Cultivating Succession: Involving and Engaging Rising Generations in the Family Office


The continuity, vitality, and success of a family office hinge upon the active engagement of rising generations. As wealth transitions from one generation to the next, it becomes imperative to empower younger family members to contribute their ideas, insights, and expertise. According to a recent global survey, 68% of family offices were founded in the year 2000 or later. This means most family offices are approaching a generational transition in leadership for the first time.  

By involving the next generation in the family office’s operations, decision-making processes, and long-term strategies, families can ensure a seamless transition of leadership, preserve their legacy, and harness the fresh perspectives that younger generations bring to the table. In this article, we will provide several helpful tips for involving and engaging rising generations in the family office. 

1. Create a Foundation of Education 

Fostering Financial Literacy: Provide rising generations with a solid understanding of financial concepts, investment strategies, and wealth management principles. Workshops, seminars, and educational resources can empower them to make informed decisions. Involving younger family members in discussions with external professionals such as financial advisors and accountants can provide them with the opportunity to ask questions and gain clarity on the financial situation of the family office.  

Mentorship Programs: Establish mentorship programs that pair younger family members with experienced individuals within the family. This facilitates knowledge transfer, skill development, and a sense of guidance. Mentoring with an experienced member of the family can also help introduce leadership roles to the rising generation and make for a smooth transition of leadership when the time comes. 

2. Offer Opportunities for Learning 

Rotational Participation: Introduce a rotational approach to family office meetings and projects, allowing rising generations to take turns participating in various areas of the family office. This offers exposure to various aspects of the family office and encourages well-rounded growth. 

Hands-On Experience: Assign real responsibilities and projects to younger family members, such as managing specific investments, overseeing philanthropic initiatives, or other special projects that align with their interests and strengths. Hands-on experience nurtures confidence and leadership skills and provides a sense of ownership and responsibility. 

3. Encourage Inclusive Dialogue 

Family Meetings: Include rising generations in family meetings, where they can contribute ideas, ask questions, and gain insights into the family’s values and goals. 

Open Forums: Organize informal discussions or brainstorming sessions that encourage cross-generational conversations, fostering a culture of open and honest communication. 

4. Leverage Technology 

Digital Platforms: Utilize technology to facilitate virtual participation, enabling rising generations to engage in discussions and decision-making even if they are physically distant. 

Online Learning: Offer online courses or webinars focused on topics relevant to the family office, allowing younger family members to learn at their own pace. 

It is important to note that digital and online platforms are helpful and convenient tools that offer a sense of familiarity to younger generations, but they should not take place of intimate, in-person interactions with family.  

5. Philanthropic Engagement 

Social Responsibility: Involve younger family members in philanthropic activities and initiatives, allowing them to connect with their communities and develop a sense of social responsibility. 

Family Values: Tie philanthropy to the family’s core values, fostering a deeper connection between younger generations and the family’s legacy. Help them understand why the family contributes to certain organizations and why it is important to continue giving philanthropically.  


Involving rising generations in the family office is not just a matter of succession planning; it is an investment in the family’s future. By cultivating an environment of education, learning, dialogue, and responsibility, families can ensure that the younger generation is well-prepared to lead, innovate, and uphold the family’s legacy. Embracing their perspectives, passions, and potential will fortify the family office, ensuring its continued growth, adaptability, and relevance in an ever-changing world. 

As the torch passes from one generation to the next, the family office becomes a testament to the family’s resilience, unity, and commitment to nurturing both its wealth and its values. 


Forbes, “Top 5 Tools for Next Generation Engagement”, accessed on August 11, 2023: 

Harvard Business Review, “Is Your Family Office Built for the Future?” accessed on August 11, 2023: 

PWC, 2023 US Family Business Survey, accessed on August 11, 2023:  


The content in this article is provided for informational purposes only and should not be relied upon as investment recommendations or financial planning advice. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.