The Wealth Club conducted a survey of 319 of its clients and found that two-thirds (62%) remain confident about their overall wealth, with over half (53%) expecting to see similar returns over the next six months.

However, many feel their are challenges ahead and only 8% of investors think they will see higher returns over the next six months and 34% think their portfolio performance will be worse. Some are concerned about a Conservative or Labour win.

When asked about the three main challenges to their wealth in 2017, over half (52%) say they worry about a slowdown in the global economy, 51% say Brexit and 39% say changes to tax, with the knock-on effect of recent stamp duty and capital gains tax rises front of mind. Just under one in three (29%) list the General Election result in their top three concerns.

Investors say they worry that Brexit (35%) and a potential Labour win (35%) would impact their finances most, while 14% are concerned about the impact of a Conservative win on their overall wealth.

HNW investors also fear an increase in income tax (46%), a rise in inheritance tax (45%) and changes to Capital Gains Tax (40%). A further 29% worry about changes to pensions.

When asked about the top three policy areas that HNWs want to see the Government tackle, Brexit tops the list (79%), followed by the economy (59%) and the NHS (35%). Tax sits further down the list, with only 18% of HNWs selecting this as an area for the next Government to focus on, suggesting that most people want no further changes to tax.

Alex Davies, CEO and founder of Wealth Club and a former director at Hargreaves Lansdown, said: It is encouraging that HNWIs are confident despite ongoing political uncertainty. However there is much for this group to wrestle with over the coming months. This group is increasingly worried about the knock-on effects of Brexit negotiations – this being the main issue on our clients’ minds. The general election is also an area of concern.

He added: “Our clients are in a difficult position as they have little option but to vote for the party that squeezes them least financially, rather than benefits them the most in June’s general election. And while certain policy measures, such as changes to inheritance tax, were absent from the manifestos, history tells us that this doesn’t mean we’re not going to see changes be it with a Conservative government in place, or a Labour government”.