The Wealthesaurustm

A Glossary of Family Wealth Advising Terms

The Wealthesaurus provides standardized definitions of common and specialized family wealth advising industry terms. By sharing this glossary, we hope to improve communication across the UHNW community.

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Independent ownership

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A firm whose current active and retired staff own sufficient equity to control all major decisions.

Independent ownership is important for a firm’s staff to control its own destiny and not be overly influenced by external investors. Although the ownership structure might include clients or other investors with minority interests or who have provided some types of debt financing for the firm, the firm’s staff remains in control of operating and capital structure decisions.

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Citing the Wealthesaurus

If you wish to cite the Wealthesaurus in Institute or external resources, use the following format:
The UHNW Institute. “Wealthesaurus: a Glossary of Family Wealth Advising Terms,” 2024. https://wealthesaurus.org/

For more information on general topics related to finance, law, or investments, see also:

Charles Schwab Investing Glossary

Cornell Law Legal Information Institute

Investopedia

IRS Data Book Glossary of Terms

IRS Glossary of Trust Terms

U.S. Securities and Exchange Commission Glossary

Mission:
  • Provide an intellectual framework, understanding and organization of family wealth management content
  • Educate advisors and family offices on how best to support evolving UHNW families
  • Provide thought leadership, insights and resources to advisors and family offices
  • Promote best practices, provide professional development and support sustainable, positive change within our industry
  • Foster an equitable, collaborative and safe learning environment within the wealth management industry