Notícias
30 de julho de 2026
Across the globe, a profound transformation is reshaping private wealth. Over the coming decades, an unprecedented sum will change hands as one generation entrusts its fortune to the next. For families and their advisers, this is a pivotal moment: decisions taken now will influence whether wealth endures, supports future ambitions and reflects family values, or gradually dissipates over time.
Many wealthy families sense they are underprepared. Research suggests that around 50% of families worry about their readiness to pass on assets, and with reason. By the second generation, about 70% of family wealth is typically lost; by the third, that figure can reach 90%. The main causes are rarely disastrous investments but much more human factors, including poor communication, lack of planning, and the difficulty of aligning family values across generations with very different experiences and expectations.
Inheritance taxes, cross-border complexities, and the natural dilution of assets across growing family trees all take their toll. Early planning for preservation is key.
In this context, the role of the private bank is evolving. We can no longer focus solely on portfolios and markets. A modern private bank must act as a holistic partner to the entire family, not just the wealth creator.
Our senior client relationship officers now orchestrate teams of specialists, looking at investments, structuring, governance and family dynamics as part of a single picture. Increasingly, we are facilitators as much as financial advisers: helping families articulate their purpose, create frameworks for decision making, mediate between generations, and coordinate with other advisers and family offices. The aim is to support not just the assets, but the family behind them.
Early engagement and education are crucial for preparing the next generation, with work experience, events, and adviser exposure helping to demystify wealth and its responsibilities.
Many families now use investment and purpose statements, governance frameworks, and phased asset access to guide decisions and align behaviour and family values with long-term goals. There’s also a growing emphasis on the ‘joy of giving while living’ mentoring the next generation and allowing them to participate in philanthropy and investment decisions early, so they can learn by doing.
There is a growing focus on mentoring Genz X and Gen Z, encouraging active participation in philanthropy and investment, and incorporating younger generations’ values, such as sustainability, into the wider family strategy.
Communication emerges as the most critical factor in successful wealth transfer. Surprises like undisclosed trusts or hidden assets can breed resentment and disputes. Communication encourages having age-appropriate, phased conversations that foster trust and understanding. This is where my teams bring human value, by facilitating these discussions.
While succession planning can be challenging due to sensitive topics, such as mortality and legacy, early and structured conversations are essential.
Whilst the challenges of wealth transfer are universal, we see that cultural differences shape how families approach succession. Our client conversations are very much influenced by where they come from. In some regions, such as East Asia, traditions of privacy and stewardship prevail, with wealth often passed to the eldest. In the UK and other Anglo-Saxon cultures, there’s a trend toward fairer, more even distribution. High-tax jurisdictions often see families better prepared, as the tangible costs of inheritance taxes drive planning.
Today’s wealthy families are also more global than ever. Children study and work abroad, assets are held across continents, and family members may relocate for personal or professional reasons. We now look at cross-border solutions, helping families manage everything from property purchases for students to the complexities of international tax and trust structures with our in-house and network of trusted partners.
Differences in investment philosophy can create friction, especially after wealth has been distributed. One sibling may favour aggressive investment strategies, while another prefers a conservative approach. Without clear frameworks and open discussion, these differences can lead to resentment and suboptimal outcomes.
The solution lies in setting clear guidelines for how wealth is managed and by whom, aligning on risk tolerance, time horizons, and goals, all while respecting individual preferences. Once again, we play a pivotal role in presenting and explaining all options.
Younger generations are comfortable with AI tools and online platforms. They therefore show less loyalty to traditional institutions so we cannot be complacent. Even as technology transforms the industry, the ‘human adviser’ remains irreplaceable. Wisdom, context, empathy, and the ability to mediate family dynamics are qualities that no algorithm can replicate.
Our whole industry has had to adapt to the significant change and blend the efficiency and insight of AI with the deep, relationship-led advice of experienced professionals. In times of market volatility or family crisis, we find that the human touch always prevails.
Many business owners aspire to pass on not just their wealth, but also the ownership and values of the business to the next generation. The process can be emotionally complex, with owners often reluctant to address succession due to concerns about losing control or disrupting family harmony.
Family members may have differing views for the future of their business. Despite these challenges, proactive planning is essential. Well-designed succession and exit strategies allow families to best agree how their legacy will continue, ensuring the business remains resilient and enables a smooth transition that honours the founder’s vision while empowering the next generation to thrive.
As new technologies, global mobility and shifting values continue to reshape the landscape, the families most likely to thrive will be those that embrace change, foster open dialogue and invest in the next generation – not only financially, but through education, mentorship and a shared sense of purpose.
Trusted advisers have a central role to play in this journey: helping families plan early, communicate clearly and navigate complexity with confidence. Ultimately, the great wealth transfer is about more than numbers on a balance sheet. It is about legacy and stewardship – ensuring that today’s success empowers future generations and continues to support the ambitions and values of the family for many years to come.
Fonte: TATLER ADRESS BOOK
Por: Tatler Advisory
