Cleveland - Accounting and consulting firm Rehmann has combined with Cleveland-based Dawson Wealth Management, increasing its wealth management practice to over $1 billion in assets under management. Dawson Wealth Management, formerly a unit of Dawson Cos., has served clients in Cleveland, Akron and the surrounding region for nearly two decades. The merger will add to Saginaw, Mich.-based Rehmann's presence in Ohio. The combined firm will operate under Rehmann's name. Financial terms of the merger were not disclosed.


Philadelphia - The recession has caused a significant number of America's wealthy to re-evaluate their lifestyles, according to the sixth annual Wealth and Values Survey by PNC Wealth Management.Four out of 10 (42 percent) say that they have felt a negative impact on their budget, with one third (34 percent) experiencing a negative effect on their lifestyle.

Nearly nine out of 10 (88 percent) believe it is "more important than ever to live within my means" and two thirds (66 percent) believe they have "developed a greater appreciation for the non-material wealth in my life." Also, concern over children becoming more spoiled has risen dramatically in the last two years. The survey revealed that 35 percent "believe that my children may be too spoiled by money and have too many material possessions," up from 22 percent in 2007.

The survey of 1,046 wealthy Americans, all of whom have at least $500,000 in investable assets, also revealed that they have been impacted in other ways by the recession. Four in 10 (42 percent) have cut their spending on non-essential goods, while three in 10 (29 percent) have provided financial assistance for friends or family who need it.

Among the ultra-wealthy (those with $5 million or more in assets), 39 percent are more likely to have provided financial assistance to friends or family, compared to 26 percent of those with assets of $500,000 to $1 million.

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