The Cost of Waiting: Empowering the Rising Generation Today
The much discussed global wealth transfer is underway and set to fundamentally reshape families and capital markets over the next two decades. Yet, the UBS Global Family Office Report 2026 reveals a critical missing link: family offices are creating wealth succession plans, but they are failing to actively prepare the people who will inherit them. Each group involved in succession planning - the family office, the older generation, and the younger generation - has different needs and expectations. However, these are often not being met, communicated, or respected in an adequate manner. At best, this miscommunication creates a disinterested next-gen and a frustrated family. At worst, it creates a chasm that can drive families apart. To ensure long-term wealth preservation, it is essential for all parties to pivot from passive planning to active next-generation empowerment.
The Transition Timeline
The report exposes a mismatch in expectations surrounding when and how wealth education should begin:
- Next Gen Perspective: A clear majority of the next generation believe parents and advisors should begin discussing wealth with them before the age of 20.
- The Family Office Perspective: Family offices typically view ages 18 to 29 as the bracket to start educating heirs, and ages 30 to 39 as the appropriate time for active decision-making involvement.
Despite these benchmarks, a huge portion of heirs who are deemed old enough to participate remain entirely on the sidelines.
Disinterest vs. Gaps in Empowerment
Why are heirs staying on the sidelines? The report points directly to gaps in structured financial and governance education, combined with a general reluctance from the current generation to share or hand over responsibilities.
Anastasia Deryagina, Head of Global Next Generation Solutions at UBS, provides an important perspective:
“Next generation disengagement is frequently misread as disinterest when it’s actually a gap in empowerment. When we take time to reframe responsible wealth management as a means for pursuing family purpose, personal meaning, professional impact and individual passions, the point of interest shifts.”
While 52% of family offices state they are looking to introduce training programs down the road, only 27% of family offices currently have an organized process to educate or prepare the next generation for their future roles. This lack of planning is dangerous for a number of reasons. With no plan, there can be no clear communication about how things will be handled in any number of complicated situations that can arise for a wealthy family. This, in turn, creates confusion and frustration among the next generation, who feel responsibility looming but haven’t developed the tools to handle it and - because of this - likely have difficulty communicating these frustrations and find it easier to simply stay on the sidelines.
Bridging the Gap with leafplanner
Empowering the next generation requires giving them a clear window into the family’s operational ecosystem without overwhelming them. With modern tools this can be a gradual learning process rather than a days-long boardroom meeting. This means the discussion can start earlier - appeasing the eager next generation - but also be limited - appeasing the elders and advisors who may feel the next gen isn’t quite ready for all the information.
Here is how a modern tool like leafplanner can systematically turn a family's operational risk into an empowerment opportunity:
- Reframing Wealth as Purpose: leafplanner gathers the complex, dry details of wealth administration and contextualizes them into an organized family narrative. It moves beyond just managing assets to documenting the "why" behind the wealth, allowing the current generation to share information incrementally, matching the next gen’s natural desire for early transparency.
- Capturing Institutional Knowledge (IQ & EQ): Moving financial data is the easy part. The real challenge in succession is passing down the values, history, and soft wisdom that define a legacy. leafplanner provides a tangible, structured, and interactive blueprint that captures this institutional knowledge, ensuring that when heirs step into leadership, they have a complete, contextual understanding—not just a spreadsheet.
- Mitigating Risk & Ensuring Continuity: By addressing the widespread lack of operational manuals and formal succession plans, leafplanner provides the organized foundation that the UBS report identifies as missing. It serves as a continuous training ground, systematically preparing heirs for their future roles—whether in investment committees, entrepreneurial ventures, or philanthropic pursuits—while insulating the family ecosystem from the disruptions of unexpected turnover.
Wealth transfer discussions can be uncomfortable, demanding immense patience and persistence. By utilizing leafplanner, you transform your heirs from passive bystanders into capable, empowered stewards, while simultaneously hardening your family office against the operational risks of the future.
The Path Forward
Succession planning represents both a profound risk and an unprecedented opportunity for family legacies. As the UBS Global Family Office Report 2026 highlights, bridging the gap between passive planning and active next-generation empowerment is no longer optional, it is a strategic imperative. By shifting the paradigm from dense spreadsheets to purpose-driven education, and utilizing comprehensive tools like leafplanner, families can demystify their operational ecosystems. Capturing both institutional knowledge and foundational values ensures that the next generation steps out of the shadows and onto the field, transformed from passive bystanders into stewards ready to safeguard and build on the family legacy for decades to come.
More resources on succession planning and the next generation:
