Business sustainability

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The ability of an advisory firm, family operating company, or other business to maintain itself profitably over long periods of time in a competitive market.

In many business contexts, “sustainability” refers to those practices and values of a business that respect environmental and social factors, helping to preserve and protect the planet and humanity. In UHNW wealth advising, business sustainability is separately defined as a focus on maintaining profitability, business longevity, and competitive advantage when providing services. 

A relevant concern is being able to offer the complexity of integration in family office services without significantly undercutting profit margins or other financial metrics. Maintaining sustainability while improving or managing service delivery is part of the strategic decision-making an advisory business must consider.

See Also: Integration

Jaffe, Dennis. T. Borrowed From Your Grandchildren: The Evolution of 100-Year Family Enterprises. Wiley: 2020.

PwC. “Sustaining Wealth Through a Well Defined Shared Family Capital Strategy – How Generations Ahead Can Benefit from Holistic Planning Today.” 2023. https://uhnwinstitutelibrary.org/document/sustaining-wealth-through-a-well-defined-shared-family-capital-strategy/

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Welcome to the Wealthesaurus*

A Glossary of Family Wealth Advising Terms

*pronounced: well-thuh-SAWR’-uhs

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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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
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