Financial and Investment Management domain

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The sum total of needs, services, and activities that form the financial wealth of the family, encompassing all financial, real estate, collectible, equity, investment, business ownership, and lifestyle assets, plus the tax planning and management related to managing those assets.

The Financial and Investment Management domain – abbreviated as the FAIM domain – covers the many traditional areas of wealth management that organize, support, monitor, adjust, and distribute wealth for an UHNW family.  These include initial discovery and goal-setting to establish business and investment parameters and strategies, establishment of the complex structures and processes integrating the family’s multiple assets and needs, and ongoing monitoring and adjustment over time at both a strategic and tactical level. 

The FAIM domain contains those aspects of tax planning, efficiency, and management that must be conducted within the regulatory and jurisdictional frameworks of the family and its assets.

Integration of a family’s enterprise assets are part of the FAIM domain, including the assets and financial fiduciary responsibilities for all family office, trust, operating company, philanthropic, and lifestyle assets owned or managed on behalf of family members. 

The Financial and Investment Management domain is a component of the Wealth Creation and Stewardship 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/

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Welcome to the Wealthesaurus*

A Glossary of Family Wealth Advising Terms

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

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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
  • Foster an equitable, collaborative and safe learning environment within the wealth management industry