Reflecting on: The Expert Generalist — The Most Valuable Seat in the Family Office Podcast
Oct 8, 2025
I listened to a UHNW Institute podcast recently on the evolving role of advisors in generational wealth. It was thoughtful, well-paced, and it got me thinking about what we’ve built at Waugh McDonald, especially for our Private Office clients.
The episode explored stewardship, long-term thinking, and the shift from technical advice to relational depth. These aren’t just ideas we admire. They’re the reality of our work. They show up in how we design structures, how we engage families and how we help them make decisions that last.
We’re not here just to manage money. We’re here to help families structure meaning.
What We Actually Do
We’ve been operating as expert generalists since the beginning. That role came through clearly in the podcast, and it’s exactly how we’ve built our practice. Our foundation is financial planning and investment management. But our real value lies in how we integrate that with governance, learning, succession and purpose.
Wealth structuring isn’t just about where the money sits. It’s about what the structure owns and where it owns it. It’s about how decisions are made and by whom. It’s about tax and legal compliance across jurisdictions. And it’s about succession, how the next generation steps in and how values and responsibilities are passed on.
We help design, build, implement and administer these systems. They’re sophisticated, but we keep clarity and simplicity at the core.
We’ve built family wealth funds with subaccounts for retirement, education and contingency. We’ve embedded rhythms, family councils, assemblies, learning and philanthropy committees and annual advisory meetings that institutionalise communication and decision-making.
We’ve created mechanisms for intergenerational governance, values articulation and conflict navigation. Not because it’s fashionable. Because it’s foundational.
Families need rhythm, structure, and shared language to make decisions that last. Without that, even the best investment strategy isn’t going to meet real needs.
What This Work Requires
This work takes time. It takes energy. It takes emotional bandwidth. It requires us to think across generations, jurisdictions and disciplines. It’s not transactional. It’s not surface-level. It’s not quick.
And it only works when families are ready to engage with rhythm, trust and shared authority. When they value the structure, use the tools and respect the process.
We’ve seen what happens when that readiness isn’t there. Advisors get overruled, sidelined or nickel-and-dimed. The structure gets ignored. The rhythm breaks down. And the legacy becomes vulnerable. These are often the unintended consequences of wealth, where ego, urgency or misplaced confidence cloud judgment. The wise recognise this early. They find advisors they trust and they value the relationship.
After ten years of delivering this work, we’re very clear on what works. We’ve earned the experience to spot when things are going wrong. We see the system from outside, and that perspective matters.
We hold proper credentials. We’re CFWA and CFBA certified with the Family Firm Institute. We’re certified to facilitate FEAT and Values Edge 2.0. We’ve built our practice with intention. We’re committed to preserving its integrity so that the families we serve receive the depth, clarity and care this work requires.
The Interconnected Nature of Family Systems
One of the things the podcast touched on and something we live every day is how interconnected everything is. In our 8 Elements Framework, a change in one part of the system affects everything else.
We were already delivering integrated wealth management. What FFI gave us was language and structure for what we were already doing systems thinking. It helped us see even more clearly how ownership, governance, succession, investment, tax, learning, liquidity and purpose are all part of one living system.
You can’t adjust ownership without considering governance. You can’t update succession without revisiting tax and legal. You can’t shift investment strategy without thinking about liquidity, education, and retirement planning. You can’t introduce new rhythms without reworking communication and decision-making.
Changes in leadership, for example, trigger a cascade of considerations, cashflow planning, strategic asset allocation, investment policy, learning and nurturing, reporting structures and more. The elder generation may need more clarity, simplicity and reassurance. The rising generation may need space, structure and support. It goes both ways.
This is the work of the expert generalist. Holding all of it. Thinking across all domains. Seeing the ripple effects. And helping families make decisions that are aligned, integrated, and enduring.
Why It Matters
The families we work with are progressive. They care about doing things right. They understand that wealth without structure is fragile. That legacy without stewardship is fleeting.
They want frameworks that reflect their values, protect their capital and support their purpose across generations.
We’re inspired by the UHNW Institute’s 10 Domains, the Family Firm Institute, and the work of Jay Hughes, Dr. Dennis Jaffe, and others who’ve shaped the field of purposeful wealth. We align with Wealth 3.0, which calls for a more integrated and human-centred approach to advising families.
We benchmark our work against world-class standards. Not to compete. To ensure our clients receive the highest level of care.
We’re not trying to be everything to everyone. We’re building a practice that is world-class for those who care deeply about doing things well.
If you’re building something that matters, speak to us about helping you structure it well. Connect with our team at info@waughmcdonald.co.ke.
John McDonald
Director
