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Analysis Paralysis: Investors are More Worried and Not Taking Action Money is on the minds of Affluent Americans. In 2023, 65% of Americans reviewed their total net worth monthly or more often, a 7% jump compared to 61% in 2022. What about the Higher-Earners and High-Net-Worth individuals? They're even more likely to review their total net worth more often than those who are simply affluent. Astonishingly, the study found that 40% of Affluent Americans worry about their personal finances and yet haven't done much to fix it. What's worse is that this number is nearly 30% higher than last year when only 31% of Affluent Americans worried about their personal finances and weren't doing anything to fix it. When taking in both of these insights, it seems that in the face of checking their finances more often, Affluent Americans are paralyzed about what to do next. This represents a tremendous opportunity for financial advisors to step in and address this increasing anxiety with clear, actionable solutions for clients. Among the uber affluent (High Earners and High-Net-Worth individuals combined), once again, this number decreases slightly (Higher-Earners at 34%, and High-Net- Worth individuals at 27%), which is interesting because it solidifies the previous point— we know uber affluent Americans are worrying less, regardless of market volatility, inflation, and global crises. Still though, even among the uber affluent, there's a clear opportunity for advisors with nearly one-third uber affluent feeling stuck. 40% of Affluent Americans worry about their personal finances and yet haven't don't much to fix it. Strategy to Consider Use this as an opportunity to provide creative solutions and products to clients to drive engagement and quell their concerns. Opportunity: Consider looking at the client referrals received over the last 12 months. Have you followed up to thank those who made the referral? As wealthier investors get more engaged in their finances, now is a great time to do proactive referral outreach to let current clients know you are there to serve their friends and network, too. ©2023 Envestnet, Inc. and The Center for Generational Kinetics. All rights reserved. 6

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