![]() I think consciously about my role and my presence.'” “Some avoid social media altogether while traveling since cybercriminals can use posts to discover when potential victims are out of town and less focused on cybersecurity.” Cash custodiansĪnother reason for not spending on flashy cars, clothes, and jewelry is because the individuals don’t see their fortune as theirs personally- they see themselves as custodians of it.Įliana Sydes is the head of financial life strategy at London-based investment portfolio site Y TREE, which has £7 billion worth of assets on the platform, and said many of her clients see their wealth as their “role.”ĭuring a video interview with Fortune, she said her clients are grateful for their fortunes and so “their role is not to run around saying to everybody: ‘Hey, I’m cleverer or luckier than you,’ it is very much: ‘I have a role in society. “In addition, we see the focus on security, particularly when clients are traveling. They are inclined to limit information such as location and itinerary to limit the risk of becoming a prime target for a hacker. “They avoid flaunting their wealth in consideration of others who don’t have a similar level of financial freedom,” she explained. ![]() High-net-worth individuals keep their wealth hidden for a range of reasons, the experts revealed, whether protecting their privacy and security or being mindful of their financial position when compared to others’. The idea is not a new one-Meta founder Mark Zuckerberg revealed years ago he wears the same plain shirt every day-but does offer new lessons for the public, finance experts have said. Likewise, a focus on Gwyneth Paltrow’s wardrobe during her ski trial earlier this year, and a renewed focus on the British royal family, have ballooned the concept. ![]() ![]() The clip played on the idea that the very rich have no need for handbags-they simply slip seamlessly from private jets to chauffeured cars, before a housekeeper opens their front door at the end of the day. The term “quiet luxury” is one of the loudest trends on the internet at the moment, encapsulating the idea that the ultrawealthy steer clear of flashy brands and logos-instead picking more understated premium products.Īmong the reasons for the trend bubbling to the fore is a scene from TV show Succession, in which the über-wealthy characters mocked the “ludicrously capacious handbag” carried by one of their dates. ![]()
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