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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 end of real estate.\n <\/p>\n
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Five years from now, South Florida real estate will be cheaper than it is today, transportation costs will plunge and fewer cars will clog the roads.<\/p>\n
A crazy prediction that belies the identity of this metropolis? Perhaps. But it\u2019s what Miami-based wealth advisor Patrick Dwyer is telling his billionaire and multi-millionaire clients.<\/p>\n
\u201cThe next 20 years is probably going to be the greatest chapter in the history of this city,\u201d Dwyer says. \u201cWe think the cost of many, many things is going to fall tremendously.\u201d<\/p>\n
Dwyer and Gregory Pool are managing directors with NewEdge Wealth Aligned Miami, a wealth advisory firm in Brickell.<\/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
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
Since late last year, a new cluster of uber-wealthy people have flocked to the Miami area.<\/a> They include Google co-founders Larry Page and Sergey Brin and former Starbucks CEO Howard Schultz.<\/p>\n This trend built on one started during the pandemic, driven largely by the tech sector.<\/p>\n In the first video of this series, Dwyer and Pool shared why their clients like South Florida<\/a>. In the second, they discussed the wealthy\u2019s fears over economic disruption<\/a> and how that\u2019s driving their decisions.<\/p>\n