Research into the roles of grandparents in Britain shows three quarters of them are involved in their grandchildren's lives and contribute to their upbringing.
Parents aged 35 and over said their parents were seen as friends by their children while parents between 18 - 34 played more of a caretaker role.
In a poll commissioned by Age Concern and Woolworths, Welsh grandparents came out on top as advisors to youngsters in the family.
Parents with young children in Wales felt their own mum and dad were always on hand with advice and acted as tutors to their children.
Of the 2000 people surveyed across Britain, 171 were from Wales and one in five Welsh grandparents say they spend in excess of 20 hours a week caring for their grandchildren.
Role of grandparents in Britain
"Granparents play an important role in Wales, parents have a high regard for their experiences and want their children to benefit from them," said Lucy Winter a spokesperson for Age Concern.
"Their role is highly valued and the fact they have accumilated such a wealth of knowledge is highly valued."
Parents in Scotland were most reliant on their mums and dads for financial support while grandparents in the South East, West Midlands and North West were more likely to be a friend or confidant to their grandchildren.
The research, released on Monday, coincides with the launch of 2003 Grandparent of the Year Award, an annual competiton where children nominate their grandparents for the accolade.
Children can nominate their elders between July 7 and August 13 by logging on to www.ageconcern.org.uk/grandparents.
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