What do the wealthy worry about? Watch their advisors take us inside Miami fear

Business admin June 30, 2026 0 Comments

What do the wealthy worry about? Watch their advisors take us inside Miami fear

Why should we care about what the super-wealthy think?

Millionaires and billionaires make decisions that affect South Florida, not only in real estate but in education and the small-business world. What’s on their minds affects whether they move with their family to the region or buy property purely as a vanity project.

Patrick Dwyer and Gregory Pool, managing directors with NewEdge Wealth Aligned Miami, a wealth advisory firm in Brickell, know what they are thinking.

The two talk to their super-wealthy and more modestly wealthy clients nearly every day, helping them manage their money, learning what’s on their minds and advising them of future trends.

In the first video of this series, Dwyer and Pool shared with Miami Herald readers why their clients like South Florida. Now, in a new video, they discuss some of their fears of the economy and how that’s driving their behavior.

It turns out the wealthy aren’t immune to massive disruptions hitting the U.S. and global economies. Sending their kids to prestigious universities no longer guarantees a successful career track. Incomes aren’t likely to be what they’re used to.

“A lot of people who had been in the professional class and had never really experienced any type of adversity are going to experience a lot of adversity,” Dwyer says.

Dwyer and Pool’s clients include eight families each with net worth of more than $1 billion and tech founders who are millionaires and have private stock worth another hundreds of millions. The lowest salary one of their clients makes is $250,000 a year.

Since late last year, a new cluster of uber-wealthy people have flocked to the Miami area. They include Google co-founders Larry Page and Sergey Brin and Facebook founder Mark Zuckerberg.

This trend built on one started during the pandemic, driven largely by the tech sector. Younger people, investors and entrepreneurs moved to the Miami area from wealthier regions of the United States, mainly the Northeast and West Coast.

Yet even wealthy tech founders face the same series of disruptions ordinary people do. They have a much larger cushion to make adjustments, of course. But if the wealthy buy mostly large plots of land or large home, chances are they’re doing so for their families, too, say Dwyer and Pool.

Gregory Pool says he and his partner tell their clients that “they’re going to have to think about their wealth a little differently than they probably had been thinking, which was their wealth was primary for themselves and their retirement.”

He says whether providing financial help to their kids to start businesses or to buy a first home, “they may have to use their balance sheet to help their kids get off the ground.”

Watch the video at the top of this report to see what they’re telling their clients about how to navigate current economic disruptions.