We have all heard the statistics that 70% of wealth transfers to the next generation fail. When this moves past 2nd generation and into the 3rd generation and beyond, this failure rate is above 90%.

Brad Scott, Founder and Managing Director of Australia’s first independent Multi-Family Office, EWM Group, discusses the risks involved in not preparing the next generation for the roles and responsibilities that lie ahead in a family business, and the recommended steps to take.