From managing complex investment portfolios to arranging luxury accommodations, Ultra-High Net Worth Individuals (UHNWIs) and wealthy families often manage these responsibilities for their professional obligations and personal interests. Fortunately, with the help of lifestyle management services, these individuals and families can easily streamline and balance their many roles and responsibilities. According to a study by Business Insider, those who use lifestyle management services had 45 per cent more free time to manage their finances. 

The growing demand for concierge and lifestyle management services

Globally, the lifestyle management services market is expanding along with the rise in UHNWIs. These businesses are filling a critical demand by offering luxury lifestyle management services like personalised concierge and asset management. Based on a 2023 report by Knight Frank, 69 per cent of UHNWIs prioritise preserving their wealth and legacy, highlighting the vital benefits of concierge services for essential support in meeting these objectives. 

Luxury asset management: Managing and preserving the luxury assets of high-net-worth families, ranging from private aircraft and yachts to high-value art collections, antiques and other valuable assets. This includes ensuring proper care, regulatory compliance and comprehensive insurance coverage to safeguard their value and legacy.  

Travel assistance: Providing exclusive travel arrangements and extensive logistics management, customised to cater to the client’s unique needs and preferences. This includes planning and organising personal or family vacations, business trips and travel tours featuring first-class flights, private jet and yacht charters.  

Security service: With their substantial wealth and high-profile status, UHNWIs often become prime targets for cybercrime, kidnapping and extortion. As a result, they must prioritise comprehensive security strategies to protect their families, assets and privacy. This means employing private security teams, adopting advanced cybersecurity systems and carefully curating their public image to minimise exposure to potential threats.  

Personal assistant and concierge services: Expertise spans from scheduling meetings and managing errands to securing last-minute reservations at premier restaurants or private jet charters. Providing access to personal shoppers and stylists for assistance with clothing, gifts and other luxury needs, as well as arranging tickets for concerts, theatre performances, sporting events or exclusive private entertainment experiences. 

Investment opportunities: Access to financial guidance provided by seasoned experts. Personalised investment opportunities are meticulously tailored to align with the client’s unique financial objectives to ensure successful wealth management and growth.  

Private banking and tax support: Coordinating with leading private banking institutions and providing expert insights into global tax planning strategies designed to enhance financial management and optimise financial outcomes.  

Takeaway

The growing number of UHNWIs and wealthy families with unique and personalised needs has driven the emergence of specialised services such as luxury concierge and lifestyle management. These offerings allow them to manage their financial assets effectively while enjoying their personal interests and pursuits.  

Bolder private wealth solutions

Working with a family wealth services provider like Bolder Group helps you focus on preserving your wealth and legacy. Whether managing luxury assets or exploring investment opportunities, our experts streamline administrative and operational responsibilities so you can spend more time with your personal interests while still achieving your financial goals.  

For more information about our family and private wealth solutions, please contact us today.  

Bolder Group does not provide financial, tax or legal advice and the information contained herein is meant for general information purposes only. We strongly recommend that before acting on any of the information contained herein, readers should consult with their professional advisers. The Bolder Group accepts no liability for any errors or omissions in the information, or the consequences resulting from any action taken by a reader based on the information provided herein.

Bolder Group refers to the global network of independent subsidiaries of Bolder Group Holding BV. Bolder Group Holding BV provides no client services. Such services are provided solely by the independent companies within the Bolder Group which are each legally distinct and separate entities and have no authority (actual, apparent, implied or otherwise) to obligate or bind Bolder Group Holding BV in any manner whatsoever. The operations of the Bolder Group are conducted independently and have no affiliation with third party financial, tax or legal advisory firms or corporations.