WEALTH MANAGEMENT STRATEGIES 2001.Globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation , privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned and modernization modernization Transformation of a society from a rural and agrarian condition to a secular, urban, and industrial one. It is closely linked with industrialization. As societies modernize, the individual becomes increasingly important, gradually replacing the family, have generated increased revenue streams and profit opportunities for many corporate entities. At the same time, this trend has produced a significant side effect for the individuals who manage global companies: Greater personal wealth. The numbers tell the story. More than 7 million people worldwide own more than $1 million each in assets, a total of $25.5 trillion, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the 2000 World Wealth Report, an annual survey by Merrill Lynch/Gemini Consulting. Their ranks increased 18% from 1998 to 1999. More than a million new people, categorized cat·e·go·rize tr.v. cat·e·go·rized, cat·e·go·riz·ing, cat·e·go·riz·es To put into a category or categories; classify. cat by demographers as "high net worth individuals," were added to the group during that time. And more than 55,000 people are classed as "ultra high net worth individuals" who own assets valued at more than $30 million each. Latin American wealth is also increasing. More than 200,000 Latin Americans This is a list of notable Latin American people. In alphabetical order within categories. Actors
To help these individuals manage their wealth, financial institutions have retooled their services and product lines, offering specially tailored private banking services. Private banks are positioning themselves as expert partners who can provide a constellation of services to meet every need, as well as the information needed to make wise decisions on investment strategies.
1997 1998 1999 2004F
Africa 0.5 0.5 0.5 0.9
Eastern Bloc 0.5 0.5 0.6 1.0
Middle East 0.9 1.0 1.1 1.9
Latin America 2.6 2.7 3.1 5.9
Asia 4.0 4.4 5.4 5.9
Europe 4.3 5.6 6.7 11.6
North America 5.9 6.9 8.1 14.3
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