Teaching Generosity: Nick Lalonde, CFP®, CEPA® on Next-Generation Wealth Stewardship

In a recent LinkedIn post, Nick Lalonde, CFP®, CEPA® discusses the critical, yet often overlooked, role of involving the next generation in family philanthropy. Lalonde, a Certified Financial Planner and Certified Exit Planning Advisor, highlights a common scenario among the wealthy families he advises: a deep commitment to giving, often executed quietly and significantly, but with a notable absence of their children in the process.

Lalonde observes the prevalent hesitation among parents to involve their children in these philanthropic endeavors. He notes the understandable desire to shield them from perceived burdens and to allow them to experience a “normal” childhood, with the intention of introducing them to giving later in life.

“I understand the instinct. You don’t want to burden them. You want them to grow up normal. You’ll bring them into it later, when it matters more.”

However, Lalonde argues that this delayed approach misses a crucial window of opportunity. He emphasizes that the formative years are precisely when these lessons are most impactful. The conversations surrounding charitable giving—the ‘why’ behind the donations, the family’s core values, and the decision-making process for allocating financial resources—are foundational to how the next generation will ultimately manage significant wealth and assets.

The Imperative of Early Engagement in Philanthropy

The insights shared by Lalonde underscore the idea that true stewardship of wealth extends beyond financial management to encompass the values and responsibilities associated with it. He posits that the skills and understanding required to manage inheritances, family businesses, and important family decisions are not acquired through passive observation or later instruction.

“The conversations about why we give, what we stand for, how we make decisions about money together — those are the conversations that shape how the next generation will eventually handle everything else.”

According to Lalonde, these vital discussions and the development of responsible decision-making capabilities can only occur through hands-on experience. He advocates for an environment where the next generation engages with philanthropy using “real money, real causes, and real stakes.” This practical application, he suggests, is irreplaceable by any theoretical classroom setting.

Building a Legacy of Generosity

Lalonde further elaborates on the practical implications of this philosophy. The skills honed through active participation in family giving—such as strategic decision-making, understanding impact, and collaborative problem-solving—directly translate to managing other significant family assets and responsibilities.

“You can’t teach that in a classroom. It only happens at the table, with real money, real causes, and real stakes.”

To assist families in assessing their readiness for intergenerational philanthropic engagement, Lalonde has developed a concise scorecard. This tool, designed to be completed in approximately three minutes, consists of eight questions. The results provide families with a personalized “conversation kit,” offering specific questions to discuss and a structured 30-minute agenda to facilitate productive family dialogues about giving.

Lalonde’s post serves as a compelling call to action for families of wealth, encouraging them to proactively integrate their children into their philanthropic activities to cultivate a lasting legacy of generosity and responsible wealth stewardship.