The wealth management industry is experiencing significant growth attributed to a rise in affluent households with complex financial needs. The Ultra High Net Worth Institute released the "Wealthesaurus," a glossary of over 80 terms commonly used in this sector. These definitions encourage greater understanding among clients. A McKinsey survey indicates that there is a marked preference among affluent investors for holistic advice, with a 60% increase in demand for comprehensive wealth management solutions from 2018 to 2023. A quiz is available to test knowledge on these financial terms.
The Ultra High Net Worth Institute recently published its "Wealthesaurus," a detailed glossary of more than 80 terms common in the wealth management world.
The glossary comes as demand for wealth management booms, thanks to the growing number of rich households whose financial needs are becoming more complex.
A McKinsey survey of affluent investors found that people increasingly want holistic advice across their many wealth management needs - the percentage of respondents saying they prefer holistic advice jumped 60% from 2018 to 2023.
Quiz yourself on how well you know the language used by the people who manage your money.
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