·Gloucester has 17% of all ‘aspirant millionaires’ in the South West
·2270 potential millionaires in Gloucester
·Daglingworth most popular area
Increasing numbers of people in the South West1 are now ‘aspirant millionaires’ – those whose earnings and assets exceed what could be acquired from a salaried position - according to Coutts & Co, the UK’s leading private bank.
Latest figures produced by Experian on behalf of Coutts, reveal that the South West now boasts over 13,000 aspirant millionaires, although this figure has only risen by 1% in the last 12 months.
“The number of prospective millionaires is still steadily growing in the region and given the market conditions of the previous year, these are very encouraging results. Many of these people have the potential to make fully fledged millionaire status from their assets if they obtain proper financial advice in time,” said Marc Cuddihy, private banker for the Gloucester region.
Most aspirant millionaires are company owners and directors or partners in professional practices says Coutts.However, there are also an increasing number of the younger rich moving into the aspirant millionaire category, including city high fliers and media and sports personalities.
Where are the aspirant millionaires?
The Bristol area has the largest proportion of aspirant millionaires holding 29% of the total aspirant millionaires in the South West. Gloucester is the second most popular area with 17%. Daglingworth is the most popular area in Gloucester with 5.1% of its potential millionaires residing there. This is followed by Woodchester (3.8%), Upton St Leonards (3.3%), Pitchcombe (3.2%) and Tirley (3%).
Marc Cuddihy added:“Despite the upwards trend in the numbers of aspirant millionaires in the region being very slight, we have still seen a significant shift in the profile of our clients.Our typical client is now much more likely to be a self made entrepreneur than someone with inherited wealth; a trend which we think is set to continue.
“The single most important thing for people in this category to remember is to get sound and trusted advice on how to manage their money – especially as many have worked hard for many years to earn it.”
Other findings showed where other aspirant millionaires were found in the South West region:
·Bath – 13%
·Swindon –8%
·Exeter –5%
·Torquay –3%
Coutts & Co’s has two offices in the South West based in Bristol and Bath. In total the office manage over £381m assets on behalf of clients throughout Bath,
Swindon, Gloucester, Bristol, Devon and Cornwall.
For further information, please contact:
Claire Symonds, Press Officer, Coutts Group on 020 7597 2650 or mobile 07970 001149, or email claire.symonds@coutts.com.
Top five individual regions within towns and cities with the largest penetration of aspirant millionaires:
|
Postcode and names of region |
Actual number of residents within postcode with aspirant millionaire status |
Percentage of residents within postcode with aspirant millionaire status | |
|
Bath |
BA1 9 Kelston BA2 7Monkton Combe BA1 5 Sion Hill BA1 8 Swainswick BA2 6 Claverton |
14 165 167 19 149 |
6.5% 4.4% 4.3% 3.3% 3.0% |
|
Bristol |
BS8 3 Clifton Abbots Leigh BS 9 1 Stoke Bishop BS40 7 Butcombe & Rickford & Charterhouse & Burrington & Blagdon BS40 8 Chew Stoke & Winford & Nempnett Thrubwell & Magna BS35 5 Compton Greenfield & Easter Compton |
390 415 59 118 17 |
8.2% 7.4% 4.7% 4.6% 3.6% |
|
Dorchester |
DT2 8 Broadmayne DT11 8 Stourpaine DT9 4 Stallen DT3 6 Preston, Weymouth DT3 5 Broadwey |
42 28 21 31 26 |
0.7% 0.6% 0.5% 0.5% 0.4% |
|
Exeter |
EX3 0 Topsham EX9 7 Otterton EX5 1 Woodbury EX4 4Duryard EX11 1 Ottery St Mary |
50 17 24 36 69 |
1.3% 1.1% 0.9% 0.8% 0.8% |
|
Gloucester |
GL7 7 Daglingworth GL5 5 Woodchester GL 4 8 Upton St Leonards GL6 6 Pitchcombe GL19 4 Tirley |
76 114 63 122 75 |
5.1% 3.8% 3.3% 3.2% 3.0% |
|
Plymouth |
PL20 6 Princetown PL8 1 Newton Ferrers PL9 0 Wembury PL3 5 Hartley PL7 5 Shaugh Prior |
78 28 29 68 15 |
1.8% 1.6% 1.1% 1.0% 0.8% |
|
Swindon |
SN14 7 Castle Combe SN16 9 Oaksey SN26 7 Broad Blunsdon SN15 5 Great Somerford SN1 4 Bath Road |
51 105 21 51 74 |
2.7% 2.1% 1.8% 1.8% 1.6% |
|
Salisbury |
SP5 2 Redlynch SP6 3 Damerham SP5 4 Homington SP5 1 East Winterslow SP5 3 Alderbury |
134 57 26 34 34 |
2.6% 1.5% 1.3% 0.9% 0.8% |
|
Tauton |
TA3 7 Pitminster TA9 4 Mark TA3 5 Creech St Michael TA11 7 Barton Street TA7 9 Shapwick |
43 30 31 13 19 |
1.4% 1.0% 0.8% 0.6% 0.6% |
|
Torquay |
TQ1 2 Asheldon Road TQ14 0 Ringmore TQ 7 3 Malborough TQ9 6 Broadhempston TQ8 8 Slacombe |
35 12 19 21 13 |
0.8% 0.8% 0.6% 0.6% 0.6% |
|
Truro |
TR3 6 Playing Place TR26 3 Lelant Downs TR11 5 Constantine TR3 7 Perranarworthal TR2 5 Veryan |
36 8 35 16 13 |
0.6% 0.6% 0.6% 0.5% 0.4% |
Issued on behalf of the Coutts Group by Coutts & Co, which is authorised and regulated by the Financial Services Authority. Calls may be recorded.