A recent Owner.One survey of 13,500 individuals with net worth ranging from $3 million to $99 million highlights that cand Ultra-High-Net-Worth individuals, especially their heirs, encounter difficulties with asset diversification and regulatory compliance.
The survey reveals that 47% of family wealth consists of financial assets. Despite diverse asset types, a concerning trend in geographic diversification was uncovered.
Almost half (47%) of respondents maintain all their capital and assets in a single country, with only 22% spreading their wealth across three to four countries.
A significant 71.4% of wealth owners focus their assets in just one or two countries.
This concentration is further complicated by Know Your Customer (KYC) regulations for demonstrating ownership continuity and maintaining financial transparency.
Forty-three of wealth holders are unaware of KYC requirements for proving ownership continuity. While 30% regularly file the necessary documents, 21% have faced issues and now manage them more carefully.
Additionally, 20% of wealth successors see the need to improve KYC compliance for themselves and the original capital founders.
73% of private transactions under compliance scrutiny ranged from $134K to $4 million, underscoring the stringent oversight faced by High-Net-Worth and Ultra-High-Net-Worth individuals.
This research highlights the urgent need for improved awareness and management among wealth holders. By addressing asset transfer complexities and ensuring regulatory compliance, High-Net-Worth and Ultra-High-Net-Worth individuals can more effectively navigate their challenges.
The study was conducted across 18 countries, including regions in Africa, the Middle East, Asia, the EU, the UK, and North America.
The study classified participants into three groups:
- Upper-of-the-Middle-Class (UMC) with $3 million in disposable wealth
- High-Net-Worth (HN) individuals owning up to $15 million
- Ultra-High-Net-Worth (UHN) individuals with up to $99 million
- Owner.One is an encrypted digital vault for family assets and capital data, based on blockchain technology. It began as a family and friends initiative to preserve capital, and due to high demand, it expanded to a subscription-based service for middle, high, and ultra-high net worth individuals.
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