The top financial regret of a majority of high-net-worth individuals is not having a financial plan earlier in life, according to the deVere Group.

When asked what their first financial regret is, 57 percent of 659 deVere Group clients responded that it was not having set up a reviewable financial plan sooner. The clients who were queried by deVere had at least $1 million in investable assets. DeVere is an international financial consulting and investment group.

The second largest group, 18 percent, regretted not regularly assessing the performance of their investments. Thirteen percent regretted accumulating unnecessary debt, and 12 percent cited other lapses such as not saving enough to fund their children’s or grandchildren’s education or not having built a large enough estate to leave to heirs.

From the responses, Nigel Green, founder and CEO of the deVere Group, says, “It’s clear that wealthy individuals value highly the benefits and opportunities that long-term financial planning brings them and their families, and that they understand the importance of routinely reviewing those plans to ensure that they always remain on track to reach their financial goals.”

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