Redefining wealth means redefining wealth management. After all, wealth management is the management of wealth.
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Redefining wealth means redefining wealth management. After all, wealth management is the management of wealth.
These days, people are embracing a holistic and multi-dimensional definition of wealth—one that includes money and other assets. We see this multi-dimensional definition of wealth mirrored back to us through the evolving wealth management industry, which is adopting a more holistic approach.
Wealth is no longer a conversation just about money; it’s a multi-dimensional conversation, which includes money and other assets. Here are the 5 Principles of Invisible Wealth (a concept and framework for redefining wealth), and how they align with the evolving wealth management industry:
1. Money and Investment >> Cash Flow Analysis and Public & Private Investments
2. Health and Quality of Life >> Retirement Planning and Lifestyle Resources
3. Time, Energy, and Experiences >> Administration and Concierge Services
4. Knowledge, Status, and Influence >> Peer-to-Peer Learning and Access
5. Relationship with Self and Others >> Family Wealth Governance/Transfer and Philanthropy