UHNW investors in the U.S. are feeling more optimistic about the economy and their own portfolios compared to four years ago, according to a recent UBS survey.
The survey, conducted in August 2024, found that 74% of investors feel “very optimistic” about the next six months, compared to 57% in 2020. Additionally, 55% expressed high optimism about the U.S. economy, while optimism dropped to 42% when asked about the global economy.
Despite recent economic uncertainty, UHNW investors are nearly evenly split on which candidate would better manage the economy in the future. Of those surveyed, 49% believe Harris is better for the economy, while 51% believe Trump is a better choice.
Some Investors Believe Harris Is Better for the Economy
Those who believe Harris is better for the economy cite her policies focused on the middle class, her approach to tax laws, and her preservation of the Fed’s independence.
Others See Trump as a Better Economic Leader
On the other hand, some investors think Trump is better for the economy due to his immigration policies, his stance on green energy, and his lower regulatory approach to trade.
While the economy is the number one electoral issue for investors, with 84% of respondents considering it their main concern, social security (71%), immigration (68%), taxes (69%), and healthcare (66%) also rank among their top worries.
Investors Want Help Navigating the Elections
Most investors seek guidance on navigating the elections and better understanding their impact on portfolios. A significant 78% of respondents agreed with the statement, “I want to better understand the impact of the elections on my portfolio.”
Additionally, a financial plan eases election-related uncertainty. A vast majority (92%) of those surveyed believe that “a financial plan will help me weather market volatility related to the elections,” according to UBS.
UBS surveyed 971 investors in the U.S. with at least one million in investable assets from August 13 to 19, 2024.
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