No matter what level of wealth is typical of the clients you work with, they need your help in protecting their children. A recent incident involving Michael Dell’s son shows that even the $2.7 million Dell spends on security for his family cannot prevent a teenager from exposing themselves—and the family—to high personal risk through social media.
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The personal security of your clients’ family members may not seem directly related to your service as an investment advisor. But risk means different things in today’s world than it did even a decade ago. This is an area where you can not only solidify your relationships with your clients; you can also help them protect what’s most important to them.
In Dell’s case, his daughter Alexa posted a picture of his son Zachary noshing Ritz-Carlton style on the family jet on their way to Fiji on her Twitter account. Not only that, but she went on to provide details of their entire trip through various media, including where they were located at any given time through the GPS function on her phone.
Is this an incident too far removed from something your own clients could experience? Hardly. And it’s not just kidnapping that should be on your well-heeled clients’ lists of concern.
People look for ways to exploit kids online, pretending to be their age, becoming an online friend, encouraging them to exchange unseemly photos and even to meet them at a secret location. Parents at all levels of wealth should be concerned about what their kids are sharing online.
Creating an educational program to inform both parents and their children about the dangers to which they might innocently expose themselves
is a meaningful and important way for you to help clients protect their wealth and manage risks from which they might never recover.