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Published by: Wealth-X
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The Pursuits of the Wealthy and Why They Matter

Published by: Wealth-X
Published on:
The Pursuits of the Wealthy and Why They Matter

Organizations that depend on prospecting for and engaging with the wealthy can benefit from understanding their interests, passions, and hobbies. Such insight can pave the way for a more personal connection, building important, lasting relationships with your affluent donors and customers.

WHY DO THE PURSUITS OF THE WEALTHY MATTER?

Not-for-profit organizations and educational institutions that rely on donations, financial services providers that manage their clients’ wealth holdings and luxury brands that offer exclusive high-end products and services all need to establish and strengthen relationships with the wealthy.

Within the context of outreach, knowing an individual’s genuine interests provides a means for organizations to approach them in a way that is emotionally relevant and unique.

Ultimately, needs and necessities play a far more minor role in the decision-making processes of the wealthy compared with those of the general population. Organizations often need to adopt different approaches to establish a link to the cause, product or service they are offering — and drawing on the wealthy’s interests and passions can help light that spark or strengthen the emotional connection.

Source: Wealth-X’s Interests, Passions and Hobbies of the Wealthy 2021

HOW TO SECURE AN EDGE WHEN ENGAGING THE WEALTHY

On the engagement side, understanding an individual’s interests gives organizations an opportunity to deepen relations with their clients. Among a number of other key aspects, knowing an individual’s passions will help an organization to understand them in a more contextual, human and holistic manner, which can benefit both parties through face-to-face interactions and other experiences aimed at establishing a connection and cultivating a closer relationship.

Access to wealth intelligence can provide you with unique insight on individual wealthy prospects. By doing this legwork, you will stand out amongst competitors vying for their support.

Source: Wealth-X’s Interests, Passions and Hobbies of the Wealthy 2021

This analysis on the pursuits of the wealthy was compiled using Wealth-X’s Database. Wealth-X examines the passions, hobbies, interests, education, philanthropic endeavors, family background, associates, career history, and financial profile of wealthy individuals. Wealth-X’s valuation model identifies all privately and publicly owned assets and uses the primary business address for the person’s location.

Wealth-X’s Wealth and Investable Assets Model provides private wealth information and estimates population size based on world economies and major cities. Specifically, it looks at the top 70 economies and 170 major cities ranked by nominal gross domestic product (GDP) in dollars.

To dig deeper into the interest, passions and hobbies of the wealthy download a complimentary copy of this Wealth-X report here. Some of the findings include:

  • Philanthropy and sports are the two favorite interests of high net worth individuals
  • Golf is the most popular sport
  • Public speaking is the third most popular pursuit of the wealthy
  • Philanthropy increases as wealth increases
  • The ultra-rich are involved in a broader range of hobbies and interests
  • Interests in technology, the outdoors, and education are equally popular among all wealth levels
  • The report also looks at how the pursuits of the wealthy change by region, level of wealth and gender.

The report also looks at how the pursuits of the wealthy change by region, level of wealth and gender.

HOW WEALTH INTELLIGENCE SOLUTIONS CAN SIMPLIFY THE SEARCH AND HELP WITH ENGAGING THE WEALTHY

Building relationships with high net worth individuals is crucial for charitable organizations and upscale businesses. Identifying their interests and making an authentic connection with these individuals is key to gaining their support.

Interested in finding prospects based on their personal interests, passions or hobbies? Wealth-X Advanced Search capabilities make it easy to refine your search for the right prospects based on hobbies, interests, and passions.

Wealth-X produces detailed reports with information from its database, the world’s most comprehensive collection of research on high net worth individuals. With the extensive Wealth-X database, clients can search specific areas of a dossier to find prospects based on some of the interests that are popular among the wealthy.

The Wealth-X database also offers information on the career history, associates, education and philanthropic pursuits of wealthy prospects. You can also look up very high net worth and ultra-high net worth individuals and reference reports on their interests.

New to Wealth-X and Wealth Intelligence Solutions?

Wealth-X is the world leader in information and insight into high net worth individuals. They partner with numerous brands in the higher education, financial services, nonprofit, and luxury industries. Their information helps organizations in their compliance, marketing, and sales decision-making.

Wealth-X provides exhaustive data analysis to help organizations uncover, understand, and engage their target audience. Since its founding in 2010, Wealth-X has worked with more than 500 clients around the world. Wealth-X is part of Euromoney People Intelligence which connects organizations to influential donors and customers.

Wealth-X offers a host of services including data, Salesforce application, integration, screening, analytics and diligence. Contact Wealth-X today to learn how it can help your organization assess and identify the interests of your wealthy prospects.