The individual wealth score of Britons fell by 8% in the first quarter of the year, according to the LifeSearch Health, Wealth and Happiness Index.

Median household net wealth held steady for the period April 2018 to March 2020 at £302,000, according to the latest figures from the Office for National Statistics.

New research suggests that wealthier investors are the most likely to be victims of financial scams with 49% of those with assets of £250,000 or more saying they have been victims.

The North-South wealth divide is being exacerbated by fewer northerners having a financial plan in place, according to a new report.