This article originally appeared in Business Focus in Jersey.
For many families in the Channel Islands, the transfer of wealth from one generation to the next is one of the most significant financial events they will ever face. But how many have had the conversations and have a well-defined plan in place?
Research by Ipsos[1] shows that while 80% of high-net-worth individuals plan to pass wealth to their heirs, 27% don’t yet have an inheritance plan. The Society of Trust and Estate Practitioners (STEP)[2] estimates that only 44% of UK-based family business owners surveyed have had a conversation with family members about succession wishes for assets following their death, with 27% avoiding talking about finances with family members altogether. With more than £7 trillion expected to pass to the next generation over the next 30 years in the UK[3], these conversations are more important than ever.
These figures underscore that we are in the midst of what is often called the ‘great wealth transfer’. But it is not just a legal and tax exercise and for those holding wealth, it requires careful thought about what they intend to transfer. Is it simply financial assets, or does it include a business, real estate, trusts, philanthropic commitments or a mix of all these?
Just as importantly, how can they hand it over smoothly while preserving the essence of what they have built and ensuring the next generation is prepared to manage what they receive? Research[4] shows that nearly 30% of family offices cite the next generation as ‘unqualified’ or not yet prepared to manage the transition of wealth. A well-structured ongoing conversation about leadership and continuity can prevent shocks later and help ensure that both family harmony and business stability are preserved.
Clear and honest communication is essential. Inviting younger generations into financial discussions early helps them understand both structures and responsibilities. Equally important is liquidity planning, ensuring assets can be accessed when needed and preventing the rushed decisions that often undermine long-term value.
When discussing the transfer of wealth, the role of a credible, experienced wealth manager becomes especially relevant. This is not simply about selecting investments, it is about coordination to ensure the best outcome for a client and their heirs. By bringing together legal, tax, trust and investment specialists, and then looking holistically at estate, business and investment planning, wealth holders can prepare effectively and ensure the next generation is properly engaged. A good adviser acts as both a sounding board and a bridge, helping families translate intentions into actionable, practical plans.
Jersey’s financial ecosystem is well-suited to multi-generational planning. The island has developed a reputation for trust, stability and professional expertise and its robust legal and regulatory framework gives confidence that family structures are governed with integrity and transparency.
Importantly, Jersey’s scale encourages collaboration among advisers, trustees and investment managers, allowing families to manage complex affairs in one jurisdiction with consistent oversight.
Earlier this year, Titan Wealth announced the acquisition of Advisa Wealth in Jersey. Advisa will rebrand on 1st December and relocate to the Titan Wealth offices in Liberation Square in early 2026. This enhances the service that we, as a company, can offer to islanders considering the transfer of wealth.
We can now assist in designing investment portfolios aligned with the needs of a wealth transfer, ensuring both preservation of capital and availability of cash for potential tax, philanthropic or business handover needs. We can help the older generation articulate not only the ‘what’ they are passing on, but also the ‘why’ and the ‘how’.
So, what can the next generation do to prepare themselves to receive the baton? Inheriting wealth offers both opportunity and responsibility, so it makes sense to engage early and learn from parents, grandparents and their wealth manager. Questions to consider include: is the investment portfolio active or passive? How was it constructed? What is the investment risk? Do you want to preserve or grow the inherited wealth? How do your beliefs differ from the older generation and from others who will inherit alongside you?
A trusted wealth manager with a strong track record, local experience and global investment capability can help knit together all of these moving parts. Titan Wealth’s Channel Islands team has more than 20 years’ experience helping families preserve and grow wealth today, while ensuring a smoother handover tomorrow.
If you’d like to know more about how Titan Wealth can plan for the transfer to the next generation, please feel free to contact us and one of the team will be happy to help.
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