Luxury Daily has named Wealth-X the 2014 Luxury Researcher of the Year. Wealth-X beat out L2, a member-based business intelligence service that benchmarks the digital competence of brands, and Boston Consulting Group, a global management consulting firm, to claim the honor.

The Luxury Researcher of the Year award winner is decided based on the relevance, ingenuity and scope of research reports, and all candidates had to have appeared in Luxury Daily coverage this year, according to the firm.

Wealth-X reports in 2014 included its annual Wealth-X and UBS World Ultra Wealth Report and Wealth-X and UBS Billionaire Census, as well as the Wealth-X and Arton Capital Philanthropy Report.

Wealth-X also launched its Luxury Industry Sentiment Index (LISI), which gauges the level of optimism among luxury industry professionals globally. In addition, the firm published quarterly installments of the Luxury Sentiment Survey Report, which provides the luxury industry's outlook on its relationship with ultra-high-net-worth consumers.

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