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A third of wealthy investors dissatisfied with how money is growing


A third of wealthy investors are not satisfied with how their wealth is growing, YouGov research has revealed.

The Wealthy Investors report reveals that a third (34 per cent) of wealthy investors are disappointed with how their wealth has grown over the past year.
This compares to three in 10 (30 per cent) that are slightly satisfied and around one in 10 (9 per cent) that are very satisfied. The study found that a quarter (26 per cent) 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 GBP100,000 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 10 (57 per cent) manage all financial products and investments themselves, and slightly under a quarter (23 per cent) manage some of their products themselves and leave some to professionals. Close to one in 10 (9 per cent) hand the running of all their products over to professionals.
The survey found 37 per cent 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 per cent) for those that manage some products themselves while leaving some to be run by professionals.
Wealthy investors are proactive and careful when it comes to their finances. Almost nine in ten (88 per cent) believe they manage their finances well, while 77 per cent are good at saving up for things that they want. However, seven in 10 (71 per cent) state that they are more careful with their finances than they used to be.
Stephen Harmston, head of YouGov reports, says: “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.”

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