Ausbiz | Why Wealth Often Fails by the Third Generation
Appearing on Ausbiz, Peter Leggett discussed how Australia’s multi-trillion-dollar wealth transfer requires families to rethink traditional succession planning. With wealth increasingly tied to business assets, property and investment portfolios, Peter emphasised that today’s most successful families begin with a values-first approach, defining purpose, expectations and stewardship well before assets change hands.
Peter noted in the interview that poor communication remains the leading cause of wealth loss by the third generation. Families who establish structured dialogue, embed financial literacy early, and involve younger generations in philanthropic or strategic decision-making are better positioned to preserve both capital and family cohesion. A proactive, purposeful approach not only safeguards wealth but strengthens the intergenerational relationships that support it.
