Family offices are at a turning point. With one-third expecting to transfer control within five years, a new generation is stepping into leadership just as $124 trillion shifts hands from Baby Boomers to Gen X and Millennials. This convergence is creating new demands for family offices as they prepare for generational transitions.
Molly Baumberger, CFP®, senior wealth manager at Eton Advisors, was featured in a recent CIO Market Moves article discussing how family offices are professionalizing in response to this shift. She notes that families increasingly expect their advisors to have established networks of multidisciplinary professionals and the ability to help them prepare for leadership transitions.
Baumberger shares that Eton serves as the family office for multi-generational families, providing integrated oversight across investments, tax and estate planning, family governance, philanthropy, risk management, financial reporting, and day-to-day administration. By coordinating the family’s broader network of advisors, strengthening communication and decision-making across generations, and preparing rising family members for leadership, Eton helps families steward their wealth with continuity and purpose—while recognizing that “the next generation are learners” as they step into something new.
