The last article I wrote on working with high-wealth individuals drew a lot of attention. A few individuals wrote this population was their specialty and some individuals called me to see what I knew. It was as if they believe there is a secret sauce just for high-wealth, high-profile individuals and families. A few even radically suggested this was just their area of expertise and to boldly stay away. However, I believe it’s best to have more highly-trained individuals working with this population due to the increasing need. Approximately 142 people die every day in the United States as a result of the opioid epidemic. Approximately one in eight people meet the criteria for a substance use disorder and 48% of the United States young adult and adult population reports they smoke marijuana. I’ve learned this is an important demographic to study and care for throughout my work with high-wealth families and executive teams.
I consulted with my good friend and colleague, Dr. James Flowers, CEO of Driftwood Recovery. Together, we have 45+ years of experience working with high-wealth clients, their families, their estate attorneys or consigliere, business managers and executive protection teams.
Here are 12 salient points we believe to be evidenced-based and that make good sense when working with high-net worth individuals and their entourages and/or families: