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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Economic diversity

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A relationship between two partners where one partner has significantly more financial wealth than the other.

In families of wealth, one family member may engage in a casual, committed, or marital relationship with another person who comes from a significantly different economic background. This situation is often portrayed as inherently stressful or fraught with difficult power or trust dynamics, particularly if the woman in the relationship is the wealthier partner.  Terms for this type of relationship have traditionally included fiscal unequals or cross-class relationships.   

A more modern and potentially less biased term is to refer to a couple as having economic diversity in their financial origins, background, or current status.  This has been compared to other common forms of relationship diversity such as racial, religious, ethnic, or even political diversity. Referring to a couple as having fiscal or economic diversity places their differences in context and conveys fewer implications about the degree of stress a couple may face or their long-term chances of success or failure. 

See Also: Fiscal Unequals

Edwards-Pitt, Coventry.  Engaged Healthy, Wealthy, & Wise – Lessons from Inheritors and Their Significant Others on How They Have Navigated Love and Family Wealth and Forged Their Own Joint Path. BP Books, 2023. uhnwinstitutelibrary.org/document/engaged-healthy-wealthy-wise-lessons-from-inheritors-and-their-significant-others-on-how-they-have-navigated-love-and-family-wealth-and-forged-their-own-joint-path/

Grubman, James. “Leave Fiscal Inequality Behind by Addressing Economic Diversity.” The Journal of Financial Planning, May 2019. uhnwinstitutelibrary.org/document/leave-fiscal-inequality-behind-by-addressing-economic-diversity/

Hughes, James E., Joanie Bronfman., and Jacqueline Merrill. “Reflections On Fiscal Unequals.”  The James E. Hughes Jr Foundation, accessed May 9, 2025. https://jehjf.org/reflections-on-fiscal-unequals/

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
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