To continue our efforts to provide effective and practical thought leadership to clients and the financial industry as a whole, Clearstead will be hosting a third ClearPoint Roundtable Discussion on September 12th at the Shaker Heights Country Club. We will once again bring together professionals in the financial services industry to discuss the challenges and best practices for transitioning family wealth to the next generation.



The greatest wealth transition in history is under way. According to the Boston College Center on Wealth and Philanthropy (2014), beginning in 2007 and through the year 2061, there will be an estimated $59 trillion transfer of wealth from generation to generation. This wealth transfer comes from family businesses, personal investments, trusts, insurance proceeds, operating business, and various family asset pools (FLP, LLC). Though this transition has been well telegraphed for some time, many families and their advisors may not be prepared to navigate this financial tidal wave.

Significant changes in technology, social media, IRS and state rules governing wealth transition, dynamics of corporate trustees, and emerging societal trends add complexity to these transitions. Moreover, there seem to be generational differences between wealth creators and those inheriting wealth. Some wealth creators indicate wealth was easier to build than to transfer; often younger generations cite privacy concerns, lack of financial communication, control issues, being ill-prepared to operate a family business, and assuming trustee responsibilities for which they were not prepared.

A particular focus has been on the Millennial generation, which is the largest ever, and might have significantly different views on wealth and society than their earlier generations. Fortunately, wealth transfer is not new, and our panel of professionals have experience navigating these challenges.

The central questions we want to address are: Will inheriting generations remain different from earlier generations in their approach to wealth and investing? How will technology, the rise of ESG investing, and social consciousness affect wealth transfer? What will be the effect of Millennials and Generation Z behind them on the trends of wealth? Is transferring an operating business to future generations different than transferring financial assets, and if so, how do families prepare? How do communication and family governance play into this? How are family charitable aspirations changing?




  • Mr. David Osborne, DAO Advisors


  • Mr. Joe Verciglio, Partner, Baker Hostetler
  • Mr. Bill Karnatz, President, Western Reserve Trust Co.
  • Mr. Jeffrey Wasserman, Managing Director and Executive Vice President, Oswald Specialty Life and Oswald Companies
  • Mr. Joseph Juster, Partner, Calfee Halter
  • Ms. Kate Biggar, Vice President, KeyBanc Capital Markets
  • Mr. Greg Althans, CPA/PFS, CFP®, Senior Managing Director & Chief Wealth Strategist, Clearstead Advisors, LLC.
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