Canadian Family Offices
By Peter Kenter
August 6th, 2026
New book “Squandered: How Not to Succumb to the Third-Generation Curse” explores strategies families can employ to avoid the third-generation curse of squandered wealth
The “third-generation curse” is a concept that spans cultures and centuries. In essence, it goes like this: first generations build wealth, second generations enjoy it, and third generations destroy what’s left. But the decline isn’t inevitable.
Canadian Family Offices spoke with Foster Family Office’s portfolio manager and chief executive officer, Christopher Foster, and portfolio manager Victor Todorovski, who recently co-authored Squandered: How Not to Succumb to the Third-Generation Curse.
The book highlights fictionalized case studies of all-too-real challenges: businesses and family legacies brought low by poorly executed or non-existent succession plans, untimely deaths, sibling squabbles, and a lack of preparedness to manage either wealth or the family business.
