The family champion

Exploring their critical role in protecting family wealth

Authored by the Merrill Center for Family WealthTM


In many affluent families, wealth creators are concerned about structuring wealth for future generations. The greatest risk to family wealth is actually the family itself, often through conflict or overspending. Taking steps to protect this wealth can be a difficult but important task — and deciding who will manage it can be just as difficult. This is where identifying a “family champion” can come into play — a competent leader whom family members trust to be unbiased and focused on stewarding the family culture, to ensure the family's long-term success.

At the Merrill Center for Family WealthTM , we use our experience helping families navigate the complexities of wealth to bring attention and understanding to the crucial role of the family champion. The Center’s whitepaper, The critical role of the family champion, draws from the direct experiences of two families in need of a champion — and how this person emerged into the role of keeping the family’s best interests in mind, while also protecting their wealth. This piece also highlights the typical characteristics of a family champion, ways they can act as an impartial liaison between family members to promote unity, strategies to address challenging situations and how family members can support their family champion.

If you’d like to receive support as a family champion or feel like your family may need help identifying a family champion, contact your Merrill private wealth advisor, who can connect you with the Merrill Center for Family WealthTM .

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