India is entering a major phase of intergenerational wealth transfer, with an estimated $1.3 trillion-$1.5 trillion expected to change hands over the next decade, creating a larger pool of family-office and alternative investment capital, according to a Julius Baer-EY report. This transfer is coming at a time when family wealth is becoming increasingly institutionalised. Family offices are moving away from founder centric decision making towards formal governance, setting up investment committees, family councils and advisory boards and hiring chief investment officers, chief financial officers and risk managers.