In a survey of more than 400 UK millionaires, UBS Wealth Management found 68% of people felt they were overloaded with information and a further 72% said they often failed to block out the noise of short-term distractions.
This is despite the majority claiming long-term economic and financial risks were their biggest concerns when investing.
A significant 86% of those surveyed simply trusted their own instincts when it came to making important investment decisions, and three-quarters opted for financial advice.
Three-quarters (75%) still viewed cash as the safest asset class to protect money against risk, despite the downsides of inflation eating away at savings, and similar proportions liked investing property, art and wine.
More than a quarter were reviewing their current portfolios in the midst of uncertainty caused by the snap general election and Brexit negotiations.
However, UBS warned that some people’s biases could undermine the success of their investments.
