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WAM Insights: High Net Worth Investors’ Optimism Grows for the Fourth Straight Month

September 1, 2020

Economic Outlook:

The Phoenix Wealth & Affluent Monitor Economic Optimism trend line increases from 38% in July to 41% in August among HNW investors, marking another new record high since the COVID-19 pandemic hit the US. This month is also the fourth straight in which Economic Optimism has grown among the HNW audience. Additionally, optimism improves among the Mass Affluent investor segment, improving to 40% in August, up from 37% in July. This month’s ratings by Mass Affluent nearly match the post-COVID peak of 42% seen in June, but are still a strong improvement compared to March 2020 when levels fell to merely 26%

Investing Outlook:

The Wealth & Affluent Monitor’s Investment Outlook – the percentage of affluent investors planning to increase their level of investments in the next three months – sees little movement for the fourth month in a row, as around 1 out of 3 total respondents report that they will increase their investments in the coming months. The current plan for close to two-thirds of both the Mass Affluent and HNW audience continues to be making no changes to one’s investments or finances. For the second straight month, less than 5% of either segment indicates that they plan to reduce their level of investment in the near future.


Results from the August 2020 Phoenix Wealth & Affluent Monitor continue a slow and steady improvement in investor sentiment since COVID-19 first began, though Economic Optimism ratings are still well below pre-pandemic levels. Though affluent investors’ optimism is trending in the right direction, that feeling has not yet translated into tangible actions, given that merely 1 in 3 respondents plans to increase their financial investments over the next three months – a number that has remained steady for several months. Regardless, the passage of time since the worst of the Coronavirus outbreak began has helped drive a notable uptick in positive sentiment among investors, a trend that bears watching as the fall elections approach quickly.


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