A crucial part of the process of course is having a panel of expert judges with the experience and knowledge to assess the entries. We will therefore be profiling the judges taking part in coming weeks.

Here is Dr Dennis Jaffe, who has been helping families manage the transfer of businesses, wealth, values, commitments and legacies between generations for over 35 years. Dr Jaffe has been professor of organizational systems and psychology at Saybrook University in San Francisco, CA, since 1981.

"I look at the field from the standpoint of an advisor who is looking at the family who holds the wealth. What I see is exciting and heartening. Financial and legal advisors are increasingly going beyond seeing their services as delivering the product to the client, in the direction of taking a longer-term, deeper and broader view of their client," Dr Jaffe said. 

He added: "They are asking the client not just how much wealth they want to accumulate, but what they want from it, and what impact they want to have on their children and heirs. They see wealth management as engaging the whole family in looking toward the future, and creating a roadmap for achieving their long-term goals, and developing 'capital' not just in financial terms, but in terms of family, individual, societal and spiritual goals. I find that advisors are increasingly developing their skills and awareness of these broader goals and helping the family focus on their varied goals as they move across generations."