Passing wealth across generations is one of the oldest challenges in financial planning. Doing it well, across multiple generations, with complex business assets, estate structures, and family dynamics in play, is something far fewer advisors are equipped to handle. Michael Gold of Westport, Connecticut has made multigenerational governance a cornerstone of how Gold Family Wealth approaches ultra-high-net-worth planning.
The Generational Transfer Is Here
The numbers framing this moment are large. The Great Wealth Transfer is expected to peak around 2026, with between $84 and $120 trillion projected to shift across generations over the next two decades. Business owner transitions alone represent an estimated $10 to $14 trillion in assets moving through liquidity events over the next ten years. For families without a clear governance structure in place, these transitions carry considerable risk.
Michael Gold Westport describes the advisory capacity required to serve families through these events as something that cannot be templated or automated. “UHNW clients operate within a highly complex ecosystem, one influenced by legacy goals, intricate family dynamics, multigenerational coordination and the natural uncertainty of managing personal and business wealth,” he says. His Westport firm was built around the premise that effective multigenerational planning requires dedicated human judgment at every stage.
Building Teams That Last
Across the wealth management industry, firms are beginning to respond to generational transition risk by hiring younger advisors and building what some call multigenerational teams, advisory groups designed to maintain relationships with clients across generations rather than losing them during transitions. Michael Gold has taken a similar approach at the Westport practice, emphasizing continuity of relationship and leadership as central to the firm’s long-term value to clients.
His partnership with Carson Partners reinforces that continuity, providing institutional infrastructure and planning capabilities that extend the firm’s capacity without requiring clients to change relationships or rebuild trust with a new set of professionals. Refer to this article for related information.
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