Three Ways to Identify High Net Worth Travel Clients

In a recent Wall Street Journal article, writer Holly Peterson stated that the ultra-wealthy these days eschew making their financial status immediately obvious. As she wrote, “When this affluent army enters our world, they camouflage themselves with earthly-colored cashmere and luxurious suede.”

Because many affluents choose not to flaunt their wealth, it can be difficult for travel advisors to know if a new client (or even current clients) ranks in the top echelon.

But there are ways for advisors to find out, not the least of which is asking.

“I ask what their favorite experiences were previously and why?” said Jaclyn India, founder and CEO of Sienna Charles, a concierge-style travel agency that only works with clients with $100 million+ worth. “I ask how much they spend a night on a hotel.”

She doesn’t stop with asking about their travels.

“What are their favorite restaurants in their home city? When somebody says to me Bilboquet or Polo Bar, then I know they’re looking for a buzzy atmosphere and they’re looking to be with other like-minded wealthy people,” she said.

Other questions that can help determine a client’s wealth demographic are those related to charities, wine, and education.

“I found that wealthy people travel to pursue passions. So, ask them, what are their passions? What are the things they want to learn more about? Any wealthy person is obsessed with learning.”

Do your research

Advisors who don’t feel comfortable asking what prospective clients may have paid in the past or are looking to pay now do have other options.

“That’s a major miss on the travel advisor’s part if they’re not researching their clients,” India said.

India told TMR her team uses every resource at their disposal to vet potential clients. While she recognizes most agencies aren’t only looking for those worth $100 million or more, she doesn’t think that means advisors should skip the vetting process.

“I don’t think travel advisors should be passive and wait for somebody to tell them or give them a signal. I think you have to do research and understand who your client is,” she said.

Most wealthy people leave behind a footprint, whether it’s attending charitable events or sending their kids to private schools and colleges. If you have their address, you can look it up and see their home.

You can even do this with your current clients. All this information is clues that can help you determine whether you already have clients you should be trying to upsell. 

Listen for signals

A less reliable way to determine how wealthy your clients are is to listen for clues in your conversations with them.

Listen for casual mentions of custom-made or tailor-made clothing, climate-controlled art storage or wine cellars, whether they’ve flow in a private jet before, have a high-end watch collection, and other facts that signal a client is wealthier than you might have assumed.