The
deliberate edge
New behavioural science study by Paul Dolan, Professor of Behavioral Science, LSE. 200 British HNWIs reveals how they actually live, feel and make decisions about their lives.
“Self-optimisation isn’t maximisation. It’s not constantly searching for more and more. An optimiser is still driven, but trying to balance across the different aspects of life — wealth, family, health. Because everything is dose-response. If I drank ten litres of water now, I’d die — even water is harmful in excess. It’s about finding the right dose, including of wealth, that lets you optimise and not maximise.”
— Professor Paul Dolan, LSE
What the report reveals
84%
of Britain's wealthy actively self-optimise. As the new default operating system of wealth, does this deliberate edge actually deliver?
A different kind of question
Beyond how the wealthy made their money, this ONS-rigorous behavioural study reveals what the money has made of them.
The three traits
The wealthy aren't different in personality, just concentration. Three specific traits run at a higher dosage—and one is entirely unexpected.
84%
of Britain’s wealthy actively self-optimise across multiple domains of their lives.
2/3
say that self-optimisation is a personal priority.
>50%
invest significant time and money in the pursuit of self-optimisation.
The shelves are full of books on how the wealthy people made their money. This new behavioural-science study unpacks the motivations behind the wealth. Three traits differentiate Britain’s wealthy from the rest of the population. One of them is not what you’d expect.
How much wealth do you really need?
Just 5% of Britain's wealthy are completely satisfied with what they have whilst 50% of our sample said they'd need to double their wealth to feel secure.
Seven findings
A surprising conclusion
Finding 1
An addiction to security.
Finding 2
Wealth isn't really about achievement.
Finding 3
They self-optimise across different aspects of their life. Just not in equal measure.
Finding 4
The three traits that separate HNWI from the population at large.
Finding 5
The three traits that separate HNWI from the population at large.
Finding 6
The three traits that separate HNWI from the population at large.
Finding 7
The three traits that separate HNWI from the population at large.
Also in the report: Paul Dolan’s working definition of self-optimisation; a guide to each of the three types of self-optimisers identified; and an appendix.
This isn’t a finance book, a self-help book, or another rich-list profile. This is behavioural science applied to a group that’s notoriously difficult to study.
Read the report
Do you really know how well your wealth manager performed last year?
Who’s behind it.
Professor Paul Dolan
Professor of Behavioral Science, LSE. Designed the ONS national wellbeing questions. Author of Happiness by Design and Happy Ever After.
NewtonX
A specialist market research company that quantitative fieldwork.
200 UK adults with £1m+ in investable assets, verified.
Y TREE
A wealthtech advisory business bringing transparency to wealth management.
