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Wealth in South Florida<\/p>\n
\n Miami is changing, with waterfront luxury and billionaire property purchases. Here\u2019s the latest on the upper side of real estate.\n <\/p>\n
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Why should we care about what the super-wealthy think?<\/p>\n
Millionaires and billionaires make decisions that affect South Florida, not only in real estate but in education and the small-business world. What\u2019s on their minds affects whether they move with their family to the region or buy property purely as a vanity project.<\/p>\n
Patrick Dwyer and Gregory Pool, managing directors with NewEdge Wealth Aligned Miami, a wealth advisory firm in Brickell, know what they are thinking.<\/p>\n
The two talk to their super-wealthy and more modestly wealthy clients nearly every day, helping them manage their money, learning what\u2019s on their minds and advising them of future trends.<\/p>\n
In the first video of this series<\/a>, 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\u2019s driving their behavior.<\/p>\n It turns out the wealthy aren\u2019t 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\u2019t likely to be what they\u2019re used to.<\/p>\n \u201cA 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,\u201d Dwyer says.<\/p>\n Dwyer and Pool\u2019s 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.<\/p>\n