In second and third place is Japan, with 1,056,800, and the UK, with 815,000, respectively, according to the research firm’s Worldwide migration of HNWIs over the past decade report.

Rounding out the top ten countries for global millionaires – defined as those with net assets of at least $1 million (excluding primary residence) – are: Germany (731,900); China (507,800); Canada (272,900); Switzerland (265, 800); Brazil (262,400); France (244,100); and Singapore (225,000).

Between the review period spanning 2003 to 2013, the US logged 42,400 in net inflows of high net worth individuals, behind Singapore (45,00) and the UK (114,100). It emerged that the UK has been the top beneficiary of high net worth individuals from abroad over the past ten years. Most of these individuals came from Europe, China and India – although there were also “substantial numbers” from Russia, the Middle East and Africa. Inflows into the US came primarily from the UK, Europe, India and Russia, while Canada saw strong inflows from Europe, the UK and South Africa.

Some of the data may be of interest to those working in the wealth management sector during a time of increased globalization of wealth and geographic dispersion of high net worth individuals themselves. Wealthy clients, for example, depending on where they are based in the world, will be used to working with their advisor/s in a certain way. It is becoming increasingly apparent by the industry that finding the right advisor-client relationship fit is an important component of the wealth management process.

In findings, London tops the ranking of top cities for global millionaires, with 339,200 high net worth individuals in 2013, followed by New York City (300,100) and Tokyo (226,500). Rounding out the top ten are: Singapore (225,000); Hong Kong (164,500); Los Angeles, CA (159,800); Chicago, IL (128,100); Frankfurt (120,000); Mexico City (118,800); and San Francisco, CA (112,700).

Meanwhile, Switzerland’s Geneva claimed top place for millionaire density (5.9 per cent), with a 2013 metropolitan population of 1.3 million and a high net worth population of 74, 300. Zurich, with a population of 1.8 million and high net worth individual count of 84,400, has a millionaire density of 4.6 per cent. In third place is Singapore, with a millionaire density of 4.5 per cent, followed by San Francisco, CA (2.6 per cent) and London (2.5 per cent).

According to the World Wealth Report 2013 - compiled by RBC Wealth Management and Capgemini - the population of high net worth individuals grew by 9.2 per cent to reach 12 million in 2012. Global high net worth wealth also rebounded substantially, increasing by 10 per cent - after declining in two of the past five years.