Preserving Multigenerational Wealth | TIGER 21 Chair in Crain Currency

TIGER 21 Chair Ron Diamond, who leads two Chicago Groups as well as a Family Office Group, was featured in Crain Currency sharing insights on the power of peer networks in preserving multigenerational wealth. 

He notes that while many families excel at building wealth, far fewer succeed in sustaining it. Only 25% of family offices survive into the second generation, 10% into the third, and just 5% into the fourth. The real challenge is not taxes or markets, but the absence of governance, shared values, and prepared successors. 

Only 25% of family offices survive into the second generation, 10% into the third, and just 5% into the fourth.

Families that thrive treat their offices as living institutions, embedding structure, education, and continuity. In the absence of a playbook, genuine peer connections provide something consultants cannot: trusted, battle-tested insights. From avoiding succession crises to aligning next-generation priorities, peer networks offer the resilience and continuity that wealth alone cannot secure.  

The next generation is also reshaping priorities, demanding transparency, accountability, and measurable impact. Families that lean on peer wisdom are adapting most effectively, building institutions strong enough to endure generational change. As Ron puts it, capital is essential, but community is the multiplier. 

Read the full article.