One thing advisors should not be doing, if they want to stay out of these databases, or at least out of the sights of lawyers like Jake Zamansky who sue them for a living, is sell clients like Solera bonds paying 11%.
The U.S. has 540 billionaires, more than any other country in the world. It’s followed by mainland China with 251 (Hong Kong has another 69) and Germany with 120. Russia has 77, ten-figure fortunes, 11 fewer than last year, while Brazil is down 23
In 2014, the balance of WMPs grew from 10.2 trillion yuan to 15 trillion yuan, up 47.25% year-on-year.
The growth deceleration in equity, commodites and other asset prices last year also dragged down some of the wealthy individuals' net worth, according to the report.
Indeed, almost 6,000 people fell out of the ultrahigh-net-worth bracket last year – a 3-per-cent slide from the year before