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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Cooperation

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The act or instance of working together on a task for a purpose or benefit.

Cooperation is the most basic of three levels of group functioning that include collaboration and integration. Cooperation may simply involve compliance with a request or a desire to be helpful with a particular task. It may or may not be sustained across other situations, and it may or may not involve working toward a common or shared goal. To act cooperatively is to simply be helpful and contribute to an activity with other individuals, professionals, or family members.

See Also: Collaboration and Integration

Gratton, Lynda, and Tamara J. Erickson. “Eight Ways to Build Collaborative Teams.” Harvard Business Review, 2007. hbr.org/2007/11/eight-ways-to-buildcollaborative-teams.

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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