THE millionaire's club is booming in Oxfordshire, according to top people's bank Coutts & Co.

The bank, whose clients are typically worth about £500,000, said there had been a marked shift from inherited wealth to self-generated wealth.

Steve Howard, client manager at Coutts' Oxford branch, said the trend was particularly prominent in Oxf- ordshire.

He said entrepreneurs, successful business owners and semi-retired couples were among those who have seen increasing affluence in the region.

High salaries and property prices as well as a booming information technology industry had also been factors in the growth.

He said: "We are advising many more people from the IT industry about wealth investment strategies. We regularly meet entrepreneurs who have built their own successful IT business as well as professionals within the IT industry who have taken advantage of large returns on their company share schemes."

He said the bank - the private banking arm of NatWest - was also advising more clients who were looking to maximise capital trapped in their principal asset, their home.

Mr Howard said a recent survey by information firm Experian said that in Oxfordshire, Chipping Norton and Oxford have experienced an average 51 per cent increase in property prices within the last three years.

He added: "Some properties bought ten to 20 years ago will have more than doubled in value in certain areas of Oxf- ordshire.

"We are seeing couples approaching retirement who want to sell their assets and plan for their retirement whole minimising inheritance tax for the future."

Story date: Monday 08 November

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