Toff often implies stereotyped traits of the upper class, not just wealth, such as being out of touch with ordinary people. That toff has never even set foot in a supermarket!
Pro Tip 2/3
Mildly Derogatory
'Toff' can be used humorously or slightly insulting to suggest someone is overly posh or snobbish. He's acting like a toff, scoffing at our department store clothes.
Pro Tip 3/3
Colloquial UK
'Toff' is common in British English and might not be understood or used in the same way elsewhere. In the UK, the party was said to be full of toffs.