Flash Report: Do You Know Your High-Net-Worth Personality?
One of the best ways to make smart decisions about your wealth is to work with professionals who are able to connect with you and relate to you. You want to surround yourself with experts who know you well enough to really “get” what you want your money to accomplish and why.
In fact, we’ve found over the years that a personal connection between advisors and their clients is as important to financial success as traits such as advisors’ competence and resources.
To get advice that works, it’s incumbent on you to understand your own high-net-worth personality so you can select and work with advisors who are an ideal match.
High-net-worth (HNW) psychology is all about understanding what the affluent want from the professionals they work with, as well as the “how” and “why” behind their attitudes and decisions about their money. Extensive research into HNW psychology has helped identify numerous HNW personality types. That said, most affluent investors fall into one of these five categories:
The Family Steward
The Independent
The Phobic
The Mogul
The Accumulator
Robert J. Pyle, CFP®, CFA, AEP® founded Diversified Asset Management, Inc., in 1996 to provide personalized, comprehensive wealth management services to successful individuals, families, single women, and business owners. His specialty is addressing the complex financial needs of self-employed professionals, corporate executives, and small-business owners. Our disclosure can be found here. The views, opinion, information, and content provided here are solely those of the respective authors, and may not represent the views or opinions of Diversified Asset Management, Inc. Diversified Asset Management, Inc. cannot guarantee the accuracy or currency of any such third party information or content, and does not undertake to verify or update such information or content. Any such information or other content should not be construed as investment, legal, accounting, or tax advice.