Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS

Share on StockTwits

Top 3 financial priorities of millionaires: revealed


March 11, 2024 ( Newswire) A new global survey conducted by deVere Group, using insights from some 750 clients with more than £1m/$1.2m in investable assets, reveals the top three financial priorities that shape the decision-making of high-net-worth individuals.

The poll shows that 59% of the clients surveyed cited ensuring that they had enough money for their desired retirement was their number one financial priority.

Nigel Green, CEO of deVere Group, says: "The emphasis on retirement planning reflects a growing awareness even among high-net-worth individuals of the importance of securing their financial future as soon as possible to maintain their desired lifestyle in retirement.

"As individuals accumulate wealth, the focus shifts towards preserving and enjoying that wealth during their later years, underscoring a strategic approach to financial longevity.

"HNWIs are increasingly looking for comprehensive wealth management strategies that not only grow their assets but also ensure a seamless transition into a financially secure retirement.

"This aligns with a broader societal trend of recognising the need for adequate financial planning to maintain a comfortable lifestyle after work as we're living longer, meaning the money we save throughout our working lives has to last longer.

"In addition, in the future, it's unlikely that governments will be in a position to support older people like they have done for previous generations; plus many company pension schemes have ballooning deficits."

The second most cited financial priority, identified by 20% of respondents, is growing and protecting current wealth to provide for loved ones now.

Of the findings, Nigel Green comments, "HNWIs are increasingly focused on preserving and expanding their wealth to help safeguard the financial future of their loved ones in real-time.

"It could be reasonably assumed that this has come into sharper focus during the recent cost-of-living crisis, when families were squeezed harder financially."

The third most cited priority is amassing wealth to pass on a larger estate, as highlighted by 17% of respondents.

"The aspiration to be able to pass on as much as possible to our loved ones is a very human instinct," notes the deVere CEO.

"The survey's results illustrate the commitment among HNWIs to create a lasting financial legacy for future generations."

Legacy planning involves intricate financial strategies, such as establishing trusts and effective tax planning, to ensure the smooth transfer of assets from one generation to the next.

As family values and the preservation of wealth become central themes for HNWIs, the survey results highlight a shift towards more intentional and strategic estate planning.

4% of respondents shared different priorities.

The deVere Group's survey not only provides a valuable snapshot of the financial priorities shaping the decisions of high-net-worth individuals globally, its CEO says it also highlights how financial institutions and advisors must respond to meet the needs of their affluent clientele.

"Understanding the nuances of retirement planning, family-focused wealth management, and legacy planning will be crucial for financial professionals working with high-net-worth clients."

He concludes: "The survey reveals that despite their accumulated wealth, millionaires aren't resting on their laurels and remain committed to working hard to maintain financial security for themselves and their loved ones."

t: +44 207 1220 925
Twitter: @PriorConsults

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire

Global investors must adhere to regulations of each country. Please read privacy policy:

That's all it takes to get an article published on Investor Ideas - Learn More