Wealth Management

How to Network With High-Net-Worth Individuals

High net worth individuals are highly networked. These individuals have reached such heights due to many reasons, and one of them is resourceful and credible networking. They understand the significance of knowledge—knowledge about persons, businesses, and professionals—that can offer them access to channels otherwise not so easy to access. From starting a business to expanding the same, you need people. These people will only be of assistance if you have put in the effort to engage them.

Now, how about the task of networking with these high net worth individuals? Well, generally high-net-worth individuals are open to the idea of networking. To them, everyone is essential to the big scheme of the world. But, they have no place for those who waste their time and resources. So, you should be highly mindful of how you network with them.

I have a few suggestions to make in this regard. Keep in mind these 4 points on how to network with high-net-worth individuals.

  1. Show your intentions for active involvement
    A thumb rule for networking with high net worth individuals is to be active. Whichever platform you use, whether LinkedIn or Facebook, you must simply not disappear immediately after having sent an invite or engaged in a couple of conversations. You have to show your eagerness to know them and collaborate with them.

    One way of doing so is to engage in discussions. On LinkedIn, for example, you will often find such persons engaging in public discourse from time to time. Comment on their posts, involve yourself, highlight yourself, and connect with them. Attend conferences, seminars, and workshops periodically to be able to interact with them.

  2. High net worth individuals hate platitudes
    What you say is incredibly important. In the introduction itself, I mentioned how inseparable networking is for high net worth individuals. So, they must have met thousands of people in their lifetime to recognize who is doing what. If you turn out to be someone who has no agenda but is trying too hard to strike a conversation, you won’t get a second chance.

    Try to have an objective and then interact. Redundancy is not at all tolerated. If you have a topic in mind, make sure you know about it in great detail. In case you seek an opinion from them, try to not look like that you haven’t done your own research. Even if it is mindless chatter you want to do, be intelligent with the way you go about it. They are already busybodies, so try to keep that in mind and not waste their time.

  3. Always have something to offer
    When I use the word ‘offer’, I do not restrict the meaning to monetary offers. Yes, these high net worth individuals understand the value of money more than most, but that doesn’t mean that is the only thing that matters to them.

    They wouldn’t mind exchanging useful strategic ideas on the expansion of the business, better investment options, and whatnot, but you must offer them suggestions the way they should be. For these individuals, there is generally a dearth of time, so making them spare some time for you can be a challenging task. So, make sure that they are persuaded that the time spent with you will yield results that can be useful to them and their businesses in one way or another. So, make sure to do your homework before contacting them.

  4. Be consistent
    As I wrote before, these individuals meet many, many people all year long and thousands in their lifetimes. Don’t expect them to remember each and every one of them. They, however, do remember those who stand out from the crowd. If you want to stand out, you should know that one interaction may not suffice.

    You need to build upon the conversation, draw their attention, and create possibilities for future meet-ups. For that to happen, you should stay consistent. For instance, you interacted with them a year ago over a phone call and now decide to call them back after such a long time. Don’t expect them to readily acknowledge you. To build long-standing relationships, you must put in effort.

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Anna Papadopoulos
Anna Papadopoulos is a senior money, wealth, and asset management reporter at CEOWORLD magazine, covering consumer issues, investing and financial communities + author of the CEOWORLD magazine newsletter, writing about money with an enthusiasm unknown to mankind. You can follow CEOWORLD magazine on Twitter, Facebook, Instagram, or connect on LinkedIn for musings on money, wealth, asset management, millionaires, and billionaires. Email her at info@ceoworld.biz.