Shifting Priorities Among Millionaires: Therapy and Personal Training Rise Over Traditional Wealth Advice
Shifting Priorities Among Millionaires
Recent trends reveal that millionaires increasingly prioritize personal trainers and therapists over traditional wealth advisors. This shift highlights a growing recognition of the importance of well-being and emotional health alongside financial success. While wealth advisors have historically managed assets, many wealthy individuals now seek services that enhance their overall quality of life rather than just their portfolios.
The Rise of Soft Services
Soft services such as therapy and personal training deliver personalized support that impacts daily life and mental resilience. Younger millionaires, in particular, invest heavily in therapy, with nearly half under 40 regularly seeing therapists. This focus on mental and physical health reflects a broader cultural shift valuing emotional well-being and family life, which many find more fulfilling than financial advice alone.
Implications for Wealth Management
This evolving preference challenges traditional wealth management to adapt by incorporating holistic approaches. The wealthy increasingly seek advisors who understand their lifestyle goals and emotional needs, blending financial planning with personal development to create a more comprehensive support system.
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