Navigating wealth with clarity: Itriom’s 12 Dimensions of Wealth Tool

At Itriom, we ardently believe in the power of knowledge. Empowering individuals and organisations with knowledge allows for great decision-making that is aligned with values and purposes.

Our mission is unequivocal: to assist Ultra High Net Worth (UHNW) Families in navigating the intricate tapestry of wealth, legacy, and succession planning across generations. To do so, we realised we needed to develop an approach to better equip advisors and families with the necessary tools to help navigate the delicate and challenging nature of wealth and succession planning.

A more comprehensive framework for UHNW wealth management

The 12 Dimensions of Wealth Tool does just that. It offers a comprehensive framework for understanding the multifaceted challenges faced by UHNW families. It extends beyond conventional areas like investments, taxation, risk management, and legal governance. Instead, it presents a holistic view that encompasses the full spectrum of skills and services needed for UHNW families to thrive while staying true to their values and purpose.

A central feature of this tool is our ability to help UHNW families pinpoint and establish precise priorities. The 12 Dimensions are categorised into four key quadrants, each with three dimensions. These four quadrants – People, Profit, Planet, and Purpose – are all valued equally. Each family member can select their key focus areas via our vital tool. Once every member has completed our digital tool, the results are amalgamated and presented to encourage further discussion. This collaborative approach ensures alignment within the family and collaboration towards a shared vision for the future.

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The 12 Dimensions of Wealth

People: 1) Resilience, 2) Succession, and 3) Transition and Leadership. For example, the Transition and Leadership dimension is the confidence in the preparedness of the Next Generation to lead the family and achieve the family’s ambitions on regional and global stages.

Profit: 4) Wealth Management, 5) Risk Management, and 6) Portfolio Management. For example, the Portfolio Management dimension is the art of reviewing investment portfolios to ensure alignment with family values and goals and involves ongoing evaluation and optimisation of investments for sustainable growth.

Planet: 7) Sustainability, 8) Impact Measurement, and 9) Reporting and Initiatives. For example, the Initiative dimension focuses on the importance of actively participating in philanthropic endeavours, to support social and environmental endeavours.

Purpose: 10) Values and purpose, 11) Governance & Family Charter, and 12) Legacy. For example, the Legacy dimension reflects the family’s vision for the future, emphasising the importance of planning and delivering work to create a lasting positive impact on the community and beyond.

Dynamic guidance for wealth succession

This tool isn’t just a static assessment; it’s a dynamic roadmap to wealth prosperity. As families navigate through the configurator tool, families will find themselves prioritising goals not in isolation, but in alignment with their wider family and creating pathways to move from vision to action. The tool aims to cultivate a sense of unity, common priorities, and a shared vision. Moreover, it opens doors to increased collaboration and wider purpose-led opportunities within the family, ensuring everyone has a voice and stake in the family’s financial journey. It aims to help with prioritising goals, aligning priorities across the wider Family, creating common priorities and a shared vision, identifying the key areas for families to pursue and move forward with unity. These are key factors in ensuring Succession between generations is successful.

From vision to action

Beyond prioritisation, the 12 Dimensions of Wealth Tool serves as a practical guide for action. It doesn’t just tell you what’s important; it shows you how to move forward. With the guidance and support of your chosen wealth manager, it points towards wealth management strategies tailored to your family’s unique needs and aspirations. It empowers you to navigate the complexities of UHNW wealth management with confidence, forging a prosperous path for generations to come.

About the author:

Matthew Millard-Beer is CEO & Founder, based in Itriom’s London Office.

About Itriom

Itriom is the global impact platform helping leading families shape a better world. Itriom’s platform enables families to refresh and redesign their values, aligns them with the right UN Sustainable Development Goals, combining them in an agreed purpose and a Family Impact Charter. Itriom’s platform supports the development of impact initiatives and whilst providing discrete and secure spaces for peer-to-peer messaging and collaboration. Itriom’s core practices in leadership, geostrategy, and sustainability benefit clients by developing strategies to engage and support the next generation in building a lasting legacy of which families can be proud. 

About Itriom's Leadership Practice

Itriom’s leadership and resilience practice instils all-encompassing leadership in support of principals of leading families and the next generation preparing for family succession, transition and evolution.

© 2024 Itriom Limited. All rights reserved. Republication or redistribution of Itriom’s content, including by framing or similar means, is prohibited without the prior written consent of Itriom Limited. This material is provided for informational purposes only.

Alizah Beg

ESG Consultant

Alizah is an ESG Consultant and researcher. She supports Itriom developing sustainability related products and services, helping our clients identify potential opportunities for creating positive environmental, social and sustainable impact.

Georgina Murrin

ESG Analyst

Georgie is an ESG Analyst and researcher. She researches trends, develops insights and reports, and writes insight articles on sustainability and ESG related topics to ensure Itriom’s clients are up to date on the latest policy, progress and initiatives to inform the platform and help our clients maximise their positive impact.

Tim Boughton

Senior Partner
Practice Leader – Leadership & Resilience

Renowned family office thought leader, Tim works with UHNW families to ensure they are fully equipped to deliver their legacies inter-generationally and effectively.

Dr. Herb Castillo

Associate Partner
Practice Leader – Sustainability

Dr. Herb creates methodologies and frameworks for managing, measuring and assessing sustainability performance. His work identifies where maximum impact can be made.

Simon Hulland-Lucas

Senior Partner
Practice Leader – Geostrategy

Simon harnesses research, liaison and networks globally to identify opportunities for Itriom, building the knowledge needed to deliver intergeneration legacies for UHNW families.

Matthew Millard-Beer

Managing Partner
Practice Leader – Strategy

Matthew is Founder & CEO of Itriom, providing solutions and a global platform for Ultra High Net Worth Principals and their families to engage in unifying purpose, enduring legacy, and sustainable impact.