Wealthmanagement.com recently published a great article on how family offices are seeing new challenges in succession planning due to the increasingly wider investment values differences between older and younger generations…
“In particular, succession planning is presenting a serious challenge due to the difficulty of reconciling the values of older and younger generations. Nearly three-fourths of the family offices surveyed believe the next generation will be more focused on decentralized finance as well as environmental, social and governance (ESG) and responsible investments and that they’re willing to forgo some profit for the sake of social good. Forty-five percent of respondents also believe that the next generation of family office leadership is generally more difficult to engage because they’re more focused on their own family and/or career…”
