Inland Empire Wealth Study
Methodology
How was the Study Conducted?
The 2007 Wealth Study is the third iteration of this project. It began with a mailing list developed using Claritas’ proprietary financial behavioral model. Wilkin Guge Marketing sent surveys to 11,654 individuals in Riverside County, San Bernardino County and the eastern portion of Los Angeles County (Pomona, La Verne and Claremont) in February and March of 2007.
The survey requested participation and included questions about investments owned and investing patterns. To assist in trend prediction, questions were asked about respondents’ attitudes toward future investing and the equity market. Additional questions were asked in the areas of activities and interests, charitable giving, demographics, wealth measurement (including total and liquid assets) and media habits.
New to the 2007 survey were measures of Internet use and risk aversion. Respondents were asked to assess the amount of time they spent weekly using the Internet, their reasons for using the Internet and the types of Web sites they visited. A question was also adapted from the Federal Reserve Board’s Survey of Consumer Finances, asking respondents to assess their willingness to trade risk for return when investing.
Over 675 surveys were returned and analyzed during the 2007 study, yielding a +/- 3.76% margin of error. This represented a two-thirds increase in response over the 408 surveys received in 2005. The 2007 survey confirmed previous findings regarding the disproportionate share of wealth in the Coachella Valley; it accounted for 40% of responses overall but 57% of households with $3 million or more in net worth.
Greg Alan Timpany
Research Director Wilkin Guge Marketing
The Glencrest Inland Empire Wealth Study 2007 was administered during February and March of 2007. Data collection for the study was conducted by Wilkin Guge Marketing, an independent marketing and research firm located in Ontario, California. Data analysis was conducted by Glencrest Investment Advisors, Inc. and Wilkin Guge Marketing. The identities of respondents will be kept confidential.
