The majority of high net worth (HNW) individuals believe their wealth has a positive impact, according to a new report.
Responding to a survey by Bermuda-based Triangle Life Insurance, 88% of HNW individuals said they believe their wealth has a positive effect, with 66% describing that impact as very significant.
Wealthy individuals are particularly motivated by their positive impact close to home, with 98% of respondents focusing on improving their family’s quality of life, 96% focusing on ensuring financial security, and 82% leaving a legacy.
Looking further afield, 35% said they want their wealth to create local jobs, while 30% said they want to help promote education and the arts.
The majority of HNW individuals believe they have a responsibility to make a positive impact with their wealth – but this opinion is split, with 46% agreeing and 30% disagreeing.
Niall O’Hare, chief executive of Triangle Life, said: “Our report shines a light on the thoughts and motivations of the clients we seek to serve.
“Our aim is two-fold: to provide new and timely insight into HNW individuals around the world, and also to support advisers in providing the best advice to their myriad of clients.”
