The world of fine art, which is an important topic for many HNW and ultra-HNW individuals, is also a barometer of their values and appetite for risk.

Wealthspire Advisors, the RIA with almost $29 billion in AuM, has launched Art InSpired, an initiative focused on promoting art through investor education on the financial appreciation of art and collectibles. 

The program involves hosted and sponsored events, and art-focused thought leadership, Wealthspire, which operates across the US, said in a statement this week. 

Wealthspire has been busy, recently rolling out Wealthspire Trust LLC, adding family office accounting services, and expanding a team of wealth strategy professionals who specialize in estate planning, wealth transfer, and taxation.

The Art InSpired initiative kicked off on Wednesday with a hosted gallery event in New York City; it continues with sponsored art exhibitions and educational events across the US in 2025. The program includes a content series that leverages Wealthspire’s podcast platform, advisor-authored articles and white papers, video profiles of artists and gallery owners, and promotional videos across the firm’s channels.

As this news service has reported, the world of fine art is an important topic for many HNW and ultra-HNW individuals and also a barometer about their values and appetite for risk. A number of firms, such as Citi Private Bank and Deutsche Bank, provide specialist art advice and specialist lending offerings. According to the Deloitte & Art Tactic – Art & Finance Report 2023, it found that 87 per cent of family offices have an interest in physical ownership of art, but are also looking at alternative art ownership structures such as art and culture-related social impact investments (37 per cent) and fractional ownership (30 per cent).

“Multi-generational families’ expectations are evolving beyond traditional wealth management – collecting and investing in art provides them with an opportunity to further diversify their portfolios,” Mike LaMena, chief executive officer of Wealthspire Advisors, said. 

The firm is collaborating with the Museum of Contemporary Art in Westport, Connecticut, to deliver a lecture series of educational webinars for art collectors and investors.

“A significant part of our work at Wealthspire Advisors is centered around community engagement, philanthropy, and legacy building for multi-generational families,” Heather Flanagan (pictured), head of family office services and chair of the Wealthspire Trust board, said. 

Heather Flanagan

Higher interest rates, inflation and political instability may have dented the world’s art market last year – sales fell 4 per cent in 2023 from 2022 to $65 billion – but the scale of the market is still large (source: Art Basel, UBS).