IFAs looking for new leads and potential High Net Worth clients should consider doing business in Sh...
IFAs looking for new leads and potential High Net Worth clients should consider doing business in Sheffield, where there are more HNW individuals than Windsor or Sevenoaks.
It is no longer just the South-East or regions such as Harrogate which hold a strong percentage of the nation's wealthiest individuals, says a study by Barclays Private Clients, as almost 8% of Sheffield Hallam's community now earns more than £60,000 per year.
Figures quoted by Barclays say this figure is higher than regions such as Windsor, which sees 7.8% of its local community earning the official HNW level, alongside Sevenoaks with 7.7% and Tunbridge Wells with 7.5%.
Despite this evidence, the bulk of such individuals do still live in the South of the country, as Kensington and Chelsea tops the table with 12.5% of its population earning over £60,000 per year, and Beaconsfield in Buckinghamshire sitting in second place with 10.9%.
Gordon Rankin, marketing director of Barclays Private Clients says: "It may surprise some people that a suburb of Sheffield has so many high income earners. However, Sheffield is a big urban centre, attracting many professionals and business people to the area. Sheffield Hallam has traditionally been one of the more affluent areas of south-Yorkshire but the degree of affluence is obviously much higher than expected."
Tatton in Cheshire is the next highest ranked area outside London and the South-East with 7.7% affluential, followed by Macclesfield with 7%, Leeds North-East with 6.9% and Bristol West with 6.7% earning over £60,000 per year.
In London, Poplar and Canning Town only hold a middling 3% of the population earning over £60,000 per year but of these over a quarter (26%) are under the age of 30.
The same scenario can be found in "the new Batterseas and Islingtons of London" as Southwark and Bermondsey hold 22.7% of the under 30s HNWs, with Bethnal Green not far behind. Outside London, the next highest proportion of young affluentials are in Leeds Central which has 19.4% of the under 30s group.
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