Those who have accumulated great wealth throughout their lives enjoy many perks thanks to their hard labor. But one thing that they need to concern themselves with more than the average person is security. Having gained so much throughout their lives, it is only rational to also consider how much they have to lose. High net worth men and women often must take extra steps to keep themselves from harm and ensure their fortunes aren’t ransomed, extorted or straight up stolen.
Many high net worth individuals hire trained private security specialists to provide security both in their homes and at their offices.
Aside from having much more than the average person to steal, executives and many in positions of wealth and power make enemies on their way to the top. And once they are on top, it’s not always just their enemies that want to harm them. If the individual lives a high profile life, this brings the recognition of the general public (millions of people), including the deranged or mentally disturbed. Furthermore, if the individual takes controversial stances in public, or makes difficult and sometimes unpopular decisions, this may heighten their level of risk.
Actors, of course, offer the best anecdotal evidence of a crazy member of the public taking things too far. A man named David Hinckley, after seeing actress Jodie Foster on the big screen, actually followed her to a Yale University course and enrolled in it along with her! Hinckley also stalked President Jimmy Carter, and attempted an assassination of Ronald Reagan in 1981.
But this is just one example out of many. The wealthy, and especially the famous and powerful, are well aware of these kinds of risks that come along with their good fortune. The fact that many of them have accumulated their wealth through wise financial decisions and frugal spending can make it difficult for them to see this as a worthwhile expense.
It can be hard to convince someone of potential danger when they see the cost of protection as unnecessary. Because they are concerned about being victim of robbery, kidnapping, extortion or senseless violence, these individuals take small steps to avoid endangering themselves. They move to safer neighborhoods and take care to stay out of dangerous situations.
However, it’s not incidental, random acts of violence and theft that they need to be concerned about. It’s deliberate selection, and careful planning and execution by big-time criminals or major league deviants that endanger this population. To protect against that, it’s wisest to enlist the help of professionals.
High net worth individuals are good with their money, and they’ll recognize when they’re not getting the most bang for their buck. For this reason, those in the private security industry need to come to their potential clients with a plan.
Instead of just supplying defensive security, the best firms will create contingency plans based on scenarios that have actually happened. Much of the value of private security comes from ease of mind; if the client knows the firm is ready for anything, that makes the service worth the cost right there.
Obviously, not all clients are the same. Although all high net worth individuals face similar risks, much depends on the individuals specific situation. Therefore, the firm that customizes their plans to include tailored consultations (that include the use of the firms services, of course), will succeed the most.
Although individuals with a wealth of financial resources often worry about the safety and security of themselves and their loved ones, not all have yet decided to employ private security firms. One guarantee, however, is that they have thought about it. This means that if the right firm comes along with a solid plan, backed by research and statistics, the client can be convinced.
Wise security firms will not overly play to the fears of the wealthy. Although a realistic and practical security assessment is needed, there is no reason to fear monger. Those who are very successful financially will also be able to look at a problem in terms of profit and loss. If the potential losses and the odds of an incident outweigh the price of private security services, both parties win.
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