Planning Luxury Travel – Financial Advisors Play an Important Role

August 26th, 2015

Exploring is part of human nature, an innate desire and ability we are all born with. Travel allows people to explore new places and experiences, which is why it’s such a popular pastime. However, gone are the days when luxury travel was limited to just staying in five star hotels, engaging in rejuvenating spa treatments and relishing Michelin-star cuisine!

Here’s what the travel and tourism industry looks like today:

Young travelers as well as older ones (with children in tow), yearn for unique experiences that offer adventure and excitement for the whole family, so their kids can develop a love of travel while they’re still young.

The travel and tourism industry has seen tremendous growth in the past few years, and has the potential to grow exponentially in years to come. It already outpaces other sectors, according to the U.S. Department of Commerce, with a growth rate of 7.2%.

Besides contributing to economic growth, it’s also creating job opportunities for millions of travel-lovers who intend to capitalize on their passion through luxury travel and entertainment planning services.

Financial advisors who deal with personal financial management for HNI families and individuals have also started planning vacations and getaways for them.

How Do Financial Advisors Contribute to Luxury Travel Plans?

As part of family office services, financial advisors are taking on more responsibility than ever before. In addition to providing services that involve managing their client’s personal finance needs, many family offices also take on concierge duties for households.

Today, family office advisors are equipped to take care of all their client’s luxury travel and vacation needs:

They understand that they can raise the stakes and convenience for their clients by offering more in terms of special project planning, such as venturing into luxury travel.

Since financial advisors share strong and dependable relationships with their clients, they are armed with the information they need to plan luxury travels for them.

By tapping into their inner traveler or outsourcing to specialists, they create unique, tailor-made travel plans that appeal to their clientele, in order to strengthen their relationship and build value.

Millions of luxury travelers are looking for vacations and trips where they can enjoy new experiences, and have the money to spend on them.

There has been a major growth in travelers aged 40-55 years, who prefer the convenience of using advisors to help plan their trips.

Young travelers (early 30s and 40s) planning adventurous trips with young children and even babies don’t want to give up their own travel freedom, but want their kids involved.

Travelers report less than 30% satisfaction when they book online, but almost 80% when they use the services of an advisor.

Besides other financial services that they offer, advisors may seek out and collaborate with reputable travel agencies to provide their clients with a well-planned itinerary or develop in-house structures. Either way, there are plenty of resources available, which can help them harness their client’s travel needs and establish a reputation as all-round service providers.

Luxury Travel Trends to Consider

1. River Cruises:

These are gaining more popularity than any other travel experience, with a plethora of unique options. From exploring tropical beaches in the Caribbean or a picturesque port-to-port experience through Europe, to exhilarating Mediterranean night life and exotic beaches in China, luxury river cruises are an unmatched experience.

Every cruise offers a different itinerary, exploration options, dining and cabin experiences, free time to soak in the surroundings, and more. Advisors help arrange the perfect vacation, by taking their client’s preferences into account and locating the best possible services and amenities for them.

Financial advisors for luxury travel planning can help you plan where to go (popular locations or undiscovered ones), what to do there and how to get the best deal too.

2. Disney Cruise:

The magical world of Disney is well known to any child, as well as adults who grew up with the characters, and leaves behind a sense of wonder that never goes away.
The Disney Cruise experience is like none other, and while setting sail for different destinations, each Disney Cruise is an extraordinary voyage for every member of the family:

Disney Magic, the first ever cruise, for a 3-night sailing experience to the Bahamas or 12-night Mediterranean excursion

Disney Wonder, sailing the Caribbean in winter and up the west coast to Alaska in summer

Disney Dream, which operates all year around, sailing from Florida to Disney’s Private Island at Castaway Cay and the Bahamas, for 3-5 nights

Disney Fantasy, which offers a whole week of both eastern and western Mediterranean sailing

Advisors plan closely with their clients to pick out the most entertaining Disney cruise experience and exclusive amenities that suit the entire family, or couples/singles.

3. African Safari:

There is nothing more enticing than an African wildlife safari, to really explore the natural habitat of wild animals, from mighty lions and elephants to glorious giraffes. There are endless species that make their home in magnificent Africa, and much more on offer in terms of its picturesque landscapes and vibrant culture.

Advisors keen on providing their clients with a true experience of what Africa has to offer normally plan ahead. They locate the best options and premium services for guided safari tours, photo ops during wildlife observations and the perfect stay, whether their clients would prefer a beautiful resort, a five star hotel or a unique tree house adventure.

4. Hiking:

Hikers enjoy a wide variety of options, with so much to explore within America and in international destinations like Europe and Asia too. From incredible nature reserves and national parks, to mountainous regions and trails through valleys and forests, hiking really is the best way to connect with nature!

Advisors can help you plan a hiking trip right from where to go, what to do and what to pack, all the way up to ensuring you get the best facilities and exclusive amenities that assure a rewarding experience.