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What’s Your High-Net-Worth Personality?

What’s Your High-Net-Worth Personality?

April 16, 2019

Here’s why you need to know 

As a successful person with big goals, you require truly valuable financial advice that maximizes your ability to pursue your most important personal and professional financial objectives.

That means you need to work with professionals who connect with you. Who relate to you. Who understand you well enough to really “get” what you want your money to accomplish and why.

To get advice that works, it’s important to understand your own high-net-worth personality so you can select and work with advisors who are an ideal match.

What is a high-net-worth personality, anyway?

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. Developed in the late 1990s, HNW psychology has been verified through the study of thousands of wealthy individuals. It’s also been adopted by elite, forward-thinking financial advisors and other professionals serving affluent individuals and families.

The results of this work in HNW psychology have helped researchers identify nine HNW personality types. You almost certainly fall into one of the nine categories (see the description of each personality the following page).

Why your high-net-worth personality matters

It’s important to partner with an advisor who either shares your particular HNW personality or knows how to work well with your type—and not just because it’s nice to work with someone who thinks along the same lines as you.

The fact is, working with an advisor who doesn’t understand or appreciate your values can cost you financially. If you’re a Mogul type seeking aggressive returns, for example, you’ll be disappointed by an advisor who favors conservative investments. Likewise, if you’re a Phobic and your advisor is constantly wanting to talk about the investment process and the gyrations of the markets, you’ll likely have an unsuccessful—and unenjoyable—investment experience.

The upshot: Your wealth needs to be positioned to support what you care about most in life. And you need to be able to trust the advice you’re getting, and the source of that advice. If your advisor doesn’t “play well in the sandbox” with someone like you, you’ll enjoy none of those benefits—which, in turn, could mean you won’t grow and preserve your wealth according to your wishes and beliefs.


Keep in mind: There’s nothing inherently good or bad about any of the personality types. Each one simply reflects
someone’s core beliefs and ideals about money and wealth.

This article was published by the BSW Inner Circle and is distributed with its permission. Copyright 2017 by AES Nation, LLC.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

All investing involves risk including loss of principal. No strategy assures success or protects against loss.

Securities and Advisory services offered through LPL Financial, a registered investment advisor. Member FINRA & SIPC.