Being a HNW Individual has its advantages, but also comes with risks. Having a high status does not eliminate outside threats. In fact, it can actually make you a larger target to criminals. It is crucial for these individuals to be aware of the risks that come with status and wealth. Let’s go over the 3 major risks pertaining to reputation, health, and burglary. 

Reputation 

As a HNW Individual, there is responsibility to uphold a positive reputation, whether that be your family legacy, your professional status, etc. You are under more surveillance than the average person, and most likely held to a higher standard than most. Your opinions, views, and actions may be scrutinized by media outlets. Even simple mistake or misunderstanding can be blown out of proportion, harming your reputation. To lower risk of reputation loss,  HNW individuals should be very careful about what they post, what they communicate and who they communicate to, and how they come across to the public. 

Health 

HNW is commonly accompanied by stressful lifestyles, high-risk activities, and busy day-to-day schedules. All of these can result in heightened cortisol levels, lack of sleep, mental health struggles, and little to no time to focus on self care. This can increase the risk of health complications. To prevent the risk of health complications from arising, HNW individuals should prioritize self-care, pay attention to changes in health, both mental and physical, set boundaries, and seek professional help when needed. 

Burglary

HNW individuals may be at higher risk for burglary for two reasons. The first reason being their wealth and valuable assets. Burglarizing a HNW household is more likely to score a criminal high-value items compared to a low income or middle class household. The second reason being media exposure and public attention.  HNW individuals are often in the public eye. Criminals can leverage information from insiders or or media outlets to target these individuals. To lower the risk of burglary, HNW individuals should always be aware of who they surround themselves with. A home security system or personal security guard are two great ways to protect yourself from burglary.

Risk Management 

These are just a few of the risks that are associated with being a HNW individual. One cannot eliminate risks, but you can lower them by practicing risk management.  Risk management is the process of identifying, evaluating, and managing risks. Having a proactive security plan for  your home, health, and cyber networks will provide protection from threats that are hard to avoid in today’s world.  

SAG Is Here to Help

If you are a HNW individual in search of customized security solutions, Strategic Advisory Group can help. Our team of experts, committed to confidentiality and excellence, will cater to your unique circumstances and mitigate risks. Call SAG at +1 (203) 489-5592 for more information.