Wealthy US investors eye advisor guidance as 2026 midterms approach
Despite the upbeat tone, the survey makes clear that wealthy investors are not simply sitting still.
Nine in 10 respondents whose political views influence their investment decisions said they are considering portfolio changes ahead of the midterms, with the most common planned actions including sector reallocation (49%), adding portfolio hedges (44%), increasing cash holdings (43%) and adding precious metals (38%).
A smaller but meaningful segment (44%) said they were taking the opposite approach and planning to increase their exposure to equities.
Issues beyond the economy are gaining ground
The economy remains the dominant election concern, cited as highly important by 88% of investors in the UBS October 2026 survey, up from 84% in 2024. But several other issues have moved sharply higher on investors’ priority lists compared with two years ago.
Healthcare jumped from 66% to 81% as a top-ranked concern, while national defense rose from 61% to 72%. Trade policies and tariffs, cited as highly important by 71% of respondents in the 2026 survey, did not appear as a comparable data point in the 2024 results, reflecting how much the policy conversation has shifted since the last presidential cycle. Education also climbed considerably, from 49% in 2024 to 69% in the October 2026 survey.
