A third of wealthy investors are not satisfied with how their wealth is growing, new YouGov research reveals.
The Wealthy Investors report reveals that a third (34%) of wealthy investors are disappointed with how their wealth has grown over the past year. This compares to three in ten (30%) that are slightly satisfied and around one in ten (9%) that are very satisfied. The study found that a quarter (26%) are neither satisfied nor disappointed.
The study classifies ‘wealthy investors’ by the amount of investible wealth they hold and by how much they have invested over the past year. YouGov has defined those with a minimum £100,000 in net-investible wealth as a ‘wealthy investor.
The report also indicates the scale of wealthy investors taking things into their own hands. Approaching six in ten (57%) manage all financial products and investments themselves, and slightly under a quarter (23%) manage some of their products themselves and leave some to professionals. Close to one in ten (9%) hand the running of all their products over to professionals.
Notably, 37% of those who manage all their financial products themselves are disappointed with the growth of their wealth over the past year. It is the same percentage (37%) for those that manage some products themselves while leaving some to be run by professionals.
As may be anticipated, wealthy investors are proactive and careful when it comes to their finances. Almost nine in ten (88%) believe they manage their finances well, while 77% are good at saving up for things that they want. However, seven in ten (71%) state that they are more careful with their finances than they used to be.
By reaching those who currently manage all their financial products themselves, there is a real opportunity for wealth management services. Many of those currently taking matters into their own hands are disappointed with how their wealth is growing, meaning they could well be open to alternative strategies.