Family office resources generally extend beyond managing investments and capital allocation. Financial advisors of high-net-worth clients should have a high level of awareness of the specific needs of individuals and families in this segment—from financial to lifestyle choices. One area where we have seen an increase in requests for recommendations is private security services, and advisors have an opportunity to educate clients and their children on safety precautions for day-to-day life as well as travel away from home.
Tracking the trend: What has led to the rise in interest in private security among HNW clients in recent months?
Given recent global events, we have noticed that our clients are increasingly cautious of their safety, wellbeing, and property than they have been in years past. In turn, there are an increasing number of requests for private security solutions from HNW clients. Personal security can include solutions for the client themselves in day-to-day life, or for specific instances like their children studying abroad or traveling extensively.
Starting the conversation: How advisors can approach the subject…
