Malaysia, Indonesia and Thailand are home to Asia's happiest millionaires while those in Singapore, Hong Kong and South Korea are the least content, according to a new report.
The findings, part of the Futurepriority Report 2012 and published by Scorpio Partnership and supported by Standard Chartered Priority Bank, gathered views from individuals worth more than US$1.4 million (RM4.4 million).
"The results are striking. The Malaysian, Indonesian and Thaimarkets have shown positive exuberance in these tough markets when it comes to wealth creation, and is matched only by Indian millionaires. The linkage between happiness and confidence in wealth creation ambitions is significant," said Catherine Tillotson, Managing Partner at Scorpio Partnership.
In a report by CNBC, CEO of Wealth-X Mykolas Rambus said, "Despite the pessimistic economic outlook and global challenges, Southeast Asia continues to be a major growth area when it comes to ultra high net worth individuals (those worth more than $30 million [RM94 million]). Wealth-X uncovers new ultra rich in Malaysia and Indonesia on a daily basis."
Some 89 percent of the 2,800 survey participants wanted more guidance about how to manage their investments, while 86 percent specified a need for more education about how best to manage their wealth.
Banks dominate when it comes to money management, with 69 percent of Asia's wealthy having this relationship. Financial advisors, online investment firms, private banks and wealth advisors all jostle for second place in terms of popularity.
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