Survey Scope and Methodology
The US Trust High Net Worth Survey, published by Bank of America, draws on responses from families with investable assets typically above several million dollars. The study examines asset allocation, family governance, philanthropy, and generational wealth transfer among affluent households across the United States. Data collection combines online questionnaires and telephone interviews with verified high net worth individuals, with results weighted to reflect broader demographic and economic trends. The survey is widely cited by wealth managers, family offices, and financial institutions as a benchmark for affluent client behavior and expectations.
Respondents are screened based on reported investable assets and household income thresholds, ensuring the sample represents households with complex financial needs. US Trust combines this survey with proprietary client data and market research to produce insights on portfolio construction, risk tolerance, and long-term financial goals. The methodology emphasizes confidentiality and compliance with securities and privacy regulations, and findings are often cross-referenced with public filings and market data from sources such as the SEC. Each wave of the survey updates key metrics on asset classes, giving advisors a fact-based view of how wealthy families allocate capital.
Key Findings on Wealth and Investment Behavior
The survey highlights a strong preference for diversified portfolios, with many affluent households holding a mix of equities, fixed income, real estate, and alternative investments. Direct ownership of private companies and stakes in family businesses remains common, alongside growing interest in private equity, venture capital, and impact investing vehicles. Liquidity needs, estate planning, and tax efficiency are consistently ranked among top concerns, with families seeking integrated advice that combines investment management, legal structures, and philanthropic planning.
Family governance and succession planning emerge as central themes, with many respondents emphasizing the role of formal family offices or advisory boards in managing multigenerational wealth. The survey notes that a significant share of high net worth families use trusts, foundations, or donor-advised funds to align wealth with values and support charitable causes. Engagement with professional advisors is high, yet families increasingly demand transparency, fee clarity, and measurable outcomes from their wealth management partners, as reflected in discussions on platforms like Forbes.
Implications for Advisors and Institutions
Financial institutions use the US Trust High Net Worth Survey to refine product offerings, advisory models, and digital tools for affluent clients. Findings point to demand for holistic services that combine investment execution, retirement planning, tax strategy, and philanthropic guidance under a single relationship. Firms that integrate family office-style coordination, transparent reporting, and personalized communication tend to retain high net worth clients more effectively, according to the survey data.
Advisors who incorporate the survey insights into client conversations can address common concerns around market volatility, intergenerational transfers, and charitable giving with concrete benchmarks. The results also highlight the importance of technology, with many affluent households expecting secure digital access to portfolio data, performance reporting, and goal tracking. Institutions that align their service models with these expectations, and reference credible third-party data such as the Forbes coverage, are better positioned to attract and serve the high net worth segment.