Van Lanschot releases its 2015 Dutch Wealth Report

  • Millionaires much more upbeat about the economy: 46% expect an improvement (compared with 28% in previous report)
  • Millionaires’ assets back at pre-crisis levels, averaging €2.9 million
  • 49% of millionaires rate quality of Dutch health care as inadequate and see further deterioration; expect to buy in extra care
  • Only 24% of millionaires expect their children to be better off than themselves
  • Popularity of charitable giving doubles

Van Lanschot today releases its 2015 Dutch Wealth Report. The report, which summarises research by Statistics Netherlands and market researcher GfK and was commissioned by Van Lanschot, gives a picture of the millionaires of the Netherlands, and what drives and engages them. Three themes take centre stage this year: health care, impact investing and art.

Richard Bruens, the member of Van Lanschot’s Board responsible for Private Banking, observes: “Millionaires have to set priorities, just like everybody else. Keeping up their standard of living, reliable health care, pension provision and other objectives all vie for a place at the top of the list, even for the wealthy. This report presents the views and attitudes of this country’s millionaires towards their assets and towards socially relevant themes, and sheds light on an influential group of people who tend not to occupy the limelight.”

Back to pre-crisis levels

Dutch millionaires have seen their wealth return to the levels recorded before the financial crisis of 2008, with assets averaging €2.9 million. And they’ve become a lot more upbeat about the economy than they were only a few years ago: in 2014, 46 per cent of wealthy individuals reckoned the country’s economic outlook would improve a little to a lot, a surge of 18 per cent on 2013. On the whole, millionaires are a lot more sanguine about economic developments than the average Dutch person. Yet despite this generally brighter mood, one-quarter of millionaires have their doubts about the country’s economy and the developments of their own assets going forward.

The next generation won’t have it so good

Millionaires are doing financially better than their own parents but don’t expect their children to be in the same situation: 34 per cent believe their children’s financial futures will be slightly to a lot worse than their own position. Leaning how to handle wealth properly is considered of prime importance.

Charitable giving gaining in popularity

Despite their less positive prospects, the children of Dutch millionaires don’t always stand to inherit everything. The number of millionaires intending to leave a sizeable proportion of their wealth to charitable causes has doubled: from 12 per cent in 2013 to 24 per cent in 2014. In fact, multi-millionaires record a spectacular increase on this score: from 20 per cent to 59 per cent. And the number of millionaires looking to gift a substantial share of their assets to charitable causes while living has gone up from 13 to 19 per cent.

Health: a major concern

Dutch millionaires and ordinary Dutch people are in remarkable agreement on the one theme that requires investment going forward. Health care comes first, followed by education. About 50 per cent of millionaires rate the quality of health care as inadequate and expect conditions to get worse, while a large majority (76 per cent) are looking to take matters in hand by providing for their own care if need be.

Adding social value

48 per cent of these wealthy individuals are interested in impact investing. Financial solidity and profitability are a prerequisite, though, with a large majority looking to at least recoup their initial outlay, and 39 per cent stipulating actual financial returns.

Enjoying art

The survey found that 59 per cent of millionaires take an interest in art – a good many more than the average 44 per cent reported for their fellow citizens – and 42 per cent actually have a collection of their own. Of those with their own collections, 78 per cent define its purpose as pleasure, with only 22 per cent considering it an investment. Most millionaires see a role for wealthy individuals in supporting the art sector.

A survey of Dutch millionaires

The Netherlands has over 98,000 households (1.3 per cent) with assets in excess of €1 million, and millionaires typically have annual disposable incomes of three times the figure for average households. In 2013, the Dutch towns of Blaricum and Bloemendaal were home to the highest relative proportion of millionaires; in absolute terms, most millionaires live in Amsterdam, Breda and Westland.

Vermogend Nederland | Dutch Wealth Report 2015 sets out the findings of the third large-scale study into millionaires in the Netherlands. Commissioned by Van Lanschot, the research breaks down into two parts: Statistics Netherlands’ description of millionaires in the Netherlands (2013) and a survey of a representative sample of millionaires by market researcher GfK (2014). In addition to the research findings, the report also has interviews with health care consultant and entrepreneur Henk Pastoors, impact investor Pieter Oostlander and art connoisseur and auction expert Johan Bosch van Rosenthal.

The full research report, Vermogend Nederland | Dutch Wealth Report 2015, available in Dutch only, can be ordered or downloaded from http://www.vermogendnederland.nl

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