Rich Getting Richer Fuels Demand for Advisors

Get a load of Richie Rich.

Personal wealth grew nearly 11% globally last year, more than double the rate at which it grew the prior two years, according to the latest UBS Global Wealth Report. But while average wealth grew, median wealth actually declined in most countries examined in the report, as the gains tended to be concentrated among the upper crust. The US has the largest slice of the pie, accounting for more than a third of the world’s personal wealth. It’s welcome news for wealth managers: You won’t have to go too far to find your next client.

“It is the biggest economy, it’s the frontier country in terms of innovation, and these are the engines of wealth creation,” said James Mazeau, an economist at UBS.

Living La Vida Regular

While global wealth is growing, being a millionaire sure ain’t what it used to be. “We talk a lot about millionaires, but nowadays, what does it really mean?” Mazeau said. “Imagine owning a flat, maybe you’ve inherited it, and you don’t have a very large income, and maybe you have a pension pot, you might already be a millionaire, and yet you’re not living la vida loca.” In fact, $5 million might be a better starting point. UBS breaks that world into three tiers: $5 million to $10 million, $10 million to $50 million, and $50 million to $100 million. There are roughly 7 million adults across the three categories, with more than 4 million in the US. Over the past five years, the number of people in the US with $5 million to $100 million grew at a rate of about 7%, with their collective wealth growing at a rate of around 8%. 

The report also showed: 

• The US accounts for nearly half of the world’s new millionaires, minting them at an average rate of 1,200 a day.
• The global billionaire population now stands at roughly 3,300, up about 13% between April 2025 and April 2026, while their combined wealth rose about 25%. 

Empire State of Mind. The global wealth pyramid is looking more and more like the Empire State Building than a pyramid these days: The two lowest wealth brackets are nearly equal, as those with assets under $10,000 make up 42% of the world and people with assets between $10,000 and $100,000 make up 41% of the world. UBS predicted that if present trends continue, these two brackets will soon trade spots as people move up the wealth ladder.

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