As new research reveals 91% of high-net-worth individuals experience emotional strain, Rob Currie, head of private banking, UK at Nedbank Private Wealth, explains why traditional wealth management must evolve to meet clients’ deeper needs.

The Hidden Weight of Wealth

A staggering 91% of high-net-worth individuals (HNWIs) experience emotional challenges tied to their financial status, according to new research by Nedbank Private Wealth. While wealth might seem like a solution to many problems, for those who have it, it often brings an entirely different set of pressures.

“Our findings showed the top emotional challenges among respondents were anxiety about financial risk in an unpredictable world, balancing business demands with personal or family priorities, and feeling financially responsible for others including family, friends and employees,” says Currie.

And the emotional burden doesn’t end there. HNWIs also report struggling to prioritise personal goals over others’ needs and trying to live up to external expectations, be it maintaining a certain lifestyle or fulfilling a perceived role in the community.

This research follows closely behind the release of the 2025 Sunday Times Rich List, a yearly snapshot of the UK’s wealthiest individuals and families.

But behind the headlines and eye-catching net worths lies a more complex reality.

“It goes without saying that some aspects of life such as family networks and education can indeed prove a helping hand in building wealth,” he notes. “But it is likely the majority, if not all, will be living with or have experienced a unique set of sometimes hidden pressures and emotional challenges that come with being in their shoes.”

Among those hidden pressures are feelings of being caught in a relentless high-risk, high-reward cycle, the guilt or concern over time spent away from loved ones, and a deep-seated fear of failure, particularly when others rely on them financially.

Evolving the Adviser Role

So, what does this emotional complexity mean for the world of private banking and wealth management?

Currie believes the industry needs a significant mindset shift. “Modern-day advisers recognise that financially successful individuals may be facing a multitude of hidden pressures, both financial and emotional, at any one time,” he says.

These pressures go beyond market performance. They include personal anxieties around choosing the right investment strategies during global instability or the emotional weight of supporting employees and communities.

“It is vital advisers take the time to understand the particular challenges facing clients in order to deliver a highly personalised service,” Currie adds.

According to him, the best advisers do more than manage money, they offer “guidance, empathy and real partnership through uncertainty and the pressure that comes with it.”

Rethinking Traditional Wealth Planning

At the heart of Nedbank Private Wealth’s philosophy is a subtle but powerful departure from traditional wealth management, a departure from wealth as an end in itself.

“Wealth planning, done right, is about managing investable assets in a smart way to enable individuals to achieve the life they want,” says Currie.

“Experts empower their clients to protect and grow their wealth while fostering confidence in their futures, providing them the freedom to follow their passions.”

Rather than endless accumulation, today’s most thoughtful wealth planning is about enabling life goals, whether that’s supporting a child’s education, giving to charity, or taking a once-in-a-lifetime trip to Antarctica.

“The most important thing isn’t accumulation of wealth for wealth’s sake,” Currie says. “You can only spend time once, so planning for the future is key.”

This approach reframes private banking as a service not just for financial growth, but for emotional stability, clarity of purpose, and ultimately, peace of mind.

From Balance Sheets to Life Balance

Wealth, it turns out, is far more emotionally complex than it appears. But with a more empathetic and holistic model, private banking can play a vital role in helping clients achieve not just financial security, but emotional wellbeing.

In a world that often celebrates the size of a portfolio over the quality of life it can support, Currie’s message is both timely and refreshing: “True wealth is measured not just in numbers, but in the ability to live a fulfilling, balanced life.”