Many family offices are still falling short when it comes to preparing the next generation for leadership, with over half yet to establish clear succession plans, according to new research by Campden Wealth and AlTi Tiedemann Global.
While there’s growing emphasis on involving younger family members and improving their financial education, the report shows that most offices lack a cohesive, long-term strategy to ensure smooth generational transition. This gap threatens the continuity and preservation of wealth.
The study, which draws from 146 family offices across North America, Europe and Asia, revealed that although 60% of next-gen members are invited to board meetings, few are given structured development opportunities to build their leadership capabilities.
Encouragingly, more family offices are investing in family engagement and education initiatives—23% have added such services in the past two years. Succession and governance planning also ranked among the top five additions, signalling a shift toward prioritising intergenerational wealth transfer.
However, these efforts remain inconsistent. Education for heirs was rated the least satisfactory service offered by family offices, particularly by external advisers, who expressed lower confidence than family insiders. Succession planning followed closely behind as one of the weakest areas overall.
The report notes that newer family offices often need time to develop the cultural and governance infrastructure that older, more established offices have refined over decades. These mature offices tend to show stronger capabilities when it comes to preparing future leaders.
In contrast to these challenges, family offices showed high satisfaction in areas tied to investment performance, tax planning, and staff effectiveness. Employee dedication and ability to manage complexity were among the top-rated elements—highlighting the crucial role of experienced teams in maintaining operational excellence.
