By Craig Keary, CEO of Selfwealth

As part of this six-part series with the Australian Shareholders Association, Craig Keary, CEO of Selfwealth, has explored a range of intergenerational wealth topics using a new framework: FAMILY.

Each letter in this framework reflects a critical element of successful wealth transfer across generations. Now, as we reach the final instalment, we turn to ‘Y’ – Year-round collaboration.

At a time of increasing financial complexity, the enduring value of professional advice cannot be overstated. Yet, when it comes to managing family wealth, too many Australians still treat advice or professional assistance as a once-off event – something to engage with only during major milestones or at tax time. But true legacy-building requires more than a single conversation.

The case for continuous engagement

Year-round collaboration is about maintaining an ongoing, proactive relationship with your adviser or advisers. Your team may include a financial adviser, accountant, lawyer and any other relevant trusted professional advisers. This dynamic approach allows families to make informed decisions, respond to change with confidence, and plan strategically for the future – not just reactively.

There are many benefits to this continuous approach:

• Proactive planning helps families stay ahead of potential financial challenges or legislative changes.
• Risk management becomes more effective when reviewed regularly and tailored to evolving circumstances.
• Wealth growth and tax efficiency can improve through ongoing portfolio optimisation and timely tax planning.

Put simply, collaboration throughout the year ensures the strategy doesn’t stagnate, and that your financial goals and objectives can stay on track.

Why it matters now more than ever

As Australia’s largest intergenerational wealth transfer continues to unfold, families are navigating everything from increased costs of living and market volatility, to complex inheritance arrangements and evolving family dynamics.

Advisers who understand the full context of your financial life can help you:

• Adapt to market changes: Frequent check-ins mean your investment strategy stays aligned with shifting economic conditions.
• Optimise tax outcomes: Regular guidance helps avoid rushed end-of-year decisions and ensures compliance is embedded in your financial plan.
• Manage transitions: From retirement planning to business succession, or receiving an inheritance, consistent advice supports smoother transitions through major life changes.
• Ensure your estate planning is up to date.

Key areas of ongoing engagement

Maintaining an active relationship with your advisers throughout the year allows you to address core areas such as:

• Quarterly financial reviews to track progress and adjust where needed.
• Tax and superannuation planning to make the most of available concessions and ensure long-term efficiency.
• Risk and insurance management to provide adequate protection for you and your family.
• Estate and succession planning to ensure your wishes are clearly documented and reviewed regularly.

Building a strong adviser relationship

Choosing the right advisers is the first step. Look for someone whose expertise aligns with your needs and whose values resonate with your family’s long-term goals. From there, the relationship should be built on trust, transparency and shared accountability.

Set regular check-ins – quarterly or at least every six months – to keep your plan active and visible. You can also speak to your financial adviser about leveraging digital tools to stay connected and informed in real-time.

Finally, consider involving other professionals – such as your accountant or estate lawyer – to create a coordinated, holistic approach to managing wealth across generations.

Looking ahead

As we’re at the end of this FAMILY series, it’s clear that successful intergenerational wealth transfer is not a destination, but an ongoing journey that requires a considered and steady approach. And as the final piece of the puzzle, year-round collaboration ensures that the wealth you’ve built is not only protected but continues to grow and evolve with your family.

This article is brought to you by Selfwealth, a proud partner of the Australian Shareholders’ Association.