Research published by Nedbank Private Wealth suggests that many HNWI's are under significant stress triggered by the need to safeguard assets and support family, in contrast to long-held assumptions that wealth guarantees happiness or an easy life.

The boutique wealth manager and private bank initiated the research against the ongoing backdrop of global economic uncertainty, which has led business leaders and wealthy individuals to face increasingly complex financial decisions and "mounting personal pressures".

The research was conducted by Opinion Matters, among a sample of 600 Respondents (500 UK, 50 Isle of Man, 50 Jersey) who have claimed investable assets of £1.5m+ or a total net worth of £15m+, and a main residency (more than 6 months of the year) in the UK. The data was collected between 25 April to 1 May 2025.

Among the key findings from the Jersey cohort include:

  • Within Jersey, 100% have concerns about planning and managing wealth (UK: 98%), and 98% experience emotional challenges in doing so (UK: 91%).
  • For over one in four in Jersey, financial risk in an unpredictable world is the most pressing emotional hurdle. This may help explain why 74% said the threshold of what it means to be ‘wealthy’ has risen in the past two years, as they seek a greater sense of security. 78% believe you need over £3m to be considered wealthy in 2025.
  • When asked about respondents’ top emotional challenges, the most popular answers included a feeling of anxiousness about financial risk in an unpredictable world, and the difficulty of balancing business demands with personal or family priorities. The burden of responsibility for others’ financial wellbeing, including employees and loved ones, weighs heavily on the conscience of many.
  • Against a backdrop of popular culture fixated on extreme depictions of wealth, from The White Lotus and Saltburn to Succession, over a third (34%) of Jersey respondents said public narratives focus too heavily on excess and selfishness. Many believe the cultural portrayal of wealth ignores the emotional and moral responsibility it can carry

However, the findings were not heterogeneous. Gender differences were uncovered regarding the emotional challenges, as more women than men across the UK, including Jersey, said the biggest strain was balancing professional and personal demands, and pressures around maintaining a lifestyle or social role. Women were also more likely to feeresponsible for others' financial wellbeing.

The research found in response to legacy issues that over a third (36%) view the topic "through a broader lens – one rooted in ethics, contribution and values and shifting focus towards philanthropy and community impact."

When asked about pressures, respondents pointed to factors such as:

  • Fear of failure
  • Feeling caught in a high-risk, high-reward cycle #
  • Experiencing imposter syndrome.
  • Anxiety that from sacrificing mental health or peace of mind for profit
  • Isolation that stems from being misunderstood, even by those closest to them
  • Difficulties trusting others
  • Maintaining friendships without strain
  • Persistent sense of vulnerability.

Cameron Walker, Head of Private Banking, Jersey at Nedbank Private Wealth, said: "With a warmer climate than mainland UK, a flat income tax rate of 20% and beautiful surroundings, non-Jersey residents financially successful individuals in Jersey may appear to have it all. However, just like in the UK, wealth doesn’t guarantee happiness or certainty."

"The reality is living with wealth can add complexity, pressure and responsibility to one’s shoulders, and with ongoing economic uncertainty, the burden can feel heavier."