Family Dynamics domain

« Back to Glossary Index

The personal and family strengths, challenges, adjustment processes, communication patterns, and conflict issues related to the family, its relationships, and wealth.

The Family Dynamics domain encompasses all the individual and collective adjustment and relationship issues that factor into wealth and identity. 

At the individual level, the domain includes how wealth-holders react and adjust to being wealthy, both in terms of strengths and challenges. This includes handling emotional issues within the family as well as in coping with social views, relationships, biases, and stereotypes about the wealthy. It extends to how couples handle money and wealth issues in their partner relationship, how different approaches to wealth impact committed relationships and parenting, and how adjustment issues occur over the lifespan. 

At the family level, the domain covers how family members support or conflict with each other, how disputes arise and are handled, and the role of personal, social, spiritual, biological, gender, sexual orientation, and other factors in family cohesion. Strengths and challenges in communication and negotiation skills may impact the dynamics of family relationships. In addition, personal and family views about legacy, values, faith, and political orientation may impact family dynamics.

The Family Dynamics domain is a component of the Cultivation of Family Capital cluster in the Ten Domains of Family Wealth model of The UHNW Institute.

See Also: The Ten Domains of Family Wealth

The UHNW Institute. Our Thinking, December 15, 2022.  https://www.uhnwinstitute.org/our-thinking/

Want to Contribute to the Wealthesaurus?

  • Check that the term (or a synonym) is not in the Wealthesaurus already
  • Email a description of your suggested term, a one- or two-sentence draft of its proposed definition, and a brief explanation of its usage or background (300 word maximum) to librarian@uhnwinstitute.org
  • The term will be reviewed for inclusion by the UHNW Institute Resource Librarian and staff of the Institute. You will be notified once a decision has been made.

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://glossary.uhnwinstitute.org/

Remember that the Wealthesaurus is only currently available to Institute members, so the public will not be able to look at the source citation. Eventually if the Wealthesaurus is publicly available on the web, others may be able to use the glossary.

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.

How to Use the Wealthesaurus

  • Browse terms by first letter in the alphabet menu or by scrolling down the list. You may also enter a term in the search box to see if it is present.
  • Click on a term to see its definition along with an explanation of its usage and an audio sample of its pronunciation.
  • Click on any highlighted links you find to get more information or see related terms.
  • Return to the main index page by clicking the Wealthesaurus logo or “Back to Glossary Index.” Click “all” in the alphabet to get back to the full menu.
For more information on general topics related to finance, law, or investments, see also:
 

info@uhnwinstitute.org

929.406.0805

© The UHNW Institute 2024

Twitter Linkedin
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