The next generation cannot protect wealth they were never prepared to manage

Preparing the Next Generation for Wealth: governance, fiduciary duty and family roles

Many families assume children will learn financial judgement simply by growing up around wealth, yet access to money does not create the confidence, knowledge or emotional maturity required to steward it. The risks become visible when family members inherit board seats, trusts or ownership stakes without understanding governance, fiduciary responsibility or the expectations attached to their role. Mercy examines how different positions within the same family, from the child running the company to the sibling who has rejected the family business, shape how responsibility is understood. Her insight helps families move beyond teaching financial literacy and begin preparing the next generation for the relationships, power and accountability that wealth creates.

About Mercy Burton Russell

Mercy Burton Russell, podcast guest

Family Systems Psychotherapist, Consultant & Intergenerational Wealth Dynamics Specialist

40 years Psychiatry, therapy, education and consulting32 years Study of Bowen Family Systems TheoryMSW, EdD Doctorate in Educational Policy and LeadershipClinical training UCLA

Mercy Burton Russell helps families understand what happens when money, property, responsibility, and family relationships become entangled. Trained as a psychotherapist and specializing in multigenerational family systems, she works at the point where technical planning meets the emotional life of a family.

Mercy’s expertise is shaped through clinical training at UCLA, postgraduate study in Bowen Family Systems Theory, doctoral study of leadership and decades of work with individuals, families, and organizations.

Early in her career, she studied with Dr. Ann Bunting before continuing her training at the Bowen Center for the Study of the Family. Bowen theory is the foundation of her clinical practice, leadership and organizational consultation and international speaking. She works with a rigorous framework for understanding how anxiety, conflict and responsibility move through families across generations.

Her focus on wealth transfer developed from observing how financial anxiety reflects family dynamics. Investments, trusts, inheritance and ownership decisions rarely remain technical matters. They are shaped by loyalty, identity, sibling relationships, marriage and expectations carried across generations. Firsthand, she has experienced different family cultures around wealth. Her insight into underlying relational patterns predicts and corrects conflict emerging from even the strongest financial and legal planning.

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