Succession
The Succession Gap: Preparing the Next Generation
The latest family-office research shows a striking gap between operational sophistication and succession readiness.
UBS reported in 2026 that only 35% of surveyed family offices had a defined succession plan for the family office itself, and only 27% had a structured process to educate and prepare heirs for future roles.
KEY TAKEAWAYS
Succession is a capability-building problem, not just a legal-document problem.
Philanthropy can be a lower-risk environment for next-gen governance experience.
Give future leaders real responsibility in stages.
What the data says
UBS surveyed 307 family offices across more than 30 markets with an average net worth of $2.7 billion. The report found strong adoption of performance measurement and investment committees, but much weaker succession and next-generation preparation.
A better education ladder
Start with family history and values. Then teach basic financial statements, taxes, trusts, investment policy, governance and philanthropy. Invite next-gen members to observe meetings before asking them to vote. Give them a defined charitable budget or research project. Add responsibility as competence and judgment grow.
The family-office job description
Successors need to know what they are inheriting: not merely assets, but relationships, obligations, governance processes, reputational capital and often a mission. That is why a succession plan for the office itself matters alongside estate documents.
FAQ
When should next-gen education start?
Earlier than most families think, with age-appropriate conversations about work, saving, giving, family history and responsibility.
Is philanthropy useful for training?
Yes. UBS notes family offices are using philanthropic and entrepreneurial initiatives as pathways for next-generation involvement.
Sources and research trail
This page was developed from the source manuscript and should be read with the publication's primary-source library.
- UBS Global Family Office Report 2026