New York – November 10, 2011 – Half of the “top 1%” – the portion of the population that Occupy Wall Street protestors argue benefit unfairly from the country’s economic and political system – don’t see themselves as being part of that elite group, according to a new survey published today. HNW, Inc.’s WealthPulse: Occupy Wall Street also reveals that as many as two-thirds of the “1%” do not sympathize with the Occupy Wall Street movement. The poll surveyed 100 people who make more than $350,000 annually, making them part of the “1%,” at least in the view of the protesters. All respondents also had a minimum of $1 million in investable assets.
Conducted by HNW, Inc., a leading marketing firm catering to premier financial services institutions, the WealthPulse: Occupy Wall Street poll uncovers the thoughts and feelings of the “1%” about the protest movement. Occupy Wall Street continues to receive media attention and financial support, with many arguing that the current economic and political system leaves the other “99%” behind. The movement has resulted in widespread protests around the country and the world and could have far-reaching implications for financial institutions.
“The fact that as many as half of the ‘1%’ do not even consider themselves part of that demographic has real implications for how the financial services industry speaks to the high-net-worth. You’ve got to understand how they define themselves in order to connect with them,” said Stacey Haefele, CEO of HNW, Inc. “Moreover, it’s vital in this increasingly heated conversation about income disparity to understand how the affluent feel – not only about themselves and their financial well-being but also about the institutions they rely on to help manage their wealth. Both are targets of the movement.”
The survey’s additional key findings include:
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