Prosperity Rises Even as Advisers, Clients Remain Uneasy
Two recently published surveys show consumers’ economic concerns persisting as financial professionals grow more pessimistic about their clients’ finances.
Americans are feeling more prosperous, according to Northwestern Mutual’s latest Personal Prosperity Index, even as concerns about the economy and financial security remain. The findings suggest that feeling prosperous is not just about money.
The prosperity index rose to 71 in the second half of 2026, up from 68 at mid–year. Overall, 77% of respondents surveyed said they felt prosperous and 34% said they felt more prosperous than they did six months before.
The findings are based on an online survey of 2,000 U.S. adults conducted by Harris Poll on behalf of Northwestern Mutual from August 25 through September 3.
Financial Security Lags
Although the overall index showed gains, respondents’ assessments varied across six broader dimensions of prosperity. Relationships received the highest score, at 82 out of a possible 100, followed by health at 78, time at 76 and career at 72. Financial security scored 66, while financial freedom was lowest, at 54.“Financial security” [measured]…respondents’ ability to meet short- and long-term needs, maintain savings and feel confident about their financial goals. “Financial freedom” reflected whether people could spend and invest without anxiety and whether debt or other obligations limited their choices.
For some respondents, the financial strain is more immediate. Thirty percent of those surveyed said they are at or below the level of basic financial survival: 23% said they have just enough money to cover necessities, with nothing left over, and 7% said they cannot afford necessities.
The survey also found a difference in prosperity scores based on respondents’ relationships with financial professionals. Those working with a financial adviser had an average score of 77, compared with 68 among those who did not. The difference was also evident among respondents with less than $1 million in investable assets. Those with a more comprehensive financial relationship—including an adviser, financial plan, insurance and investments—had a score of 79, an 11-point premium over those without an adviser.
Well-Being Beyond the Portfolio
Among respondents who said they felt more prosperous than they did six months prior, the most–cited reason was being happy with their lives and accepting circumstances, which was selected by 27%.More respondents also agreed with statements about their overall well-being than in the previous survey. The statements included feeling that their lives were very full, having tools and practices that helped them feel at peace and usually feeling happy and content.
“People are under real pressure, from rising costs to uncertainty about the world around them,” said Tim Gerend, chairman, president and CEO of Northwestern Mutual, in a statement. “Yet what this research shows is that prosperity isn’t just about what’s happening around us—it’s also about the actions we take in our own lives. We can’t control the economy, the markets or the headlines, but we can take steps to be better prepared for our financial future.”
Respondents’ positive assessments coexisted with reported concerns about broader conditions, as 61% said the national economy had worsened and 59% said the political climate had deteriorated. Fifty-eight percent cited the rising cost of necessities as a concern. Among workers, 30% said they were worried about losing their jobs in the next six months.
Generational Differences
Older respondents reported higher levels of prosperity than did members of younger generations. Baby Boomers and older had an average score of 76 out of 100, compared with 67 among Generation Z respondents. The nine-point gap was wider than the six-point difference reported in the previous survey.At the same time, younger respondents were more likely to report that they had become more prosperous over the past six months. Members of Gen Z led the generations at 52%, followed by Millennials at 44%, Gen X at 27% and Baby Boomers and older adults at 18%.
There were also differences in reported emotional well-being. Ninety-one percent of Baby Boomers and older adults said they usually feel happy and content, compared with 78% of Gen Z respondents. Among Gen Z, 29% reported that their emotional health had worsened.
Financial Professionals’ Outlook
A separate survey from the Certified Financial Planner Board of Standards Inc. found financial professionals growing more pessimistic about economic conditions and their clients’ financial outlook.In the Fall 2026 CFP Professionals Sentiment Indices, 38% of respondents described their clients’ financial outlook as positive, while 36% said it had worsened over the past year. The current-conditions index stood at 60 out of 100, down from 66 a year earlier.
Financial professionals were also less optimistic about the economy. Fifty-two percent expressed a positive outlook, down from 61% a year earlier. Looking ahead, 38% expected U.S. economic conditions to remain about the same over the next year, while 35% expected them to deteriorate and 27% anticipated improvement. The proportion expecting conditions to worsen was near a record high in the index’s two-year history.
Despite the more negative outlook, 64% of respondents said their client bases had grown over the past year, and 73% expected client growth over the next 12 months.
The Fall 2026 results reflect responses from 449 certified financial professionals who completed the survey between October 6 and 19. The CFP Board conducts the eight-question survey quarterly, sending it to a randomly selected group of 15,000 CFPs.