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Programme 3 - Guiding principles & the role of advisers

Approaching a family business assignment, it is important to involve the full range of disciplines from strategic planning to succession planning, from legal advice to personal wealth and pension planning and from fundraising to tax. Without an integrated “holistic” approach there is a danger of missing the “big picture” for the long term future of the business and its owners.

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One of the key guiding principles of advice in this area an attempt to keep the shareholder base as narrow as possible. We explore how a representative Family Council, the creation of an internal market for shares with an agreed valuation criteria and a dividend policy can reduce the risk of disputes. 

Management succession in a family business can be a major trigger of conflict and we explore the key attributes of a successor and how good preparation can help the earlier generation risk handing over the reigns.

Finally we discuss the advisers' role and the importance of advisers being seen as independent and not a representative of one faction or another.

Click the play buttons below to listen to individual tracks:

1. Choosing management succession

2. An "holistic" approach

3. Guiding principles

4. Family council

5. Avoiding shareholder disputes

6. The role of advisers