Beyond Wealth Study on Financial Management

This report presents the findings of the Beyond Wealth study conducted by First Citizens Wealth in partnership with Logica Research. The study aimed to uncover key insights regarding the behaviors and attitudes of affluent Americans towards wealth management, financial advice, and retirement planning. Data was collected through an online survey involving 1,000 participants with over $500,000 in investable assets. The findings indicate that a majority of affluent Americans feel confident in their financial management skills, with many reporting low levels of financial stress. The report outlines the expectations of affluent individuals regarding retirement savings and wealth transfer, highlighting a significant desire to pass wealth to heirs. Additionally, the role of financial advisors is emphasized, with many affluent Americans relying on them for wealth growth and future planning. The study also details the factors that influence the selection of financial advisors, underscoring the importance of reputation and credentials.