Why does family wealth diminish across generations—and what can you do to make it last?

Passing wealth from one generation to the next involves more than investment decisions. As families grow, their members may develop different views on risk, spending, philanthropy, and what their wealth should accomplish. The challenge is not to eliminate those differences, but to make decisions together despite them.

In this episode, host Willis Wilson sits down with Sam Bruehl, Co-Founder and Partner at Generation Transition Advisors, and Nicole Nava, Senior Investment Director in Cambridge Associates’ Private Client Practice.

Together, they discuss why relationships and governance matter alongside investment performance. They discuss what happens when a portfolio built for a wealth creator no longer fits the family it serves, and why preparing the next generation is an ongoing process—not a single handoff.

This podcast episode covers:

How family dynamics can affect the long-term stewardship of wealth
Why generations may see risk, liquidity, spending, and philanthropy differently
How to spot when a family’s portfolio and decision-making structures may need to evolve
The practical structures and habits that can help families preserve wealth across generations
Actionable lessons to help prepare the next generation

Cambridge Conversations is developed in partnership with PRX, an award-winning podcast media company.

Cambridge Associates is a global investment firm that works with endowments, foundations, healthcare systems, pension plans, and private clients to implement and manage custom investment portfolios that aim to generate outperformance and maximize their impact on the world. Cambridge Associates delivers a range of portfolio management services, including outsourced CIO, non-discretionary portfolio management, staff extension, and asset class mandates.

Why Family Wealth Fails (and How to Make It Last)

Cambridge Conversations

Why Family Wealth Fails (and How to Make It Last)