For the first time within the Insights series, we have dissected the UK data regionally, allowing us take a more in depth look at the investment strategies of wealthy individuals across the UK.
Residents of the United States, please read this important information before proceeding
Please read this important information before proceeding.
This means that as well as getting an understanding of the financial personalities across the UK regions, we have also been able to gain a clearer understanding of the measures investors use to control their investment decisions.
1. London and South East - The high-risk investor craving self-control
Over a third (37%) of wealthy individuals residing in London and the South East possess a desire for greater discipline to their finances. This is slightly higher than the UK average of 34%.
The figures show that along with wishing they had greater discipline, 54% in the region agree that they are willing to take risks to achieve better financial gains.
Consistent with their low composure, just over half (51%) of wealthy individuals residing in London and the South East admit to having a prevention focus. This is above the national average of 48%.
2. North East - The unsatisfied investor desperate for trading discipline
Investors in the North East are the least satisfied with their financial situation in the UK, with 58% agreeing to this statement in the research.
Yet, 47% of wealthy investors say that they are willing to take risks when it comes seeking higher financial returns.
Along with experiencing dissatisfaction, this region is the highest in the UK for wishing that they could have a more disciplined approach to investing. Half (50%) said that they wish for more discipline with their finances, this is 16% above the average and the highest in the UK. This is reflected in more than one in five (22%) saying that they trade too much.
When it comes to composure, the North East has one of the lowest levels, with 46% saying that they become easily stressed.
3. Midlands - The happy trader seeking discipline
The Midlands is the most risk tolerant region in the UK, with 54% investors saying that they pursue high risk investment strategies for higher gains. Yet, 35% say that they wish for greater financial discipline.
A significant proportion (76%) of wealthy investors in the Midlands say that they are satisfied with their financial situation; this is 3% higher than the national average.
However, despite being satisfied, nearly one in five (17%) believe that they trade too much; this is much higher than the average across the UK of 9%.
4. North West - The disciplined investor
More than a third (36%) of wealthy investors describe themselves as risk-takers, making them one of the conservative regions when it comes to taking a chance with their finances.
This is reflected in North West investors' attitudes to financial discipline - only 20% wish for a greater discipline when it comes to their financial approach. Nearly half of North West investors (45%) agree to being more concerned with preventing bad things from happening than ensuring good things happen.
5. Yorkshire and Humber - The laid back investor
Yorkshire and Humber is home to the most laid-back investors across the UK, according to the research results, with just 14% saying that they have an appetite for high-risk investment strategies.
As a result of this low appetite to take risks, this region has a low desire for financial discipline, with less than one in ten (7%) agreeing to this in the findings.
Over a third (36%) of wealthy individuals in this region have a high composure and the lowest prevention focus.
6. South West - The low-risk investor keen to time the market
Like Yorkshire, wealthy individuals in the South West also take a more relaxed approach to their investments and they prefer to attempt to strategically time the market, with 43% agreeing to this. The region has a low preference to risk, with only 32% seeking to pursue high risk investment strategies in order to enjoy higher gains.
With this low risk tolerance, a third (30%) of wealth investors have a desire for discipline. Significant proportions - 70% - of wealthy investors living in this region say that they are happy with their financial situation.
7. Scotland - The stress-free risk-taker
Overall, wealthy individuals in Scotland are content and enjoy pursuing high-risk investment strategies. Over half of the respondents from this region (52%) say that they are financial risk takers and more than three quarters (76%) say that they are satisfied with their financial situation.
Concurrently, this region reports a fairly low desire for discipline, with 32% stating this. Almost a quarter of investors (24%) residing in Scotland say that they have low stress levels.