Wealthy Americans Are Prioritizing Protecting Assets And Limiting Personal Taxes
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Wealthy Americans Are Prioritizing Protecting Assets And Limiting Personal Taxes

By V.L. Hendrickson
Fri, Oct 20, 2023 8:37amGrey Clock 2 min

Protecting assets and minimizing tax liabilities are the top priorities of wealthy Wall Street Journal and Barron’s Group readers, according to a recent personal finance study conducted by WSJ Intelligence.

Around 57% of the more than 3,600 respondents—who had an average net worth of just over US$3 million—said growing and protecting their wealth is their No. 1 priority going into 2024, the data showed. That stands to reason, as 55% of readers were most concerned about inflation and the rising cost of living, while 40% reported that market volatility was their biggest issue.

About 81% of participants were male, with 3,280 of them being over age 55—aka, Baby Boomers. The combined total of Millennial and Gen X respondents was 333. Across wealth bands, the largest number of participants—1,656—were high-net-worth individuals with assets between US$1 million and US$9.9 million, followed by 718 “emerging affluent” respondents (with a net worth of less than US$1 million) and 253 ultra-high-net-worth individuals, with assets of US$10 million or more.

“This study was really to understand the behavior of our financially savvy readers and explore how they improve their financial acumen and make informed investment decisions,” says Donna Zeolla, the associate director of Finance Intelligence for the Wall Street Journal and Barron’s Group.

Certain concerns are unique to those in the highest income bracket, the survey found. For example, members of that group are 22% more likely to be concerned about identity theft and financial fraud than emerging affluents, the data showed. Zeolla said that was a surprise, given how rampant it can be.

The wealthiest are also 28% more likely to be worried about cybersecurity risks in digital banking and three times more likely to be concerned with estate planning and inheritance, according to the report. They are looking to educate themselves on tax planning, private banking, and estate planning—and in turn seeking out content that helps them do that.

Survey participants across wealth bands use a variety of wealth management services, including brokerage, tax and estate-planning services. When selecting an investing company, key considerations are the fee and commissions charged (49%), expertise (44%), customer service (38%), and the company’s reputation (36%), the figures showed.

“Every survey we’ve done here, at least for the 18 years I’ve been here, it’s the same things that they’re looking for in the institutions,” Zeolla says. “They look at fees, right? I don’t care if you’re the wealthiest person, you’re looking at the fees…[and] they look at the trust and the reputation of the companies. That’s always on their minds.”

And while many are loyal to their financial institutions, the richest investors are more open to switching. Only 41% of ultra-high-net-worth individuals wouldn’t consider moving their money to a new company, versus 53% of high-net-worth individuals and 49% of the emerging affluent.

“Wealthier individuals use a variety of different services—they don’t just have one institution that they’re working with, they’re working with many,” Zeolla says. “But what we did find was that the wealthier people were, the more that they’re open for change. It could be because they’re not loyal to one institution.”

Other differences included their preferred credit cards—the wealthiest were concerned about foreign-transaction fees while low interest rates were more important to younger respondents—and the richest also craved the personal touch. About 47% of ultra-high-net-worth individuals don’t use an automatic investing service because it doesn’t cater to their needs vs. 27% of the emerging affluent.



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The computing revolution investors cannot ignore 

Quantum computing is moving from theory to real-world investment. Professor David Reilly says it could reshape finance, security and global technology infrastructure. 

By Jeni O'Dowd
Mon, Mar 9, 2026 3 min

For decades, the world’s computing power has quietly expanded at an astonishing pace.  

From the first transistor developed at Bell Labs in 1947 to modern processors containing billions and even trillions of transistors, each generation of technology has been faster, smaller and more powerful than the last. 

But according to quantum physicist and technology entrepreneur David Reilly, that era of effortless progress is beginning to slow. 

Reilly, CEO of Sydney-based Emergence Quantum and Professor of Physics at the University of Sydney, says the computing infrastructure underpinning modern economies is approaching fundamental physical limits. 

And that could have enormous implications for finance, artificial intelligence and global investment. 

Speaking at an industry event organised by Kanebridge International, Reilly said many critical parts of modern society depend on computing and the infrastructure used to process information. 

The slowdown behind the tech boom 

For years, the technology industry relied on a steady improvement known as Moore’s Law, where the number of transistors on a chip doubled roughly every two years.  

More transistors meant more computing power, allowing faster software, smarter devices and ever-larger data systems. 

Today, however, those gains are slowing. 

“It feels to me very innate that I’m going to just find that next year there’s going to be another breakthrough,” Reilly said. 

“But if you look at the data…there’s a slowing down, a roll off in performance that started some 10, 20 years ago.” 

Rather than making chips dramatically faster, manufacturers are now largely increasing computing capacity by packing more transistors onto each processor.  

The approach works, but it comes with growing complexity, higher costs and increasing energy demands. 

The brute-force race for AI 

That challenge is already visible in the massive data centres being built to support artificial intelligence. 

In the race to dominate AI, companies are constructing vast computing facilities that consume huge amounts of electricity and water. Reilly described this expansion as a “brute force” approach driven by the global competition to develop advanced AI systems. 

Yet the demand for computing power continues to accelerate. 

Artificial intelligence, advanced robotics, healthcare research, pharmaceuticals and cybersecurity all require far more processing capacity than today’s systems can easily deliver. 

The question now facing the technology sector is whether traditional computing can keep up. 

Enter quantum computing 

That is where quantum computing enters the conversation. 

Unlike conventional computers, which process information using binary switches that represent ones and zeros, quantum computers exploit the unusual behaviour of particles at the atomic scale. 

Reilly describes them as a fundamentally different type of machine. 

“So a quantum computer is a wave computer,” he said. 

Instead of processing information through simple on-off switches, quantum systems can use wave-like properties of particles to process many possible outcomes simultaneously. 

Those waves can interact in complex ways, reinforcing correct solutions while cancelling out incorrect ones. In theory, this allows quantum systems to tackle certain types of problems dramatically faster than classical computers. 

What it could mean for finance 

The concept may sound abstract, but its potential applications are significant. 

Quantum computers are expected to transform areas such as materials science, chemical modelling and pharmaceutical development.  

They could also help solve complex optimisation problems in logistics, finance and risk management. 

For financial institutions in particular, the technology could offer new tools for detecting fraud, analysing market behaviour and optimising portfolios. 

But the shift will not happen overnight. 

“One message to take away is that quantum is not going to suddenly solve all of your problems,” Reilly said. 

Instead, he said quantum systems will likely complement existing computing technologies as part of a broader and more diverse computing ecosystem. 

Why data centres may soon “go cold” 

One key change already emerging is how computing systems are physically designed. 

Many next-generation technologies, including quantum processors, operate far more efficiently at extremely low temperatures. As a result, future data centres may rely heavily on cryogenic cooling systems to manage heat and energy consumption. 

Reilly believes that the shift will gradually reshape the computing industry. 

“Over the next five years, you’re going to see data centres go cold,” he said. 

“And as that happens, they almost drag with them new compute paradigms.” 

Emergence Quantum, the company he co-founded, is focused on developing technologies to support that transition, including cryogenic electronics and integrated hardware platforms designed for quantum computing and energy-efficient systems. 

A new technological era 

For investors and businesses, the technology remains in its early stages. But the scale of global interest is growing rapidly. 

Governments, research institutions and technology companies are investing heavily in quantum research, betting it could become a foundational technology for the next generation of computing. 

For Reilly, the moment feels similar to earlier technological turning points. 

In the 19th century, new discoveries in thermodynamics helped drive the development of steam engines and the Industrial Revolution. In the 20th century, advances in electromagnetism led to radio, television and eventually the internet. 

Quantum physics, he suggests, could represent the next chapter in that story. 

“Today we have, as a society, in our hands new physics that we’re just beginning to figure out what to do with,” Reilly said. 

“But I think it’s an exciting time to be alive and watch what happens over the coming decades.” 

 

 

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