Over the coming decades, the world will witness one of the largest wealth transfers in history. Trillions of dollars are expected to pass from Baby Boomers and Generation X to Millennials and Generation Z, reshaping the global wealth landscape. But this is not simply a transfer of assets. It is a transfer of values, priorities, and perspectives on wealth itself. For Family Offices, this generational handover presents both challenges and opportunities. Those that adapt now will strengthen their relevance for decades to come. Those who delay risk becoming misaligned with the very individuals they exist to serve.

The next generation of wealth holders

Millennials and Gen Z approach wealth with a distinct sense of responsibility. They view capital not just as something to be safeguarded, but as a force that can influence positive change. Unlike earlier generations, who often placed greater emphasis on legacy and preservation, younger wealth holders tend to place equal weight on innovation, sustainability, and social contribution.

The Citi Private Bank’s 2025 Global Family Office report reveals a generational divide in preferences for different functions within a Family Office. Reportedly, Family Offices that host more than three generations of members are more focused on fostering family unity and continuity than their predecessors. It also suggests that first-generation members tend to prioritise lifestyle management (21%), way more than third-generation members (9%). On the contrary, the newer generations appear to value accounting, reporting, tax, and administrative services more than their predecessors.

Entrepreneurialism is also on the rise. Many younger wealth holders are wealth creators in their own right, building businesses in technology, renewable energy, or other growth sectors, and many have even begun to establish their own Family Offices. Our soon-to-be-released 2025 Global Family Office Compensation Report reinforces this trend. We found a decline in Family Offices that span four generations, and a rise in first- and second-generation offices. This suggests that younger wealth holders are not only taking control earlier but also building structures that better align with their vision.

Evolving governance and decision-making styles

Governance is an area where generational differences are becoming visible. Younger wealth holders, particularly Millennials and Gen Z, who expect decision-making to be accountable, clearly structured, and aligned with shared values. This represents a marked departure from the more centralised, sometimes personality-driven approaches that earlier generations often relied on.

As a result, the governance of Family Offices is undergoing significant professionalisation. Structures that may once have relied on informal practices are being redesigned to ensure rigour, fairness, and modern oversight. Findings from the Citi Private Bank’s 2025 Global Family Office Report underscore this trend. The report highlights that longer-established Family Offices, typically serving third or later generations, place greater emphasis on formalised governance practices. This also applies to the Investment Governance aspect. Interestingly, Family Offices serving third-generation families and beyond are also more likely to employ their own CIO, reflecting their sophisticated investment requirements.

For Family Offices, these developments require a shift in mindset. Traditional investment models and governance structures must evolve to reflect a new outlook, one that balances performance with purpose, accountability with agility, and family unity with professional structure.

Technology as a catalyst

Technology plays an essential role in how Millennials and Gen Z engage with their wealth. As digital natives, they expect seamless access to information, whether through communication platforms, real-time investment reporting, or collaborative decision-making tools.

For Family Offices, this means integrating digital solutions into daily operations. Dashboards, analytics, and secure mobile access are becoming standard expectations. Technology is not only about convenience but also about agility. It allows decisions to be made quickly and efficiently, with data at hand.

Moreover, technology acts as a bridge across geographies and cultures, enabling far-flung family members to remain engaged and connected. For global families, this digital fluency is vital to ensuring cohesion across generations and branches.

Preparing the Family Office for generational change

Practical steps include:

  • Embedding next-generation voices early: Advisory committees or shadow boards give younger family members a platform to contribute before they assume formal leadership roles.
  • Aligning recruitment and talent strategies: Hire the relevant specialists and professionals to ensure the Family Office is equipped for the new priorities of the new generation members.
  • Updating governance structures: Flexible, transparent, and inclusive governance models align with the expectations of new generation leaders.
  • Education and mentoring: Structured programmes can bridge generational divides, ensuring values are respected while preparing younger members for future responsibilities.

By preparing in this way, Family Offices not only secure continuity but also reinforce their role as trusted stewards of family wealth and purpose.

Millennials and Gen Z are not passive inheritors of wealth. They can also be active wealth holders, entrepreneurs, and decision-makers. Their priorities, impact, transparency, and technology are already influencing how Family Offices must operate. Preparing now will ensure smoother transitions, stronger alignment, and long-term relevance across generations.

At Agreus, we work with Family Offices worldwide to adapt their structures, governance, and talent strategies for the next generation of wealth holders. Speak to us today about how we can help.