High-net-worth individuals (HNWIs) are often targets of various threats, both digital and physical, due to their significant wealth. As a result, HNWIs need to take steps to protect themselves and their assets.

The UK’s His Majesty Revenue and Customs (HMRC) changed its definition of a HNWI in 2016. Previously, an HNWI was defined as someone with assets valued at £20 million or more. The new definition lowered the threshold to £10 million.

Not all HNWIs are aware of the value of their assets or the importance of protecting them with specialists. This is because they accumulate their wealth or assets over a long period, making it easy to underestimate the value of their property and possessions.

With this wealth, it is crucial to invest in protection services, not just for yourself but also for your loved ones. 

The best security protection services can anticipate and address security threats before they happen. They conduct assessments before travel and on the places that will be visited. In addition, they can maintain a strong intelligence and investigation capability to identify and address more direct challenges.

A personal security agency will typically start by understanding the client’s needs and any potential threats before the service. Then, they assess the client’s situation and recommend the best protection solutions. Apart from protection and surveillance, the agency also offers 24/7 operational support.

Investing in close protection operatives

Close protection operatives (CPOs) are often the most effective solution for HNWI protection. Close protection is the practice of providing physical security to a person or group of people who are at risk of harm or attack. UK citizens usually refer to close protection operatives as bodyguards.

Close protection is typically done by a bodyguard or team of bodyguards trained to assess and mitigate threats and provide physical security in the event of an attack. Close protection aims to prevent injury, loss, damage, or death to the client.

It is no secret that many security operatives have decades of experience in the Military, Police Service, Private Security, and other challenging security environments. Their expertise is essential in ensuring the security of their clients.

Some protection agencies also offer services to support clients with complex international lifestyles. These clients usually travel often, so they need protection across multiple jurisdictions.

Many top CPOs, such as Marengo, have protected various influential figures, including celebrities, business leaders, diplomats, VIPs, and other high-profile individuals.

Protective surveillance as an alternative

HNWIs who are not comfortable with close protection can opt for protective surveillance. Protective surveillance is a less obtrusive form of close protection that uses surveillance techniques to provide a discreet personal protection service.

One of the benefits of this service is that the team will do their work by observing the situation and controlling risk from a distance so as not to tip off a potentially dangerous person. As a result, you can maintain a sense of normalcy in your life, allowing you to continue with your regular daily tasks.

Any HWNI who feels they need extra security can invest in protective surveillance. It is beneficial for high-profile individuals, people who are being stalked, or those who want to ensure they are not being followed. Usually, this service is offered as a part of a larger close protection plan, but sometimes it is available as a stand-alone service.

Digital protection

Apart from physical protection, HNWIs need to invest in robust cyber security. Cybercriminals see HNWIs as high-value targets, as they have significant assets that can be stolen or extorted.

Cyber attackers often use several techniques to target HNWIs and their families, including ransomware, extortion, and identity theft.

With these threats, HNWIs should implement tailored measures to protect themselves from cyber threats. Personalized cybersecurity assessments, continuous threat monitoring, secure communication methods, and cybersecurity insurance can make a big difference in keeping themselves digitally safe.