SA's booming equity market and aggressive deal making has produced a new generation of very wealthy individuals.The number of dollar millionaires in SA has soared in the past two years. In 2006, the 10th annual World Wealth Report by Merrill Lynch and Capgemini reported that SA's 15,9% growth of dollar millionaires in 2005 was phenomenal - well above the global rate of 6,5%.
Millionaires, according to the report, are people who have more than US$1m in financial assets, excluding their primary residence.
But though they may have been successful at making money, wealthy people need different skills to manage and preserve that wealth.
FM, in association with BoE Private Clients, will do a series of special reports that will focus on wealth management. This first report covers personal finance and leisure investments such as cars and art.
