Health and Well-Being domain

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Encompassing the intersection of physical, mental, and spiritual health, wellness, disability, and resilience related to the complexities of wealth and the family. 

The Health and Well-being domain comprises the many needs and activities of the family related to medical, psychological, and spiritual matters impacting individual and family functioning in the context of wealth and the family enterprise. Examples include the impact of dementia or disability in a family elder or leader, biological or learning factors (e.g., neurocognitive issues) affecting preparation for wealth roles or responsibilities, overseas illness necessitating emergency or concierge medical services, substance abuse by a family enterprise member, or sudden illness impacting a family transition or leadership plan. Professionals working in this domain must understand issues of wealth, confidentiality, and coordination of care management that account for unique factors such as trusts or family enterprise roles. 

The Health and Well-being 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/

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