POTENTIAL MILLIONAIRES FAVOUR CARLISLE

16th April 2004

  • 52% of Cumbria’s potential millionaires reside in Carlisle
  • 21% of Carlisle’s potential millionaires reside in Warwick

Carlisle now boasts over half of Cumbria’s1 ‘aspirant’ or potential 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 figures2 produced by Experian on behalf of Coutts, reveal that Cumbria2 now boasts over 6303 aspirant millionaires – with over 330 choosing Carlisle as their preferred location.

"The number of prospective millionaires is particularly strong in the region and 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 Ian Booth, Coutts private banker for the Cumbrian region.

The research has shown that most aspirant millionaires are company owners and directors or partners in professional practices says Coutts.

Where are the aspirant millionaires?

Warwick is the most popular area within Carlisle for potential millionaires, with 21% choosing to reside in the area. It is closely followed by Knowefield (10.5%), Keswick and Kirkbampton (both 5.4%) and Mosser (4.8%).

Ian Booth continued; "Not only are the numbers of aspirant millionaires in the region staying strong, but we are also seeing a significant shift in the profile of our customers. 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."

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Notes to editors:

For further information, please contact:

Claire Symonds, Press Officer, Coutts Group on 020 7957 2650 or mobile 07970 001149, or email claire.symonds@coutts.com (Calls may be recorded).

1 Carlisle is classed as a Government Office Region. Government Office Regions are defined by the Government and details of these can be found at http://www.government-offices.gov.uk/GO/default.asp.

2 The statistics were produced using the Financial Strategy Segments which classifies all 44 million adults in GB into thirty one distinct financial lifestyle types. This is compiled using the GB Postcode Mosaic and the Person Pixel.

3 Actual figure is 639.

Top five individual regions within towns with the largest penetration of aspirant millionaires:

Postcode and names of region

Percentage of residents within postcode with aspirant millionaire status

Actual number of residents within postcode with aspirant millionaire status

Carlisle

CA 4 8 Warwick

CA 3 9 Knowefield

CA12 4 Keswick

CA 5 6 Kirkbampton

CA 13 0 Mosser

21%

10.5%

5.4%

5.4%

4.8%

70

35

18

18

16

Coutts & Co is authorised and regulated by the Financial Services Authority. Registered in England no. 36695. Registered office 440 Strand, London, WC2R 0QS.