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High net worth households increasing in St Petersburg and Tampa Bay

High net worth households are increasing in St. Petersburg and Tampa Bay. IXI Corporation defined high net worth households, for this comparison, as households with at least $3 million in assets. and the increase in these households in Saint Petersburg/Clearwater/Tampa is as follows, according to a summary of the IXI statistics by the Tampa Bay Business Journal:

2006:  8,285 households with over $63 Billion in assets.

2007: 10,724 households with over $78 Billion in assets.

In that one year alone, the number of high net worth households increased by nearly 30% and the assets increased by nearly 24%. It’s no wonder that more private banks and wealth management divisions are targeting the Tampa Bay area and not just in the big cities – Belleair (a town of 4,067 people, just south of Clearwater) was an early site for Northern Trust Bank and US Trust is currently building an office there.

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