Brexit and affluent British INDIVIDUALS

FINANCIAL CONFIDENCE & IMMINENT investment plans

27 January 2020

154 verified Affluent & HNWIs from UK with a median of £216,000 in Household Income were asked about their views on Brexit and how it might affect their investments. Survey in field in January 2020.

With the UK poised to leave the EU next week, Altiant conducted a quick survey among a small sample of its UK affluent/HNW sample in January 2020 (n=154, median household income of £216k). We wanted to understand how Brexit is shaping our panellists’ financial confidence and imminent investment plans, and whether there had been any change in sentiment since we researched the subject last year.

Projected impact on personal finances among UK affluent/HNWIs

There is unlikely to be a significant rush for the exit after January 31st, with the majority of the sample (77%) expecting to remain living in the UK. Nevertheless, 15% say that they are either very likely or likely to emigrate after Brexit, a notable economic loss given the wealth of these individuals (the remaining 8% are unsure).

Figure 1: Projected impact on personal finances among UK affluents

Domestic investments could rise for many after Brexit

While just over half (52%) of the sample expect to make no changes to their domestic investments after the the UK’s EU exit, 23% expect to invest more domestically (with 18% cutting back). This should provide some reassurance to wealth management companies that many affluent Brits will continue to see the UK as an attractive investment location.“I can’t speculate on the effect until all of the facts are known, and will take the necessary actions when the situation is clearer.

Figure 2 : Projected domestic investment after Brexit among UK affluent/HNWIs

In conclusion, many affluent/HNW Brits appear to be adopting a steadfast and resolute approach to the upcoming Brexit date. There is likely to be a degree of conservatism towards investments in the coming quarters, but our snapshot does not suggest wholesale changes for many, while some may even see Brexit as an opportunity.

To view the data set in full, or speak to us about any of your luxury research requirements, please email us at contact@altiant.com

Contributor

Chris Wisson, Knowledge Director

Contact

reports@altiant.com

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