Regrets, they’ve had a few.
The deVere Group, which claims to be the world’s largest independent financial advisory organization, asked a sample of its clients in Europe (including the United Kingdom), Asia, Africa, the Middle East and the United States with investable assets of more than $1 million about their No. 1 financial regret.
The answer? Not putting in place a regularly reviewed personal financial plan earlier in life (57%).
The second-biggest financial regret was not consistently scrutinizing personal investments (18%); third was taking on too much unnecessary debt (13%).
The firm adds that 12% cited other regrets, including not saving enough to fund their children’s or grandchildren’s education or not having built a large enough estate to leave to their heirs.
“The poll shows that the No. 1 regret of high-net-worth individuals was not putting in place a robust plan for their personal finances which could be efficiently and regularly reviewed,” Nigel Green, founder and chief executive of the deVere Group, said in a statement.