Nice one. Some improvements would be not to cut off the hands, feet etc. Shoot little loose for that. And if you have the space, move subjects away from bg so that you can blur out those wrinkles.
My first impression is nice happy family. You guys do seem well connected. I do think there are some technical issues with the picture though. First I don't really like the BG. If you are going to use it you should move away so that it is darker. I like the lighting on the faces. clean and simple. second issue is the crop. You could crop tighter so not to have the cut off fingers and wrists. I'm not sure what the focal length was but your hands look big to me. One last small thing is that your wife and oldest daughter's eyes are almost on the same plane. typically it is a little better if eyes are not on the same plane.
I do want to say that I do like the image and would be happy to send it out. Everyone will see a beautiful happy family.
Thanks for the suggestions everyone. I like the crop better too. As for the bg, I understand that too. It's a small studio space so getting distance between the subject and bg is hard. I was shooting at pretty small aperture. A larger aperture may help put the bg out of focus more. I'll have to experiment with that.