The UHNW Institute – the think tank reshaping how wealth management for UHNW clients is addressed and described – has been launching a new vocabulary and methodology for the sector, and is also unveiling new initiatives to take its work forward.

(Family Wealth Report is exclusive media partner to the UHNW Institute.)

The wealth management profession is at an inflection point. As ultra-high net worth families face growing complexity and rising expectations, the industry has lacked a unifying structure to meet those demands – until now.

With several foundational tools launching now – and more rolling out later this year – the UHNW Institute is leading a major professionalization effort to transform the way firms operate and how families are served. (See the Institute's own website, here.)

“Our members are part of an industry-wide movement to define what excellence truly looks like in serving ultra-high net worth families,” Steve Prostano, chairman and CEO of The UHNW Institute, said.

The Institute has officially launched the next evolution in its Integrated Family Wealth Management (IFWM) Initiative. These tools and frameworks mark an historic first for the industry: the introduction of defined standards, shared language, and practical models for delivering truly integrated wealth management. What began with the Ten Domains of Family Wealth is now advancing into a comprehensive ecosystem of thought leadership, tools, and guidance that will reshape the profession for generations to come.

A first for the industry: standards and a shared language 
At the center of these innovations is the Wealthesaurus™ – the first-ever standardized glossary of wealth management terms. Addressing one of the industry’s most persistent challenges, the Wealthesaurus™ offers clear, consistent definitions across disciplines, from tax and estate planning to family governance and philanthropy.

“This is about creating true industry-wide standards,” said Jim Grubman, content and curriculum chair of The Institute. “Without a shared language, even the best teams struggle to collaborate effectively or meet the needs of complex families. We’re solving that – starting now.”

The Wealthesaurus™ aims to eliminate confusion, reduce miscommunication, and set a new benchmark for the language professionals use when working with UHNW families. It’s a foundational tool for improving both internal collaboration and the client experience.

The AIM framework: Setting the standard for service delivery
Also launching is the AIM Framework – short for Assessment, Implementation, and Monitoring – a structured model for delivering integrated wealth management services. AIM is the profession’s first standardized delivery framework for integrated advisory services. It outlines the full lifecycle of an engagement, whether you're a specialist delivering services in one or a few of the Ten Domains or part of a broad multidisciplinary team serving client needs in most or all of the Domains.

The AIM Framework outlines best practices across three core phases of client service, helping firms build repeatable processes, deliver consistent excellence, and ensure high standards across internal and external teams.

It elevates how individual professionals operate and enables firm-wide consistency, cross-functional collaboration, and a more unified experience for UHNW families. It’s more than a model – it’s a foundational shift in how integrated wealth management is delivered.

Coming Soon: Expanding the IFWM ecosystem
Building on the momentum of the Wealthesaurus™ and AIM Framework, The Institute will then launch several new thought leadership resources and programs in 2025. These will provide further support to professionals and firms evolving their service models and delivering integrated value to UHNW families:

A) The Advisory Business Models Survey
This groundbreaking survey will help firms evaluate how they currently serve UHNW families and areas where they might evolve their service model. Anchored in the Ten Domains of Family Wealth and the AIM Framework, it functions as both a diagnostic tool and a catalyst for advancing the industry.

“Firms will use the survey to self-assess how they serve UHNW clients in terms of the Domains in which they adequately address their clients’ needs and whether they serve as collaborators or integrators,” said Wally Head, The Institute board member who is leading the IFWM Initiative. “Comparing their survey results to those of other firms will help them decide whether they want to adjust their current service model. Composite survey results also will help families better understand the service models that are available in the marketplace.”   

Why the survey matters for the industry
Participating firms will benefit from:
-- A customized self-assessment that benchmarks their current business model against peer firms and the Institute’s standards.
-- Strategic insights to guide business planning, evaluate capabilities, and identify new areas for specialization.
-- Data-driven support to improve client communication and demonstrate alignment with best practices.
-- A feedback loop that shapes future Institute tools and programming based on real-world needs.

How the data will be used
Survey results will:
-- Drive the creation of actionable tools and educational programs that help firms modernize, scale, and enhance quality.
-- Improve transparency for UHNW families, helping them make informed decisions about advisory relationships.
-- Fuel additional thought leadership that reinforces the Institute’s role as a standard setter in wealth management.

B) Strategic considerations and decision tree white paper 
This new resource offers a clear, structured framework to help wealth management firms evaluate and execute service expansion. It begins with an in-depth assessment of client demand, encouraging firms to examine their capabilities, client base, and referral networks. The model guides firms through key strategic choices – such as pricing (bundled versus standalone services), resourcing (internal talent versus external partners), and risk evaluation (reputational, operational, and regulatory). It also prompts a review of the firm’s legal and structural readiness to deliver integrated services. Emphasizing that integration is not a one-size-fits-all approach, the decision tree helps firms weigh growth potential and profitability against client needs.

An upcoming white paper from The Institute will explore this model in depth, offering practical insights to help firms make confident, informed decisions that enhance their value proposition while maintaining operational excellence.

C) Family assessment and advisor search tool 
This comprehensive set of tools begins with an understanding and classification of the Common Catalysts of Change – the key events that often prompt families to revise their current advisory relationships or seek new ones. Many families embark on the search for a new advisor without first conducting a thorough assessment of their needs.

Designed specifically for UHNW families, the Advisor Search Tool guides users through the often-stressful process of evaluating and selecting advisory firms. Grounded in the Institute’s standards, it enables families to:
-- Identify service models that align with their goals;
-- Understand differences in firm approach and scope; and 
-- Make informed decisions about long-term advisory partnerships.

D) The service delivery model: Redefining how services are executed 
The Institute’s new Service Delivery Model introduces a practical framework for how integrated wealth management is executed day-to-day. Founded upon four key components, the model covers:
1. The firm/team; 
2. The advisor; 
3. The services; and 
4. The process.

Highlights include:
• Integration in action – Examples demonstrating successful firm structures and processes.
• Practical case studies – Real-world use cases showing internal and external experts delivering aligned solutions.

These tools will help firms operationalize integration – not just in theory, but in tangible ways that improve client outcomes.

According to Tom McCullough, chairman and founder, Northwood Family Office, “the Service Delivery Model brings discipline and structure to what has long been intuitive and ad hoc. It enables firms to consistently deliver high-quality, multidisciplinary advice. For families, it means more clarity, alignment, and confidence in how their complex needs are met.”

E) The outsourcing framework: Built for the future 
Recognizing the rise of hybrid models, the upcoming Outsourcing Framework will provide a structured approach to:
-- Selecting and vetting external experts;
-- Conducting due diligence;
-- Establishing contracts; and
-- Setting accountability protocols.
This complements the AIM Framework by helping firms scale up services while ensuring quality and cohesion across teams and partnerships.

What these tools mean for the industry: IFWM as a mandate, not just a movement
Together, these developments signal a foundational shift in how UHNW wealth management is defined, delivered, and evaluated. The Integrated Family Wealth Management Initiative is more than a movement – it’s a mandate for transformation. Firms that embrace this change gain more than access to new tools. They gain a strategic roadmap that aligns with the evolving expectations of UHNW families and a framework for operational excellence.