Media Contact: Joan Collins Publicity (608) 222-2899
Women in Wisconsin make up 38 percent of the state’s high net worth residents, defined as those with investable assets of $l million or more, according to a recent BMO Private Bank study.
John Sylla, managing director of BMO Private Bank in Dane, Walworth and Rock counties, said that women’s wealth in Wisconsin is increasing approximately eight percent a year and women are controlling more of the family’s finances.
The study also revealed that half of Wisconsin’s affluent males and females made the majority of their wealth on their own. Sylla said the survey also found that education matters. Almost three quarters of Wisconsin’s wealthy are college graduates. Also, 18 per cent of Wisconsin’s millionaires are “new Americans”, having either immigrated to the U.S. themselves or at least one parent was born outside the country.
The study also indicated that women make up more than one-third of the nation’s wealthy. One fourth of all millionaires are under the age of 40.
The online survey was conducted by Pollara, between March 28 and April 11.
About BMO Private Bank, a Part of BMO Financial Group
BMO Private Bank offers a comprehensive range of wealth management services that include investment advisory, trust, banking and financial planning to meet the financial needs of high net worth clients. Through integrated teams of experienced financial professionals, BMO Private Bank helps its clients realize their financial and lifestyle goals with solutions that are custom tailored and delivered with the highest level of personalized service.
BMO Private Bank is a brand name used in the United States by BMO Harris Bank N.A. Member FDIC. Not all products and services are available in every state and/or location.