Built to last: How Multigenerational Families Steward Wealth Over Centuries
Article by Peter Roach OAM – JBWere Family Advisory | June 2026
Much has been written locally and globally about the “great wealth transfer” that is expected to occur over the coming decades. In Australia, the issue gained prominence with the release of a 2021 Productivity Commission report titled “Wealth transfers and their economic effects”, estimated that around $3.5 trillion could be transferred by 2050. The Bequest Report released by JBWere in 2024 revealed a higher figure of around $5.4 trillion. The latter number is a cumulative estimate of transfers over time, rather than the value of assets held at any single point – an important theme in this discussion.
This is not to challenge the scale of wealth expected to move across generations, but rather how that movement is understood and experienced in practice.
"I wrote “The Great Wealth Transfer Myth” to dispel the notion that Family Enterprises have a limited life. I wanted to challenge the cliched view in Australia that significant wealth rarely lasts beyond three generations. By taking the example of successful European families, I hope we can have a shift in mindset to understand that stewardship of wealth is a process which transcends the death of a family member and which ensures continuity of the family legacy.”
- Peter Roach | OAM | Senior Consultant, JBWere Family Advisory
“The family never sees the value of the equity because that gets passed on. We see ourselves simply as a steward of that equity as it moves from one generation to the next.”
- H Fisk Johnson, CEO of S.C. Johnson & Son
This article is general information only and does not take into account your personal objectives, financial situation or needs. It does not constitute financial, legal or tax advice. You should consider the appropriateness of the information and seek professional advice tailored to your circumstances.