The Evolving Landscape of Wealth Management for Ultra-High Net Worth Families

By Richard Felice

Ultra-high net worth families are facing an increasingly complex array of financial challenges and opportunities. As a financial adviser who works closely with these families, I’ve observed some significant shifts in priorities, investment approaches, and legacy considerations that are shaping strategies today. Here are some of the most pressing issues we’re addressing together:

1. Aligning Investments with Purpose and Values

Our advice is increasingly guided by purpose. Many high-net-worth families are looking to align their investments with their values, seeking opportunities that generate both financial returns and positive social or environmental impact.

My experience is that, while families are increasingly prioritising the “how” and “why” behind their wealth, the approach is likely to evolve considerably over the years as more options are product become available and as the next generation become more engaged.

2. Planning for Generational Wealth Transfer in New Ways

With substantial wealth passing from one generation to the next, families are increasingly recognising the need for structured, multi-generational planning. It’s not just about investment construction – but structure, governance and tailored guidance. This shift is especially pronounced as younger generations bring new perspectives and expectations to wealth stewardship.

For many families, it’s no longer just about “passing on assets” but rather instilling a sense of shared purpose, responsibility, and unity in managing those assets. Structured family governance models, like charters and investment policy statements, are vital to ensure smooth transitions and preserve family harmony.

We’re increasing active in facilitating these discussions and helping design effective governance frameworks that are purposeful for each family.

3. Strengthening Family Legacy and Resilience

For many families, building wealth is only part of the journey; maintaining it over generations requires long-term resilience and adaptability. With the increasing focus on legacy, families are prioritising education, philanthropy, and values-based governance to ensure that future generations are well-equipped to manage and grow the family wealth.

Fostering conversations around these themes and offering tools for multi-generational engagement are essential for creating enduring family legacies.

4. Enhancing Reporting and Transparency

Ultra-high net worth families value transparency, especially as family structures grow more complex. Accurate, timely reporting not only offers peace of mind but also fosters accountability and builds trust within the family.

Today’s financial landscape demands innovative reporting methods that provide clear insights into asset allocation, performance, and tax implications.

Our focus (and challenge!) remains streamlined reporting processes and offering transparency into every aspect of the family’s financial position. This approach empowers family members to make informed decisions, aligns expectations, and reinforces a culture of openness across generations.

If you’re navigating these areas or looking to adapt your strategy to this new landscape, feel free to reach out.