Preparing the next generation to take the reins of a high-net-worth family’s assets is a perennial challenge. That’s why many financial institutions host those sophisticated “next-gen” weekends—think Ivy League recruiting meets a financial seminar—to educate and connect the future custodians of wealth.

But when it comes to the curriculum for those currently under 25, there’s a dangerous blind spot that is actively increasing your family’s cyber risk.

The Tech-Savvy Trap

This is the generation of “digital natives,” having lived their entire lives on devices and online. They’re comfortable with every new app and platform. The misconception? That because they are tech-savvy, they must also be privacy-savvy and cyber-aware.

Nothing could be further from the truth.

This rising generation has lived an open and online existence. Their credo is: If it wasn’t photographed and shared, it didn’t happen. They routinely share their location, event pictures, selfies, preferences, fears, and celebrations with the world.

To a hacker, this isn’t just noise—it’s literal gold.

The New “Holy Grail” of Hacking

Historically, the “holy grail” for an attacker targeting a wealthy family was gaining access to an email account. That gave them a narrow view into the flow of information, allowing them to pull off financial heists—from redirected wire transfers to fraudulent refund requests—based on what little they could glean about personalities and preferences. And they’ve been incredibly successful with that narrow sliver of data.

Now, imagine what a hacker can do when they have years of deeply personal, contextual, and qualitative information—everything an 18-year-old posts online.

Every shared preference, every check-in, every opinion is a data point that helps a scammer craft a perfectly personalized attack. The more a hacker knows, the more flexible, creative, and utterly convincing they can be.

This is the future you are preparing for: a world where a hacker has a lifetime of your child’s data, potentially combined with deepfake technology, to perfectly impersonate them or others to execute a devastating financial fraud.

The Proactive Step Family Offices Must Take

You need to pivot your educational focus now. Don’t assume the next generation’s comfort with technology equals competence in security.

The family office staff must be proactive. You need to educate the next generation, not just about balance sheets, but about hackers:

  • How they work
  • What information they find helpful
  • Where they are looking online
  • What must be avoided to minimize their chances of becoming the ultimate victim

Your financial defense is only as strong as your weakest, most publicly shared link. 

The BlackCloak Solution

BlackCloak secures the personal digital lives of high-net-worth individuals and their families, tailoring specialist technology to deliver solutions that protect the privacy, devices, and homes of clients from cyber threats. Trusted by private family offices, the BlackCloak Platform is an award-winning cybersecurity solution enhanced by concierge expertise for holistic support 24/7. With BlackCloak, high-profile individuals get peace of mind knowing their family, privacy, reputation, and finances are secured. 

Visit https://blackcloak.io/family-offices/ to learn more.