The approach recognizes the reality that comprehensive wealth management for UHNW families extends far beyond the realm of investments, taxation, and legal matters. It highlights subjects ranging from family governance to leadership development, risk management, the advisor-client relationship, social impact, and philanthropy.

“Many families and even advisors are uncertain about what comprehensive UHNW services should entail,” says James Grubman, PhD, chair of The Institute’s content and curriculum board. “We undertook the task of building a modern roadmap to the UHNW landscape. Families can now understand what they need and what questions to ask of their advisors. This has never been available before.”

Grubman notes that release of The Institute’s framework for serving the ultra-wealthy is particularly timely in light of the global COVID-19 pandemic. “The coronavirus has turned lives upside-down, making many families realize that they are underprepared to face issues across all 10 Domains of Family Wealth, including risk management, family decision-making, and health and well-being,” says Grubman.

The Institute will use the 10 Domain model to organize the content it generates and the educational programs it is developing.  “We are pleased and gratified at the number of industry thought leaders who have been attracted to our team in the year since The Institute was established,” says Steve Prostano, one of the group’s founders. 

“Their eagerness to create a new channel for exceptional thought leadership and content shows they recognize the need and demand for this type of knowledge resource,” says Prostano. “It also demonstrates their passion for families, family offices, advisors, and the UHNW community as a whole.”

In addition to producing The 10 Domains of Family Wealth and related thought leadership, The Institute is generating a range of content and research on key topics aimed at educating families and supporting their decision-making. 

Separately, The Institute announced a broad membership offering aimed to appeal to its different groups of stakeholders, including individuals, families, family offices, advisors, associations, and industry executives. In addition to the thought leadership, content, and educational programs, other benefits include access to thought leaders, exclusive events, and peer networking.

“Few of us have the opportunity to collaborate with our peers as frequently as we would like,” says Bill Woodson, another Institute founder. “Sharing and receiving insights from esteemed colleagues – who have spent their careers working with UHNW families and family offices – is one of the hallmark advantages of membership in The Institute.”

About The UNHW Institute

The Institute was founded in March 2019 in response to the overarching confusion, limited transparency and lack of unbiased education available in the marketplace.  The mission of The Institute is to:

• Offer an intellectual understanding and organization of the Family Wealth field. 

• Educate UHNW families and their family offices as they navigate the wealth management industry.

• Provide insights and resources to advisors and wealth management firms as they strive to better serve UHNW and family office clients.

• Promote best practices, professional development and sustainable, positive change in the wealth management industry.

See The Institute’s Website for Further Information

Detailed information about The 10 Domains of Family Wealth is available at www.uhnwinstitute.org/think-tank

Media Contact

Liz Fritz

For The UHNW Institute

Phone: 650.400.4323

Email: Liz@F2Strategy.com

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