Wealth creators around the world are less confident about their ability to make money this year, according to a report released Tuesday by Scorpio Partnership as part of its ongoing Futurewealth Project.
Companies that sell high-end products will have to fine-tune their approaches in order to attract and retain these elite consumers, the 2012 Futurewealth Report: A Client Revolution said.
The Futurewealth Project, which is sponsored by Standard Chartered Private Bank and SEI, is a long-term global initiative launched in 2009 to uncover the attitudes and expectations of elite consumers, according to a statement. It asks them how much they made in the last year and how much they expect to make in the next year.
"So far, we have found wealth confidence for the future consistently outstrips past performance by a considerable margin," the report said.
This year, respondents' short-term wealth confidence slipped significantly. In 2010, the gap between wealth confidence and actual performance was 42 points. In 2011, the gap narrowed to 33 points. Confidence fell back several points even in Asia, where increasing numbers of respondents are reporting actual wealth growth.
