How to Turn Family Wealth Into Legacy Using Shared Values & Structure | The Family Biz Show Ep. 121

In this episode of The Family Biz Show, family business consultant Michael Palumbos is joined by Shawn Barberis of More Than Money 360 to explore how high-net-worth families can protect and grow their family wealth by focusing on communication, values, and legacy—not just dollars. Together, they unpack proven strategies to strengthen generational continuity, including the five pillars of success and six laws of family advancement.

1. Shawn's Journey & "More Than Money" (02:23–08:18) Shawn shares why he left law to launch a firm focused on the relational and cultural side of legacy. He realized families needed more than documents—they needed systems to protect family wealth through values, communication, and structure.

2. Perception vs. Reality of Risk (14:53–17:00) Most families fear market loss, but data shows 85% of wealth loss stems from broken trust and poor communication. Shawn highlights why this mindset shift is crucial to family legacy.

3. The Engagement Process (19:10–21:05) A 3-step approach: educate the family, define the legacy goal, and build a values-based plan. Legacy is built through process—not a single event.

4. Five Pillars of Generational Success (23:10–27:26) The foundation of enduring family wealth: communication, core values, family legacy, philanthropy, and governance—all working together to sustain family purpose and identity.

5. Six Laws of Family Advancement (29:27–35:42) From gratitude over entitlement to rising gen empowerment and transparent meetings, Shawn shares six laws that help families sustain wealth and legacy long term.

6. System, Process & the MTM Meter (37:29–41:19) Shawn introduces the More Than Money Meter—a tool that tracks how prepared and satisfied families are across the five pillars. As he says, "You can't improve what you don't measure."

Tangible Takeaways for Leaders of Family Businesses

• Realize that the biggest threat to your family's lasting wealth is likely not the markets — it's breakdown in communication, trust and shared purpose.

• Use a process, not just an event: Begin with the end in mind, build curriculum, set outcome criteria.

• Prioritize the rising generation early: Give them voice, let them lead in meaningful ways, particularly in areas like impact investing or philanthropy.

• Use measurement: As you would for a business strategic plan or financial plan, set baseline, track progress in communication, values, legacy and governance.

• Consider your advisor ecosystem: One "quarterback" advisor who understands the family, across generations, often provides better continuity than multiple siloed advisors.