Twice a year, working with our partners at Censuswide, we canvas a large sample of high-net-worth individuals – a constituency that is vital to the health and future prospects of the United Kingdom. These are the people who will help create wealth and pay taxes that will support the services the country needs so badly, helping fund the UK’s transition to a greener, fairer society. In the last report, we began our collaboration with Dr Mike Peacey, Senior Lecturer in Economics at the University of Bristol. Dr Peacey has consolidated several of the key measures into a single Index, making it easier to see how sentiment has changed among the UK’s wealth creators. Last time round, when the survey commenced, Russia had not invaded Ukraine. The world now feels like a very different place in December 2022, when this latest work was undertaken.
Unsurprisingly, the Index has fallen significantly. Last time it stood at 67.7. Now, it is 59.5.
This headline barometer is the product of a profusion of detail, covering our respondents’ views of the UK economy, their personal finances and other factors which affect their lives. Much of that detail is in this report. However, as the Managing Partner of a wealth management enterprise, it would be remiss of me to fail to point out that confidence levels stand significantly higher among those of our respondents who take financial advice than those who don’t!
If you are interested in finding out more about the report and the data that sits behind it, please visit our website at www.saltus.co.uk/wealth-index.
In the meantime, I hope you find the third Saltus Wealth Index report enjoyable and its findings useful.