. Portfolio diversification (50%) to help reduce volatility, along with new growth opportunities (50%), are among the most cited.
Looking forward, HNW practices report their strong intentions to increase alternative investments in almost all strategies over the next two years. Private equity leads the way, with 50% of advisors and executives planning to increase their allocations (with none reporting an expected decrease), followed by private real estate (45%) and direct investments/co-investing (32%). A vast majority (94% or more) of surveyed HNW practices expect to maintain or grow their positions in all alternative strategies, outside of hedge funds.
To learn more, access The Cerulli Report—U.S. High-Net-Worth and Ultra-High-Net-Worth Markets: Shifts in Alternative Allocations, the go-to guidebook for the private wealth industry.
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