Good communication is important in so many aspects of life, and family finances are no exception. However, due to the sensitive nature of the topic of money, sometimes the conversations we should have with family members do not occur. Ultimately, silence can be costly: studies show that 70 percent of family wealth transfers fail, often due to poor family transition planning and a lack of clear communication with adult children.1 A Family Wealth Meeting offers a structured, inclusive way to break that silence and build a foundation for long-term success.
What Is It?
A Family Wealth Meeting is a facilitated gathering designed to help families openly discuss topics that might go unsaid due to common fears and apprehension around those subjects.
Without structure, conversations about wealth often fail to happen—or happen too late. A Family Wealth Meeting can provide clarity and stability, encouraging productive conversation amongst multi-generational family members. It can help your family to vocalize its values, enhance trust, and create accountability, and in the case of younger family members, it also can provide an opportunity to connect and educate.
When Is the Right Time?
Regardless of your stage of life or family makeup, the longer you wait to be transparent with your wealth, the harder the conversation will be. Here are some questions to ask yourself; if you struggle to answer any of them, it may be time to schedule a Family Wealth Meeting with your financial professional.
- Do you currently talk about money and financial responsibility with your family? If so, how?
- How do you define wealth? How do your children and grandchildren define wealth? Do you wish these would align?
- What do you want your legacy to look like? What are your hopes or concerns for your family?
- How do your family members define success?
- If business succession is a factor in your family: How do you envision your exit strategy? What role does your family play?
If you do decide this would be a wise choice for your family, this meeting allows your family to make a point of sharing news, concerns, opportunities, and challenges on an annual basis, while working to preserve wealth as the family expands.
Working alongside a financial professional, together you can develop a tailored education plan and roadmap for the future, ensuring that everyone is on the same page.
1 Bridging Generations: Transitioning Family Wealth and Values for a Sustainable Legacy, 2017.
This material is being provided for educational and informational purposes only. D.A. Davidson & Co. is a registered broker-dealer and registered investment adviser that does not provide tax or legal advice. Information contained herein has been obtained by sources we consider reliable but is not guaranteed and we are not soliciting any action based upon it. Any opinions expressed are based on our interpretation of the data available to us at the time of the original article. These opinions are subject to change at any time without notice. Copyright D.A. Davidson & Co., 2026. All rights reserved. Member FINRA and SIPC.