Precision has never been a feature of the wealth management lexicon. Many words and terms have multiple meanings. And this can often cause confusion.

Indeed it is sometimes possible for two individuals to have a wealth management-related conversation using the same terms and words and come away with a completely different understanding of what they actually talked about.

It is not just the United Kingdom and the United States that are divided by the same language.

Context, nuance and historical perspective can sometimes help provide a greater depth of understanding. But for some words this may still not be eno...