Wealth management firms are racing to meet new transparency requirements around data usage and fees, flooding clients with disclosure documents and compliance updates. Yet one Westport advisor argues that the industry’s real transparency crisis runs far deeper than paperwork.
The fundamental challenge, he says, is fragmentation, not forms. Families can read every disclosure and still have no visibility into whether their advisors are effectively communicating with each other or working at cross purposes.
Michael Gold, founder and CEO of Gold Family Wealth in Westport, Connecticut, built his practice around solving what he describes as the most persistent problem in private wealth management: Even families with resources are frequently surrounded by highly credentialed professionals who operate independently, creating blind spots, misaligned incentives, and missed opportunities.
When advisors don’t coordinate, families lose transparency into how the pieces of their financial life fit together. The issue isn’t lack of expertise. It’s a lack of coordination.
When Competence Isn’t Enough
Gold points to a troubling pattern he’s witnessed throughout his 25-year career. In many cases, families receive technically sound advice from specialists who never communicate with each other. Estate attorneys draft documents without thoroughly consulting the CPA. Investment advisors build portfolios without understanding the nuances of the business succession plan. Tax strategies get implemented without carefully considering philanthropic goals.
“You have to look under the hood. You have to look at every aspect to see if there are any gaps, and if so, how severe they are, and what are the solutions to address them,” Gold says.
This fragmentation creates what industry observers call the advisory coordination gap. Without coordination, families can’t see conflicts between what their estate attorney recommends and what their tax advisor implements. They can’t identify gaps between investment strategy and business exit planning. To address the gap, firms are rebuilding around transparency, trust, and compliance principles, recognizing that proactive coordination reduces risk while strengthening confidence in advisory relationships.
The stakes get higher with wealth complexity. Close to three-quarters of privately held business owners expect to transition or exit within the next decade, representing an estimated $10 to $14 trillion in potential exit-related wealth. Yet many remain unprepared because their advisors are not in consistent communication.
The Orchestration Model
Gold’s solution centers on what he terms “orchestration, not accumulation” of advisors. Rather than adding more specialists to a family’s advisory roster, his Westport-based firm coordinates existing professionals into a unified strategy.
This approach has made Gold Family Wealth’s dedicated UHNW practice what he describes as “the intellectual engine of the entire organization.” The frameworks developed for complex families, including advanced modeling, enterprise risk mapping, and multigenerational governance, aren’t siloed. They elevate advisory standards across the firm by ensuring every specialist understands how their work fits into the broader wealth picture.
The coordination model addresses multiple failure points. Structural issues that could derail business exits get identified years in advance. Tax implications get stress-tested across different liquidity scenarios. Family governance frameworks align with estate documents. Philanthropic vehicles integrate with succession plans.
“People do not think about the end in mind early enough,” Gold notes, noting situations where business owners must delay sales by a full year to re-characterize assets and avoid excessive tax drag. These delays are often the result of planning that happens in isolated silos.
Industry Recognition and Client Selectivity
Gold’s emphasis on transparency through coordination has earned recognition. He was named a Forbes Best-in-State Wealth Advisor in 2025.
That recognition comes at a time when the entire wealth management industry is grappling with what transparency actually means. New regulations are demanding clear fee structures and transparency around AI-driven investment recommendations. Clients increasingly expect transparency around how their data is used, stored, and protected as cybersecurity becomes a value proposition rather than back-office function.
Gold argues these transparency measures, while important, address symptoms rather than root causes. “Access to capital is no longer limited. Access to good judgment is,” he says.
Families aren’t just seeking transparent fees. They’re seeking transparent thinking, where every advisor understands the complete picture and how their recommendations interact.
This selectivity is transforming competitive dynamics. Families ask pointed questions about responsibility, coordination experience, and sustained engagement through transitions. UHNW families want to know that advisors today will stay engaged tomorrow and that leadership understands their world firsthand.
The Westport advisor emphasizes that true transparency in wealth management means more than disclosure. It means ensuring families can see how all pieces fit together, who’s responsible for coordination, and what happens when circumstances change.
The result, Gold says, is “confidence about the decisions related to their financial future is born from knowing nothing has been overlooked.”
For families navigating increasing financial complexity, that level of transparency may be the most valuable asset their advisors can provide.
