For Immediate Release
Contact:
Hillary Angel
Wilkin Guge Marketing
(909) 390-1239 x104
hangel@wilkinguge.com
Glencrest Releases Results Of 2007
Inland Empire Wealth Study
2007 study moves beyond baseline data analysis to provide Glencrest Investment Advisors with trends about the Inland Empire's affluent population.
CLAREMONT, Calif., May 16, 2007 – Glencrest Investment Advisors Inc. announced today the results of its Glencrest Inland Empire Wealth Study 2007, the only comprehensive study conducted among affluent Inland Empire residents. The study is the third installment of Glencrest's biennial research and the first study to provide trend data about Inland Southern California's wealthiest individuals.
"During our 2003 and 2005 wealth studies, we collected foundational data about the unique needs, interests and concerns of the Inland Empire affluent," said Thomas J. Steffanci, chief investment officer and senior managing director of Glencrest. "With three studies now concluded, our analysis is revealing trends about the region's high net worth population."
On behalf of Glencrest, Wilkin Guge Marketing conducted the 2007 Wealth Study, sending the biennial survey to 11,654 residents in Riverside and San Bernardino counties, Pomona, La Verne and Claremont in February and March of 2007. Residents with Claritas-estimated liquid net assets of $1 million or more were targeted. Over 675 surveys were completed, returned and analyzed, a two-thirds increase over the 408 surveys received in 2005. Hawaiian Airlines and Inland Empire Magazine supported the initiative by providing incentives to respondents for participation.
"Along with our standard survey questions about participants' demographics, psychographics and patterns of spending, saving and investing, this year's study included new questions about the Web usage levels and risk tolerance of respondents," said Greg Timpany, research director at Wilkin Guge Marketing.
Highlights of the 2007 survey's results included the following:
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Over 22% of respondents have a household income exceeding $200,000.
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Over two-thirds of the region's affluent are retired.
57% of the households with net worth exceeding $3 million live in the Coachella Valley.
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Respondents with over $3 million in net worth keep an average of 18.7% of their portfolio in investment real estate.
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20% of affluent Inland households consider themselves "risk takers," willing to exchange higher risk for greater return.
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One-third of households with incomes over $200,000 are willing to exchange higher risk for greater return.
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Over 85% of the Inland region's wealthy listed traveling as a preferred activity.
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The Inland Empire wealthy give most commonly to religious and health charities.
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Over half (58%) of respondents donated less than 5% of their after-tax income to charity.
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62% of the study's respondents agree the continued war in the Middle East will have negative economic effects. This is up from 43% in 2005.
With our preliminary analysis behind us, we can now turn our attention to comparing the results of our study against the results of national studies to see how the Inland Empire stacks up against the nation's wealthy, added Steffanci.
For more information about the results of the Glencrest Inland Empire Wealth Study 2007, contact Hillary Angel at 909-390-1239 or visit Glencrest's Web site at www.gleninvest.com.
About Glencrest Investment Advisors, Inc
Based in Claremont, Calif., Glencrest is a wholly-owned subsidiary of PFF Bancorp, Inc. (NYSE: PFB). With offices in Claremont, Irvine and Palm Desert, Glencrest Investment Advisors, Inc. specializes in wealth management. The firm also offers advanced financial planning and comprehensive investment management to clients throughout the Southern California area. For more information, visit Glencrest online at www.gleninvest.com.
About Wilkin Guge Marketing
Wilkin Guge Marketing is a full-service marketing firm that focuses on aggressive client growth through its proprietary ten-step Brandus Operandi™ process. Agency campaigns include integrated research, brand identity, strategic planning, advertising, public relations, direct marketing, Web development and ongoing customer relationship management. Success is measured in aggressive client growth: When brands leap, business bounds™.
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