When Doug Regan’s clients imagine passing their wealth on to their heirs, they often experience two emotions: Fear and anxiety. “Fear and anxiety that the money will negatively impact, or not positively impact, [on] their children and grandchildren; fear that money will take away the human driver of achieving success through hard work,” says the Northern Trust executive.

In an era when the proclivities of dilettantish young heiresses are laid bare on the internet, it is unsurprising that many of the ultra-wealthy are experiencing such emotions.