Back in 2018 The Family Wealth Report bought together a panel of advisers to ultra high net worth families and discussed how effective business models were at serving the complex needs of these families.
Their conclusion was that, whilst there were great firms serving the space, there was no stand out model that fully served these families. In addition, when speaking to families who had attended the conference it became really clear that there was a lot of confusion amongst these families with them not understanding the value proposition of the business models.
And so the journey to creating The Ultra High Net Worth Institute began.
The UNHW Institute was founded in response to the overarching confusion, lack of transparency and unbiased education available in the marketplace. Their Mission is to:
Additionally, they will remain an independent, objective organisation that represents the entire industry and at all costs – avoids conflicts of interest and even the appearance of “pay to play”.
Listen to the episode here:
The episode with Jim Grubman in which we discuss The Ten Domains of Family Wealth can be found here.
Stephen Prostano is the founder of The Ultra High Net Worth Institute.
He has a career that has spanned decades and has worked with many ultra high net worth families and is a Partner with PKF O’Connor Davies and is Head of Family Advisory Services there.
In a career spanning over three decades, Steve has distinguished himself as an innovator and thought leader in the wealth management, multi-family office and global financial services industries.
He has designed and built leading global and national multi-family offices, asset management firms and has advised industry leaders and ultra-high-net-worth families and family offices throughout his career.
Steve is the recipient of several distinguished industry awards, including Family Wealth Report’s Leading Individual in the MFO Industry and Private Asset Magazine’s Outstanding Contributor to the Wealth Management Industry.
You can find out more about Steve here.