High-Net-Worth Personality Self-Diagnostic Quiz

The  High-Net-Worth Personality Quiz

Determine your high-net-worth personality with this self-diagnostic quiz. Simply prioritize the statements in each group from most important to least important. Write down the first thought that pops into your mind. Do not stop to think about your answer or spend time second­ guessing yourself.

  1. Rank each of the following 1 through 4, with 4 being most important to you and 1 the least

                Funding college education  for  my children and grandchildren  (A)

                Achieving  my asset-accumulation goal (G)

                Having enough money to have the  vacation home I  want   (F)

                Getting enough money to retire early (C)

 

  1. Rank each of the following 1 through 4, with 4 being most important to you and 1 the least

                Having a fun time investing (H)

                Learning  about the most sophisticated  investing  methods (I)

                Having enough money to have the power I  want   (E)

                Being able to  maintain  my privacy (D)

 

  1. Rank each of the following 1 through 4, with 4 being most important to you and 1 the least

                Having someone I trust do my investments so I do no not have to be involved (B)

                Ensuring the security of my family through my investments (A)

                Minimizing the risk of identity theft with proper security measures (D)

                Having sufficient assets invested to  be independent   (C)

 

  1. Rank each of the following 1 through 4, with 4 being most important to you and 1 the least

                Being able to protect the confidentiality of my finances (D)

                Having the  assets to  buy the things I  want (F)

                Being able to focus on the exciting aspects of investing    (H)

                Having the  luxury  of not  educating  myself on technical  financial  minutiae (B)

 

  1. Rank each of the following 1 through 4, with 4 being  most important to you and 1 the least

                Having sufficient  assets to  feel powerful (E)

                Using the most modern investment  approaches  (I)

                 Using my investments to take care of my family (A)

                Concentrating  on increasing the amount of my assets   (G)

 

  1. Rank each of the following 1 through 4, with 4 being most important to you and 1 the least

                Having the asset base to live wherever I  want to   (C)

                Having enough assets so that others respect me   (F)

                Hiring a top money manager to oversee my account and forgetting all about it (B)

                Maintaining  complete  privacy  over my investment  affairs (G)

 

  1. Rank each of the following 1 through 4, with 4 being most important to you and 1 the least

                Finding new ways to keep investing a thrilling part of my life (H)

                Applying the most technical  investment  approaches (I)

                 Having the investment  base to  get people to  do what I  want (E)

                Using investment products to transfer assets to family  members    (A)

 

  1. Rank each of the following 1 through 4, with 4 being most important to you and 1 the least

                Being able to avoid getting involved in the details of investing (B)

                Focusing on increasing my assets (G)

                Having the  assets to  enjoy the finer things in life   (F)

                Ensuring my privacy  with the investment  managers I  choose  (D)

 

  1. Rank each of the following 1 through 4, with 4 being most important to you and 1 the least

                Having advanced planning and products in my investment portfolio (I)

                Being able to  use my investments  to influence the  way things are done  (E)

                Having the confidence that I can live independently (C)

                Staying very involved on a day-to-day basis (H)

 

Add up all your rankings for A’s, B’s, C’s, D’s and so on in the box below. Based on your answers to  these questions,  you will have a strong idea of your profile(s).

Total High-Net-Worth Personality
A Family Steward
B Phobic
C Independent
D Anonymous
E Mogul
F VIP
G Accumulator
H Gambler
I Innovator

If you score high on one profile and low on the others by comparison, you have one dominant profile. Or you may have two profiles that stand out, or you may even straddle three different profiles.

More than likely, however,  you have a primary, secondary  and sometimes  a tertiary  profile.  For example, you may have a score of 16 on A, 14 on E and 12 on F. This would indicate that your dominant  profile is that of Family Steward, followed  by Mogul and   VIP.

Family Stewards are the most prevalent of the high-net-worth personalities. They are motivated by the need to protect their families over the long term.

Phobics are people who – although they are wealthy – dislike thinking about money. They are often not especially capable of effectively managing the professionals they turn to for assistance.

Independents include people whose primary objective in accumulating wealth is to achieve financial independence and the accompanying security. Some want to retire from their financial obligations to play golf or go sailing. Others will continue to be involved but value the security of knowing they could leave at any time.

The Anonymous are typified by their deep-seated – and sometimes irrational – need for privacy and confidentiality in all of their financial as well as selected personal dealings. In their interior belief system, they fear that the disclosure of information will enable someone or some office to gain control over them and their affairs.

Moguls are motivated to accumulate more and more wealth in order to achieve personal power (and, by extension, influence, if not control). In short, they want to leverage the power conferred by wealth.

VIPs are motivated to accumulate assets and utilize their wealth, in part to achieve greater status and prestige. This personality type prizes the opinion of select others above all else.

Accumulators seek to accumulate wealth out of an overriding concern for personal financial well-being. Their focus is on the continual accumulation and protection of assets as a bulwark against an uncertain future.

Gamblers believe their skills and competence will protect them from all significant threats. They view financial affairs as a personal challenge, but one they are very capable of handling.

Innovators believe their analytical capabilities will sustain them and protect them from external threats. Because of their life-long reliance on their analytic capabilities, they are highly self-reliant and do not delegate any portion of tasks having to do with analysis.