Discuss the forms that personal wealth takes and how it is built up and shared across the world

Personal wealth includes financial assets such as deposits, securities and retirement accounts; real assets such as homes, land and collectibles; interests in private businesses; and human capital, the present value of future earnings. It is created through employment income and saving, entrepreneurship and business sale, investment returns compounding over time, and inheritance. Globally, wealth is unevenly distributed across and within countries, and concentrated among a relatively small share of households, which shapes the markets that wealth managers serve, from mass affluent to high and ultra-high net worth clients. Wealthier segments need more estate, tax and family governance advice. A trap is ignoring illiquid holdings such as a business when judging a client's true risk.