The Los Angeles-based business says it exists to provide services to clients which are only available from off-market buyers and sellers. The offering is an example of how the concierge and related fields are evolving in a digital environment.

A marketplace for luxury services for ultra-high net worth clients has been launched, tapping into a field where the richest 300,000 people in the world spend $1.3 million each on their lifestyle.

The US-based platform, called Myria, says it seeks to plug the gap caused by the most sought-after opportunities not being available online. This is because off-market sellers have demands beyond money, including only showing offers to pre-vetted, qualified buyers, charity and impact considerations, buyers with personal brands that add value to the seller, and only working with buyers who are trustworthy, easy to work with and considerate.

“The vacation homes the wealthiest want to rent are unlisted. The doctors they want don’t practice at the local hospital. The concert and sport experiences they desire aren’t sold by ticket brokers. The restaurants they want to eat at have eight-month waitlists. The charitable opportunities that would inspire them aren’t easy enough to find,” Myria co-founder and chief executive, Rey Flemings, said.

The state of the luxury goods and services sector can be a bellwether for the health of the wider wealth management sector, highlighting the level of confidence in the economy and business. Concierge and related services are also an important area for private banks, family offices and other entities serving HNW and ultra-HNW clientele. Private banks, for example, have developed concierge offerings over the years, although there are some question marks over how effective these are in winning new clients. For example, a BNY Mellon Wealth Management private banking study in 2021 suggested that concierge services aren’t enough to lure wealthy clients over to a new banking provider. Rather HNWs are more concerned about preserving and protecting their wealth than using concierge offerings and lifestyle gifts, a study of 300 wealthy individuals with at least $5 million in total assets found. 

Flemings led the family office concierge services firm, The Blue, which served 48 families with a combined net worth exceeding $400 billion.

“For nearly 15 years, I’ve provided a small number of clients with access to off-market capabilities. But, this was always done on a one-off basis. Creating an online platform enables us to provide access to off-market opportunities at scale,” Flemings said in a statement today.

To ensure the quality of its network, Myria vets everyone seeking to join the platform. Myria requires continual ratings and reviews of every member and seller. “Bad actors” will be removed quickly, it said. Vetting requirements include: bank-level know-your-client and anti-money laundering checks, a detailed interview with Myria’s nominations team, net worth and financial capacity verification, and nomination by a Myria member.

“Money can buy many things, but not everything. Myria is a circle of trust enabling our sellers to offer things to our members which cannot be offered elsewhere,” Flemings said. 

The Myria marketplace focuses on areas such as experiences, travel and events, security and risk, impact investment and philanthropy, medical, health and wellness, major purchases and sales (aviation, marine, real estate); hiring and staffing, dating and matchmaking. The platform says it has clients from among Fortune 500 CEOs, heads of state, top-ranked athletes, Forbes-listed billionaires, and others in the high-wealth bracket.