Latest news with #UHNW
Yahoo
28-05-2025
- Business
- Yahoo
UHNW Institute Sets First-Ever Industry Standards in Wealth Management with Launch of the Wealthesaurus, AIM Framework, and More
NEW YORK, May 28, 2025--(BUSINESS WIRE)--The Ultra High Net Worth Institute (UHNW Institute), an independent, nonprofit think tank advancing the practice of wealth management, is putting a stake in the ground: For the first time, well-defined standards and frameworks are bringing structure, clarity, and cohesion to how professionals serve ultra-high net worth (UHNW) individuals and families. With the rollout of a series of groundbreaking resources — including the Wealthesaurus, the AIM Framework and more — The UHNW Institute is delivering on its mission to empower UHNW families, educate advisors, and drive meaningful change across the industry. As an independent, objective organization, the Institute offers unbiased guidance and practical tools to elevate how professionals serve clients and how families make informed decisions across generations. The Institute's development and promotion of standards for managing family wealth will help families and firms identify service solutions that effectively align with each family's unique needs and goals. A First for the Industry: Standardizing the Language of Wealth Management Among the Institute's most significant milestones is the debut of its Wealthesaurus, the first-ever standardized glossary of UHNW wealth management terms. By offering clear, consistent definitions across disciplines — from tax and law to philanthropy and family governance —the Wealthesaurus lays the groundwork for stronger communication and alignment between professionals and clients. "This is about establishing the first industry-wide standards," said Steve Prostano, co-founder, chairman, and CEO of the UHNW Institute. "Without shared language and frameworks, even the most experienced teams struggle to deliver truly integrated wealth management. We're changing that—starting now." The AIM Framework: A New Standard for Delivering Advisory Services The Institute is also launching its AIM Framework — shorthand for the Assessment, Implementation, and Monitoring Framework — the first standardized model for delivering integrated wealth management. This framework provides comprehensive guidelines for how professionals across disciplines can deliver consistent, high-quality advisory services, whether the professionals are independent specialists or part of a multidisciplinary team. It outlines how to structure the advisory process from start to finish, offering a scalable, repeatable approach that elevates services, improves collaboration, and allows firms to grow more strategically. What's Next: A Pipeline of Industry-Changing Tools Building on this momentum, The UHNW Institute will continue rolling out additional groundbreaking tools and resources throughout the coming year. Each is designed to further standardize the industry, enhance transparency, and improve alignment between advisors and the families they serve. These innovations will reinforce the Institute's commitment to drive meaningful change and create a more structured, client-focused, and collaborative wealth management profession. Membership: Be Part of the Movement Professionals and firms can gain early access to these tools and help shape the future of the profession by becoming members of The UHNW Institute. Membership includes exclusive access to research, thought leadership, peer collaboration, an extensive resource library, and guidance on putting the Institute's frameworks into practice. "We're building something bigger than any one firm or discipline," said Prostano. "Our members are part of an industry-wide movement to define what excellence truly looks like in serving ultra-high net worth families." About the Ultra High Net Worth Institute The Ultra High Net Worth Institute is an independent, nonprofit think tank and learning exchange dedicated to advancing the practice of wealth management for ultra-high net worth individuals and families. By promoting objectivity, collaboration, and innovation, the Institute empowers families and professionals with the frameworks, resources, and research needed to make informed decisions and deliver exceptional service across generations. Learn more at View source version on Contacts Media Contact: Alexa Bartusiak ScullPublic Relations412.519.7265 AJB@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
28-05-2025
- Business
- Business Wire
UHNW Institute Sets First-Ever Industry Standards in Wealth Management with Launch of the Wealthesaurus, AIM Framework, and More
NEW YORK--(BUSINESS WIRE)--The Ultra High Net Worth Institute (UHNW Institute), an independent, nonprofit think tank advancing the practice of wealth management, is putting a stake in the ground: For the first time, well-defined standards and frameworks are bringing structure, clarity, and cohesion to how professionals serve ultra-high net worth (UHNW) individuals and families. 'Without shared language and frameworks, even the most experienced teams struggle to deliver truly integrated wealth management. We're changing that—starting now,' said Steve Prostano, co-founder, chairman and CEO of the UHNW Institute. With the rollout of a series of groundbreaking resources — including the Wealthesaurus, the AIM Framework and more — The UHNW Institute is delivering on its mission to empower UHNW families, educate advisors, and drive meaningful change across the industry. As an independent, objective organization, the Institute offers unbiased guidance and practical tools to elevate how professionals serve clients and how families make informed decisions across generations. The Institute's development and promotion of standards for managing family wealth will help families and firms identify service solutions that effectively align with each family's unique needs and goals. A First for the Industry: Standardizing the Language of Wealth Management Among the Institute's most significant milestones is the debut of its Wealthesaurus, the first-ever standardized glossary of UHNW wealth management terms. By offering clear, consistent definitions across disciplines — from tax and law to philanthropy and family governance —the Wealthesaurus lays the groundwork for stronger communication and alignment between professionals and clients. 'This is about establishing the first industry-wide standards,' said Steve Prostano, co-founder, chairman, and CEO of the UHNW Institute. 'Without shared language and frameworks, even the most experienced teams struggle to deliver truly integrated wealth management. We're changing that—starting now.' The AIM Framework: A New Standard for Delivering Advisory Services The Institute is also launching its AIM Framework — shorthand for the Assessment, Implementation, and Monitoring Framework — the first standardized model for delivering integrated wealth management. This framework provides comprehensive guidelines for how professionals across disciplines can deliver consistent, high-quality advisory services, whether the professionals are independent specialists or part of a multidisciplinary team. It outlines how to structure the advisory process from start to finish, offering a scalable, repeatable approach that elevates services, improves collaboration, and allows firms to grow more strategically. What's Next: A Pipeline of Industry-Changing Tools Building on this momentum, The UHNW Institute will continue rolling out additional groundbreaking tools and resources throughout the coming year. Each is designed to further standardize the industry, enhance transparency, and improve alignment between advisors and the families they serve. These innovations will reinforce the Institute's commitment to drive meaningful change and create a more structured, client-focused, and collaborative wealth management profession. Membership: Be Part of the Movement Professionals and firms can gain early access to these tools and help shape the future of the profession by becoming members of The UHNW Institute. Membership includes exclusive access to research, thought leadership, peer collaboration, an extensive resource library, and guidance on putting the Institute's frameworks into practice. 'We're building something bigger than any one firm or discipline,' said Prostano. 'Our members are part of an industry-wide movement to define what excellence truly looks like in serving ultra-high net worth families.' About the Ultra High Net Worth Institute The Ultra High Net Worth Institute is an independent, nonprofit think tank and learning exchange dedicated to advancing the practice of wealth management for ultra-high net worth individuals and families. By promoting objectivity, collaboration, and innovation, the Institute empowers families and professionals with the frameworks, resources, and research needed to make informed decisions and deliver exceptional service across generations. Learn more at
Business Wire
19-05-2025
- Business
- Business Wire
Summit Trail Advisors Strengthens Executive Leadership Team with Appointment of Jeff Ringdahl as President and Chief Operating Officer
NEW YORK--(BUSINESS WIRE)--Summit Trail Advisors ('Summit Trail'), a leading ultra-high-net-worth (UHNW)-focused independent registered investment advisor, today announced that Jeff Ringdahl has joined the firm as Partner, President and Chief Operating Officer in New York. Mr. Ringdahl joins Summit Trail after more than 14 years at Resolute Investment Managers, where he most recently served as President and CEO. At Summit Trail, he will focus on enhancing the firm's white-glove client experience and ensuring that its family office offerings continue to adapt and meet the evolving needs of UHNW clients. Mr. Ringdahl's appointment further bolsters the executive leadership team at Summit Trail, which has experienced a period of marked expansion over the past decade. Since its launch in 2015, the firm has grown to $23.6 billion in assets under management and $26.2 billion in assets under advisement, with more than 100 employees across 10 offices that service UHNW families and businesses. 'Jeff has a longstanding reputation as a leader and innovator within the investment management industry, and we are thrilled to welcome him to the Summit Trail team,' said Jack Petersen, Co-Founder and Managing Partner at Summit Trail. 'Our firm is committed to serving the complex needs of UHNW individuals and families who have outgrown traditional investment management and the addition of Jeff to our senior leadership team reinforces this commitment. We are looking forward to leveraging his extensive experience and expertise.' David Romhilt, Founding Partner and Chief Investment Officer at Summit Trail, added, 'The ultra-high-net-worth and registered investment advisor industry has become increasingly sophisticated and institutionalized over the past decade, and business leaders like Jeff will ensure that Summit Trail continues to operate as a top-tier and trusted partner for our clients for years to come. With extensive executive leadership experience and a proven track record of successfully guiding organizations through periods of strategic growth, we believe Jeff is the perfect fit to help take our firm into its next decade.' "Summit Trail has been ahead of the curve when it comes to serving the rapidly changing needs of ultra-high-net-worth individuals and family offices. They have continually provided a best-in-class investment platform and consistently made significant investments to attract and retain a network of proven, talented advisors who understand their unique needs,' said Mr. Ringdahl. 'I admire what they have accomplished over the past 10 years and have tremendous respect for the firm's leadership team. I look forward to joining their ranks and helping to build on the firm's solid foundation of excellence across client service, comprehensive estate and investment planning, and technology.' Prior to Resolute Investment Managers, Mr. Ringdahl worked at Touchstone Investments, Fidelity Investments, and Western & Southern Financial Group. He earned his Bachelor of Arts in Economics from Boston University and his Master of Business Administration from the Mendoza College of Business at the University of Notre Dame. About Summit Trail Advisors Summit Trail Advisors is an independent fiduciary designed and built for ultra-high net worth clients whose complex financial needs have outgrown traditional wealth management. We serve as the outsourced family office and CIO for our clients and partner with them to guide their generational wealth. Now a select network of clients, business partners, and colleagues collaborating on better ideas and solutions, we have the scale to leverage best practices and drive pricing power for our clients, while still creating highly personalized solutions. Founded in 2015, Summit Trail has 10 offices nationally with headquarters in New York and over $23 billion in AUM. For more information, please visit
Business Times
19-05-2025
- Business
- Business Times
How the ultra wealthy can future-proof their wealth
IN AN increasingly fragmented world, wealth faces new kinds of pressure. Gone are the days when global interconnectedness could be taken for granted. Today, protectionist policies, regional conflicts, and the retreat of globalisation are redrawing the map of economic power and financial security. For ultra-high-net-worth (UHNW) families – typically defined as those with over US$30 million in investable assets – the urgency to rethink wealth strategy has never been greater. Over the last few decades, UHNW families rode a wave of globalisation. Capital, goods, services and people moved across borders with increasing fluidity, enabling families to build multinational businesses, invest seamlessly across continents, and set up homes in multiple countries. But we are now witnessing a decisive shift. Globalisation is slowing – some would argue, reversing. Trade wars, tightening immigration rules, sanctions, reshoring of supply chains and rising nationalism are fracturing global networks. Major economies are prioritising domestic industries over international cooperation. Cross-border investment is becoming more complex. Even historically stable democracies are introducing new capital controls and tightening tax regulations. This evolution introduces a paradox – the world is smaller in terms of information and technology, yet harder to navigate in terms of finance, mobility and asset protection. That's where geographic diversification becomes not just a tool, but a vital safeguard. Diversification matters Wealth concentrated in a single region or legal system is increasingly vulnerable. Spreading family assets, operations and residencies across multiple jurisdictions allows families to reduce exposure to localised volatility. Whether it's mitigating the risk of regulatory overreach, accessing new and diverse markets or ensuring legal structures for succession planning remain intact under different systems of law, a geographically diversified strategy builds both resilience and optionality. This is especially critical at a time when capital flows can be disrupted by shifts in foreign policy, tax-code changes or even public sentiment. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up One country stands out as a particularly compelling starting point for UHNW families beginning this global diversification journey – Singapore. It offers something rare in today's environment – predictability. Politically neutral, economically strong and strategically positioned in Asia, Singapore has evolved into a natural hub for international wealth. Its clear legal system, well-regulated financial markets and low corruption level make it a jurisdiction where investors feel confident. It balances strict compliance with an approach that respects financial privacy and operational autonomy; this is a critical combination for those managing significant and often complex wealth structures. Singapore's appeal doesn't stop at governance. It also offers world-class financial infrastructure and a highly developed ecosystem of private banks, legal advisers, investment managers and family office professionals. At the same time, family offices operating in Singapore can take advantage of beneficial tax treatment, including the absence of capital gains, inheritance and estate taxes. This makes it particularly attractive not just for investment management but also for legacy planning. But while Singapore may be a strong foundation, a single hub is not enough. A truly future-proofed wealth strategy involves building presence and exposure in several complementary jurisdictions around the world. Europe, for example, offers some of the most established legal and financial systems. Countries like Switzerland and Luxembourg are favoured for their banking traditions and privacy protections, while places like the UK and Portugal offer attractive residency pathways and access to the broader European market. These jurisdictions allow families to place trust structures, foundations or holding companies under legal regimes designed to preserve wealth across generations. North America remains important, especially for families looking to participate in tech innovation, private equity and philanthropy. The US continues to be a magnet for capital due to its deep markets and broad business ecosystem. Canada also offers stable governance and strong institutions, along with pathways for skilled migration and education that many families prioritise for the next generation. In the Middle East, countries like the UAE are emerging as wealth hubs in their own right. Dubai, in particular, has seen a surge in international family offices, thanks to its tax advantages, state-of-the-art infrastructure and open approach to business. With strategic links to both Asia and Europe, it's increasingly seen as a complementary base to Singapore. A networked model As families broaden their geographic footprint, structure becomes paramount. Many are evolving beyond the traditional single-family office to a networked model with multiple touchpoints across the globe. A primary office might be located in Singapore, for example, with satellite offices managing European and North American portfolios. This distributed model enables families to operate closer to their assets, comply with local rules more effectively, and remain agile in the face of changing regulations. Yet coordinating such a strategy – across jurisdictions, asset classes, and generations – requires more than just vision. It demands a structured approach with the infrastructure, expertise, and global reach to execute seamlessly. This is where a centralised partner with institutional-grade capabilities can offer significant value. Through a comprehensive ecosystem of investment, compliance, legal, tax, and operational professionals, families can build and maintain globally diversified structures that are both efficient and compliant. A well-organised structure serves as the connective tissue across a family's global presence, overseeing legal entities, aligning wealth planning across jurisdictions, and ensuring transparent reporting in a complex regulatory landscape. For UHNW families, this level of coordination is critical. Without it, efforts to diversify can lead to fragmented oversight, redundant structures, and unnecessary risk. With the right approach, families can focus on long-term strategic outcomes, confident that their cross-border operations are professionally managed. Of course, such a structure brings complexity especially when it comes to legal, tax, and reporting obligations. Each jurisdiction has different requirements, and cross-border compliance must be carefully managed. Harmonising these obligations demands a coordinated team of advisers with deep expertise in international wealth. Succession planning must also be structured with multiple legal systems in mind to avoid conflicts in inheritance law or probate challenges. There are also softer considerations. Lifestyle, culture, education, and healthcare systems all play a role in deciding where to invest and reside. For families thinking not only about capital but also about where their children will grow up, where they'll live in retirement, and where they'll give back philanthropically, these human dimensions are as important as financial ones. Technology, too, has become a vital enabler of geographic diversification. Sophisticated wealth platforms and digital tools allow family offices to track global portfolios, manage compliance workflows, and maintain communication across time zones. In fact, digital infrastructure can be the glue that holds a dispersed global structure together, enabling real-time decision-making and transparency across generations. Ultimately, the world is shifting toward a more localised model. Political borders are becoming more consequential again. Economic nationalism is rising. Financial secrecy is being replaced by reporting transparency. In this landscape, wealth that is too concentrated – geographically, institutionally, or strategically – is inherently at risk. The UHNW families who will thrive are those who think globally, act strategically, and adapt to this new world order. Starting in Singapore gives them a firm foundation, but true resilience lies in building a multi-jurisdictional footprint, one that is managed with a coordinated approach that ensures seamless cross-border operations. Wealth, after all, is not only about accumulation; it's also about freedom – to move, to build, to protect, and to choose. In a world becoming more complex, geographic diversification is what keeps the doors open. The writer managing director, AlTi Wealth Management (Singapore), a company of AlTi Tiedemann Global, an international multi-family office managing or advising on US$76 billion in combined assets.
Business Wire
08-05-2025
- Business
- Business Wire
Mercer Advisors Celebrates Key Milestones in Expanding Partnership
DENVER--(BUSINESS WIRE)-- Mercer Global Advisors, Inc. ('Mercer Advisors'), a national Registered Investment Adviser (RIA), today announced the milestone of welcoming its 100 th M&A partner since initiating its inorganic growth strategy in 2016. Over the last nine years, Mercer Advisors has established itself as one of the premier integrators of growth-oriented, fiduciary-based advisors dedicated to enhancing their clients' financial lives. Integrating 100 M&A partners to date has enabled Mercer Advisors to scale its fully integrated family office platform, making sophisticated wealth management services accessible to more families across the country. Each partner embraces Mercer Advisors' planning-first philosophy aimed at supporting better financial outcomes. Advisors and their teams are empowered to deliver exceptional personalized care to clients with the full support of in-house specialty teams such as tax and estate planning, a 100+-person investment team, operational support resources, and enterprise-grade technology and infrastructure. 'Every partner firm that has joined Mercer Advisors has significantly enriched our culture, enhanced our ability to serve existing clients, and enabled us to reach even more families who can benefit from our services,' said Dave Welling, CEO at Mercer Advisors. 'Each new partner becomes a co-architect in crafting what our clients deserve and what the market sorely lacks – an elevated client experience where we strive to build a family office around every client we serve. In our model, integration leads to empowerment, enabling these firms to serve clients, create opportunities for their teams, and leverage their specific expertise on local markets, client segments, and more to drive future growth.' Partner Firms Expand Depth As new partners join, Mercer Advisors adds capacity, talent, geographies and capabilities. For example: Geographic leadership: Mercer Advisors went from having an $800 million office in Atlanta to now having over $5 billion in client assets in the area, driven by several strategic acquisitions and robust organic growth. Tax Expertise: The company has integrated seven firms with tax practices, building out and enhancing its in-house tax planning and preparation team (now 80 professionals strong). UHNW Family Office: The integration of several multi-family-office RIAs has augmented the company's UHNW service model and private markets expertise. Employee Ownership Unifies Culture Under the leadership of Welling and President Daniel Gourvitch, Mercer Advisors has expanded opportunities for all employees, not just selling principals, to be owners in the company through a variety of equity programs. As an example, all full-time employees have the opportunity to participate in the company's Path to Partnership employee stock purchase program. Today, approximately half of the company's employees are equity owners, supporting a singular mission and one-team culture. 'We're proud to have built a true partnership of professionals who have decided to work together with a shared belief that we can deliver better outcomes for families by working as a unified team,' said Gourvitch. 'The promise of Mercer Advisors to our clients is larger than what any one of us could deliver or achieve on our own or in a smaller group.' Nancy Hughes, CFP®, Senior Wealth Advisor and employee shareholder, who joined Mercer Advisors through the acquisition of Waypoint Capital Advisors in the fall of 2024, is one example of hundreds of advisors who have been able to provide greater value to clients since partnering with the firm. 'As we were looking at partners, we had three criteria – it needed to be better for our clients, our team, and our partners – and in that order,' said Hughes. 'In such a short amount of time, we have already experienced the benefits of deeper resources for our clients, including private market investments due diligence, tax planning capabilities, and estate planning solutions. From the moment we met, we immediately realized Mercer Advisors exceeded our expectations in all three areas.' Mercer Advisors remains very active and interested in adding more like-minded partners to its team. Led by Martine Lellis and Ted Motheral, Mercer Advisors' M&A Partner Development team is responsible for helping potential partners understand the benefits for clients, employees, and themselves of joining one of the leading RIAs in the country. About Mercer Advisors Mercer Advisors, the #1 ranked RIA firm in the nation according to the Barron's 2024 Top 100 Registered Investment Advisor Firms, was founded in 1985. For 40 years, Mercer Advisors has been trusted to help families amplify and simplify their financial lives. The company offers comprehensive, fee-based family office services, including financial planning, estate and tax planning, insurance solutions, and corporate trustee and trust administration services. Mercer Advisors Inc. is a parent company of Mercer Global Advisors, Inc. and is majority owned by Oak Hill Capital, Genstar Capital, and Altas Partners. Mercer Global Advisors, Inc. is headquartered in Denver, Colorado, is privately held, has 1,270+ employees, and operates nationally through more than 100 locations. Mercer Advisors has $71 billion in client assets. For more information, visit and Important Information Company statistics as of March 31, 2025. Client assets refers to client assets under management (AUM) and client assets under advisement (AUA) as well as assets gained from recent acquisitions where the advisory agreements have been properly assigned to Mercer Global Advisors, but the custodial accounts have yet to be transferred and/or the accounts have yet to be migrated to Mercer Global Advisors' portfolio management system. Mercer Advisors is not a law firm and does not provide legal advice to clients. All estate planning documentation preparation and other legal advice is provided through select third parties unaffiliated to Mercer Advisors. Tax preparation and tax filing are a separate fee from Mercer Advisors' investment management and planning services. Trustee services are offered through select third parties with which a client would engage directly, as such additional fees may apply. Mercer Global Advisors has a related insurance agency. Mercer Advisors Insurance Services, LLC (MAIS) is a wholly owned subsidiary of Mercer Advisors Inc. MAIS provides individual life, disability, long term care coverage, and property and casualty coverage through various insurance companies. For Mercer Global Advisors clients who wish to purchase insurance products, MAIS has entered into a non-exclusive referral agreement with Strategic Partner(s), where the Strategic Partner will provide necessary services relative to the marketing, placement, and servicing of the insurance products, including without limitation preparing and presenting illustrations, supporting the underwriting process, assisting with the completion and execution of applications, delivering policies, and servicing in-force business. MAIS and the Strategic Partner will be listed as either 'agents' or 'co-agents' on the policies. While Mercer Global Advisors does not receive a referral fee, Strategic Partner receives a percentage of the commission revenue. MAIS and Strategic Partner do have a revenue sharing agreement. 2024 - Barron's Top 100 RIA methodology Mercer Advisors was ranked number 1 for firms with up to $70 billion in client assets. In 2024 Barron's ranked the largest registered investment advisor firms separately from its broader RIA ranking. For Barron's Mega RIAs list, they selected firms that manage 2% or more of the total assets of all ranking applicants. This year, that created a threshold of $70 billion in assets. Advisers who wish to be ranked fill out a 100+ question survey about their practice. Barron's verifies that data with regulatory databases and then Barron's applies their rankings formula to the data to generate a ranking. The formula features three major categories of calculations: (1) Assets (2) Revenue (3) Quality of practice. In each of those categories Barron's does multiple sub calculations including asset type, growth, client retention, technology spending, succession planning, diversity of their teams, charitable and philanthropic work and compliance records. No fee was paid for participation in the ranking, however, Mercer Advisors has paid a fee to Barron's to use the ranking in marketing. Neither rankings and/or recognitions by unaffiliated rating services, publications, media, or other organizations, should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Mercer Advisors is engaged, or continues to be engaged, to provide investment advisory services. Rankings published by magazines, and others, generally base their selections exclusively on information prepared and/or submitted by the recognized adviser. Rankings are generally limited to participating advisers (see participation criteria/methodology). Unless expressly indicated to the contrary, Mercer Advisors did not pay a fee to be included on any such ranking. No ranking or recognition should be construed as a current or past endorsement of Mercer Advisors by any of its clients.
