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Friday, January 11, 2013 - Calgary's millionaires are among the country's richest, a magnet for luxury retailers

Calgary’s millionaires are among the country's richest, a magnet for luxury retailers

By Amanda Stephenson, Calgary Herald

CALGARY - Record-breaking luxury home sales and a flood of high-end retailers into the city are just two indicators of Calgary’s growing wealthy population.

Recent statistics from Investor Economics Strategy Consulting show Calgary not only has more high net worth households than any other city in the Prairie provinces, but Calgary’s wealthy are actually richer, on average, than the wealthy in any other Canadian city. Looking only at households with a net worth of $500,000 or more, these wealthy Calgarians average out at a net worth of $3.3 million each. Toronto’s high net worth households average $2.2 million, while in metro Vancouver, the households that fall into that category have an average worth of $2.1 million.

Recently, the national head of a new BMO Private Banking Division — aimed exclusively at meeting the investment and estate planning needs of the ultra-rich — made a visit to Calgary to host information sessions for some of Calgary’s wealthiest.

“Clearly, there is an opportunity given the size of the market,” said Diana Reid.

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posted in News at Fri, 11 Jan 2013 16:58:28 +0000

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