A Guide for Multigenerational Families
Compardo, Wienstroer & Janes at Moneta – Matt Herman, Senior Advisor, CPA
You spend a lifetime building wealth, only to find that the harder challenge is preserving it across future generations.
As families become more successful, complexity naturally follows. More trusts, more entities, more investment opportunities, and more family members with different priorities. Left unmanaged, this complexity can slowly become a source of tension rather than opportunity.
At Moneta, we work with multigenerational families facing these challenges every day. While every family is different, the conversations tend to revolve around the same questions.
“How do we make financial decisions as a family without it tearing us apart?”
Money rarely creates conflict on its own. Unclear expectations usually do.
As families grow, different branches naturally develop different objectives. One generation may want to preserve capital while another wants to pursue new investment opportunities or increase distributions. Without a process for making decisions, even routine conversations can become turbulent.
Rather than waiting for disagreements to surface, we help families establish governance frameworks that define how major decisions are made, who participates, and how differing viewpoints are incorporated. Family councils, family charters, and regular family meetings often become the foundation of healthy communication. We’ve seen families spend months debating whether to sell a closely held business, only to realize the real issue wasn’t the transaction itself. It was that no one had ever agreed on who had the authority to make the decision or how the proceeds would ultimately be allocated.
“How do we prepare the next generation without enabling them?”
Transferring assets is relatively straightforward.
Preparing future stewards is much more difficult.
Many families invest enormous energy into building financial capital but far less into developing the people who will eventually be responsible for managing it. Education should extend well beyond investing to include taxes, trusts, estate planning, philanthropy, leadership, and family history.
The strongest transitions happen gradually. We’ve worked with families that invited younger generations to participate in investment and philanthropic committees’ years before they inherited meaningful wealth. By the time responsibility is formally transferred, they weren’t learning on the job. They had already developed the experience, confidence, and judgment to contribute thoughtfully.
“How do we structure giving without losing sight of what we actually care about?”
The most successful philanthropic strategies begin with shared values, not tax strategies.
Families often assume they disagree on where to give, when in reality, they haven’t first defined what they’re trying to accomplish together. Once those conversations happen, selecting the appropriate charitable vehicles and governance structure becomes significantly easier.
One family initially found themselves divided across dozens of charitable interests. After taking a step back, they realized nearly every cause they cared about centered on expanding educational opportunity. That shared purpose became the foundation for a family giving strategy that not only improved their impact but also created a meaningful way for younger generations to participate together.
“What happens to the family business when we’re gone?”
Business succession is rarely about documents alone.
It’s about leadership.
Estate plans can transfer ownership, but they cannot automatically transfer decision making, trust, or institutional knowledge. Families need clarity around who will lead, how major decisions will be made, and what role each family member will play long before a transition occurs.
In one situation, parents assumed all three children would eventually run the family business together. Through the planning process, it became clear that only one child wanted an operating role while the others preferred to remain owners without day-to-day responsibilities. Clarifying those expectations early, allowed us to create a succession plan that reflected both the family’s goals and each child’s strengths while avoiding years of potential conflict.
“Is our investment strategy actually built for a family like ours?”
Most investment portfolios are built for individuals.
Multigenerational families require something different.
Generations often have different liquidity needs, tax situations, risk tolerances, and time horizons. Looking at each account independently can create unintended concentrations across the family’s broader balance sheet.
We’ve worked with families that believed they were highly diversified because each trust and investment account appeared balanced on its own. Once we consolidated the family’s operating businesses, private investments, real estate, and marketable securities into a single view, it became clear they had significantly more exposure to private businesses than anyone realized. That broader perspective led to a more thoughtful allocation strategy and better-informed capital decisions.
“Working With Families Who Have More Than Money at Stake”
The most successful families think beyond financial capital.
We view every family enterprise across four interconnected dimensions: family assets, financial assets, philanthropic assets, and intellectual assets. When these areas are aligned, wealth becomes more than a balance sheet. It becomes a platform for opportunity, stewardship, and continuity.
As members of the Family Office Exchange (FOX), we have the opportunity to learn from leading family offices around the world and bring those best practices to the families we serve.
Families that endure for generations rarely do so because they generate the highest investment returns. They succeed because they invest as intentionally in their family as they do in building their wealth.
Disclosure:
© 2026 Advisory services offered by Moneta Group Investment Advisors, LLC, (“MGIA”) an investment adviser registered with the Securities and Exchange Commission (“SEC”). MGIA is a wholly owned subsidiary of Moneta Group, LLC. Registration as an investment adviser does not imply a certain level of skill or training. The information contained herein is for informational purposes only, is not intended to be comprehensive or exclusive, and is based on materials deemed reliable, but the accuracy of which has not been verified. Trademarks and copyrights of materials referenced herein are the property of their respective owners. Index returns reflect total return, assuming reinvestment of dividends and interest. The returns do not reflect the effect of taxes and/or fees that an investor would incur. Examples contained herein are for illustrative purposes only based on generic assumptions. Given the dynamic nature of the subject matter and the environment in which this communication was written, the information contained herein is subject to change. This is not an offer to sell or buy securities, nor does it represent any specific recommendation. You should consult with an appropriately credentialed professional before making any financial, investment, tax or legal decision. An index is an unmanaged portfolio of specified securities and does not reflect any initial or ongoing expenses nor can it be invested in directly. Past performance is not indicative of future returns. All investments are subject to a risk of loss. Diversification and strategic asset allocation do not assure profit or protect against loss in declining markets. These materials do not take into consideration your personal circumstances, financial or otherwise.
