Security Regnant Concern For The Rich

High-net-worth individuals urged to keep a "low profile."

By Christopher Weems Associate Editor

When two hijacked passenger jets were crashed into the two main towers of the World Trade Center last month, the attack was largely seen to be partly an attack on American wealth.

In the aftermath of the most devastating terrorist attack on U.S. soil, both government entities and private individuals are re-assessing security. For wealthy individuals, the need for heightened vigilance may be of even greater pith.

"Because they attract media attention, high-net-worth people will definitely be right there at the top of the list [of potential targets] for terror]," said David Little, an internationally renown security expert who specializes in security of wealthy individuals.

"Its been corporate America that has been hit first, but obviously security will be tightened at that level, and the government level and the terrorists may well look elsewhere for their targets.

"They’ll go for the targets that they perceive as being least well protected and about which they can get the most information.," he continued in an exclusive interview with Trusts & Estates from the U.K. offices of his firm, Sheldon Little Associates.

Wealthy people should maintain a low profile. Little cites the obvious "impeccable" planning and research done by the purveyors of the September attacks and warns that there is usually more information available about high-net-worth individuals than the general populace.

However, he adds that there are steps that wealthy individuals can take to mitigate risks to them.

"They should have a security program … and the objectives of that program should tie in with their lifestyle. It’s perfectly feasible to design a security program to accommodate lifestyle to some extent. [However,] there may be some restrictions.

Those restrictions include possibly curtailing travel, especially internationally. Also, individuals are advised to make others aware of their itineraries and to be in regular communication with others.

"[The September 11 attacks] have happened. How people evaluate [their security] will continue on a daily basis."