Engaging the next generation in the family office: what works

The data on next-generation engagement describes a gap between intention and practice. UBS's Global Family Office Report 2026 found that 45% of family offices involve the next generation fully or partially, 32% say the next generation is too young, and 21% have heirs who are old enough to participate and are not involved. The barriers offices name most are gaps in financial and governance education and the current generation's reluctance to hand over responsibility. The approaches offices report using, or planning, are structured education, involvement in philanthropy, seats at investment committee meetings and support for entrepreneurial ventures, and most offices expect engagement to start between the ages of 30 and 39.

How involved the next generation is

UBS's 2026 figures vary considerably by region. The Middle East has the highest share of fully involved heirs, and the US and Europe the highest shares of heirs who are old enough and uninvolved.

Source: UBS Global Family Office Report 2026, 307 offices surveyed January to March 2026.

Other surveys describe involvement in different terms. The Campden Wealth and AlTi Tiedemann Global operational excellence research, reported in June 2025, found that 60% of next-generation members are invited to attend board meetings but only a small proportion receive structured development for future leadership. AlTi's 2026 preview of the same series found that 71% of offices had not yet, or not fully, engaged the next generation in defining the purpose of the family's wealth.

The barriers offices report

UBS attributes limited engagement to education gaps and to the current generation's unwillingness to hand over, and notes that the problem is sometimes misread as disinterest when it is a lack of empowerment. Deloitte's 2026 study of 1,587 family businesses lists the barriers in order: 35% say the next generation is insufficiently qualified or lacks experience, 33% find it difficult to identify a suitable successor, and 32% point to current leadership's reluctance to relinquish control. PwC's 2023 Global Family Business Survey of 2,043 leaders found that one in four reported a trust gap between the current and next generation and 41% said family members did not share similar views about the business's direction.

Information flow is part of the problem. Bank of America's 2025 Family Office Study found that highly involved principals are more intentional about onboarding heirs, with 45% starting when the next generation reaches a certain age and 43% when they show interest, but the same principals are also more likely to restrict what information can be shared with them.

What offices say they will do

The UBS data shows where offices are heading. Among offices where the next generation is not fully involved, 52% plan to introduce financial education or training programmes, a third are considering involving heirs through philanthropic initiatives, and around two fifths are looking at supporting entrepreneurial ventures or including heirs in investment committee meetings. Offices most commonly see 18 to 29 as the right age to start educating heirs and 30 to 39 as the right age for active engagement in decisions.

The next generation's own view is that this is late. UBS's Next Generation Report 2026, as reported by Family Wealth Report, found that 56% of inheritors think parents should discuss wealth with their children earlier; 44% had their first wealth conversation in early adulthood, 37% as teenagers and 17% in childhood. Two thirds became involved in managing family wealth as young adults.

In family businesses, Deloitte's 2026 data shows the development methods in use: 44% assign formal roles with accountability and performance management, 43% use on-the-job training and leadership shadowing, and 40% require outside work experience before joining. The next generation already holds active roles in technology (51%), philanthropy and community engagement (51%), sales and marketing (50%) and innovation (49%).

What the evidence supports

Several conclusions follow from the surveys. Engagement is more common where principals are involved and intentional about timing. Education comes before participation, and offices that skip it report heirs who are "not qualified". Philanthropy and investment committee observation are the two lowest-risk entry points and the two offices plan to use most. Finally, the structures matter: a family council gives heirs a forum of their own, a structured curriculum is described in financial education for heirs, and philanthropy as a training ground covers the most common first step.