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Maryland Edges Hawaii From Top of Millionaire Ranking


October 27, 2011 - Rhinebeck, NY

Phoenix Marketing International, a global marketing services firm, today released their annual ranking of millionaires per capita by state. The results from their Global Wealth Monitor, a service that tracks affluent and high net worth households in the U.S., Canada and Europe, shows that Maryland has supplanted Hawaii by a fraction as the state with the greatest number of millionaires per capita.

Phoenix's annual market sizing analysis and aggregate wealth rankings shows that approximately 7.22% of Maryland's households are millionaires, compared to Hawaii's 7.21%. Hawaii had led the Phoenix rankings since 2008. Phoenix defines a millionaire household as one with $1 million or more in investable or liquid assets (excluding sponsored retirement plans and real estate). Rounding out the top ten states in millionaires per population are New Jersey (7.19%), Connecticut (7.13%), Massachusetts (6.41%), Alaska (6.39%), Virginia (6.26%), New Hampshire (6.06%), California (6.01%), and the District of Columbia (5.88%).

"A few things are noteworthy from this year's millionaire rankings," says David Thompson, Managing Director of the Phoenix Global Wealth Monitor. "First, this is the closest it's ever been between the top two states. Second, all of the top ten states increased their millionaire ratios during the past year, which underscores that the richest states keep getting richer," continues Thompson.

Phoenix computes its data on the size of affluent and high net worth U.S. households on a mid-year to mid-year basis. As of the end of June, 2011, Phoenix estimates that the number of millionaires in the U.S. grew by 6.9% from the previous year, numbering some 5.9 million households.

For more detail about this latest research from Phoenix Marketing International please use the following link: http://www.phoenixmi.com/pdf/PhoenixGWMUSStateRankingsMillionaires200611.pdf

About the Phoenix Global Wealth Monitor
The PMI Global Wealth Monitor (GWM) is a syndicated research tracking platform that continuously surveys affluent and high net worth investors and consumers in the U.S., Canada and Europe. Many of the leading global wealth and asset management firms subscribe to the GWM for its insights and trend-tracking data.

Phoenix Marketing Contact:
David Thompson
Managing Director
PMI Global Wealth Monitor
860-404-5414
Email Contact

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