42% of wealthy families yet to formalise succession plans, only 36% have documented roadmaps

A recent survey by Grant Thornton Bharat & Entrust Family Office finds that 42% of families have broad alignment on succession but no formal roadmap, while 46% seek to diversify income beyond their primary business.

India's wealthy families are increasingly looking beyond the preservation of inherited wealth towards diversification, professional management and structured succession, but formalising leadership transitions remains a challenge, according to a joint survey by Grant Thornton Bharat and Entrust Family Office. Only 36% of families surveyed have a clear, documented succession plan, while 42% have broad agreement on succession within the family but have yet to formalise it. Another 16% remain in discussions without clarity on the way forward, while 6% said succession was not currently a priority. The findings are based on qualitative conversations and interviews with family business leaders and wealth custodians across generations, representing wealth ranging from approximately ₹100 crore to ₹10,000 crore. The survey noted that families are increasingly treating succession as an ongoing process involving preparation, alignment and continuity, rather than a one-time transfer of ownership or leadership. Advt

Wealth preservation remains a priority, but diversification gains ground While preserving family wealth, values and continuity remains the dominant priority, families are increasingly looking to diversify beyond their core businesses. Nearly 78% of respondents identified wealth preservation and continuity among their long-term priorities, while 46% said they wanted to grow or diversify income beyond their primary business. The survey mentioned that 38% of families also prioritised building a legacy beyond financial returns, while 30% each identified institutionalising the family office and expanding global exposure and cross-border opportunities as long-term priorities.

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