Wealthyist Episode 3: Clothier Tim Cornell
Wealthiest Podcast - Clothier Tim Cornell
In this episode of the Wealthiest Podcast, host Brandon Lehman, Director of Annex Private Client at Annex Wealth Management, discusses the evolution of professional attire in the context of wealth and status, with insights from Tim Cornell, a professional clothier from Tom James.
Key Points:
- Post-Pandemic Fashion Shift: The conversation begins with the observation that since the pandemic, there has been a noticeable shift in professional attire. People have adopted more casual and comfortable clothing, even in professional settings, which Lehman and Cornell refer to as "dressing down."
- Complexity in Professional Wardrobe:
- Dress for Your Day: The concept of dressing according to the day's activities has gained traction. However, what this means has changed; fewer ties are worn, and suits have given way to more casual or semi-formal attire like sport coats without ties.
- Diverse Wardrobe Needs: Today's professionals need a more varied wardrobe. Instead of just suits, there's a need for different types of clothing suitable for various occasions, from business meetings to casual Fridays, reflecting a more complex approach to personal style.
- Wealth and Fashion Choices:
- Millionaire Next Door: The discussion touches on the idea from the book "The Millionaire Next Door," where wealth isn't shown through expensive clothing. Many affluent individuals, especially in the Midwest, do not necessarily invest heavily in high-end fashion, focusing instead on other areas of wealth accumulation.
- Function of Clothing for the Wealthy: Clothing serves not just as attire but as a reflection of one's personal and professional identity. For leaders or those with significant influence in their communities or organizations, how they dress can symbolize their status and commitment to their roles.
- Trends and Influences:
- Increase in Suit Sales: Despite the casual trend, there's been an increase in suit sales, suggesting that suits still hold value in certain professional contexts.
- Sustainability and Materials: There's a growing awareness of sustainability in clothing, but the primary discussion revolves around the functionality and appropriateness of attire rather than the materials themselves.
- Influencer Impact: While influencers might affect fashion trends among younger demographics or the general public, the episode suggests that the truly wealthy are more likely to be influencers themselves rather than being influenced by popular media.
- The Role of Personal Styling:
- Personalized Wardrobe: Tim Cornell emphasizes his role in helping individuals build a wardrobe that reflects their personality, lifestyle, and professional needs. This personalized approach is particularly valuable for those who are not just buying clothes but building an image.
- Conclusion:
- The episode concludes with the idea that while fashion trends evolve, the wealthy often seek personalized, high-quality service to ensure their attire aligns with their status, responsibilities, and personal style. Lehman and Cornell highlight the importance of a tailored approach to one's wardrobe, much like tailored financial planning, which resonates with the podcast's theme of wealth management.
The podcast serves as a blend of fashion advice with insights into how attire can reflect and affect one's professional and personal life, especially within the context of wealth and leadership.
