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Practice Insights

When an unexpected disaster strikes, and family members are unaware of a patriarch or matriarch’s end-of-life care wishes, then decisions about how to proceed can create deep-seated and long-lasting conflict that can destroy a family business. This week’s contributors, Mitzi Perdue and Jane Beddall share insights from their experiences and advice about how to address this sensitive subject with your clients.

Thanks to this week’s contributor, Harvey Taraday of TCH Partners LLP for his comprehensive examination of an often utilized but seldom examined step of the consulting process, the engagement letter.

Thanks to this week’s contributors, Annie Koh and Esther Kong of Singapore Management University for providing a new perspective on how family business advisers can create trust and forge sustainable partnerships with the next generation. Their suggestion? The adviser should play the role of a Connector, Collaborator, and even a Co-Investor.

As we conclude the special issue series, we would like to thank the FFI Practitioner editorial committee for their hard work and this week’s authors, Judi Cunningham and Wendy Sage-Hayward for sharing their insights on the impact that an advisor’s unconscious biases can have in their work.

Usually the most prized thing that we as established practitioners lose is our creativity. Once a niche is carved and sustained over decades of hard work, inevitably, at some point in time, complacency sets in.

I think advisors recognize that business owners have an added level of complexity in their lives — this holds true for wealth-holding families as well. This complexity is just a natural part of the system.

Thanks to Paul Karofsky and Kirby Rosplock for this interview on managing change in your family business practice.

Since the theme of The Practitioner this month is one of transformation, I would like to share the lessons learned from my transformation from family business owner to doctoral student to professional consultant.

Thanks to this week’s blogger, Luke Simmering, for his focus on the “driving force” in family business.

This podcast includes Fredda’s comments on how FFI has changed in 30 years and comments from both Fredda and Carolyn on a model they use in their consulting engagements that mirrors the message they want to send to clients.

Please enjoy a podcast with Amy Katz of Daughters In Charge. In this interview with Lanie Jordan, Amy shares the differences she has observed between women leading in a family business and their corporate contemporaries.

This week, The Practitioner, as part of its [email protected] mini-series on Achievement Award recipients, features the International Award winners.

Continuing in our 30th Anniversary Year series, The Practitioner is pleased to bring you examples of the latest thinking and activities of Barbara Hollander Award recipients.

Possibly the most important lesson I have learned from many years as a business lawyer is that Tarzan was right — “Jane, it is a jungle out there.”

The Practitioner likes to look forward, especially in a Leap Year. (See last week’s blog on New Year/Leap Year), but…looking backward is also fun. And… appropriate in 2016 as FFI celebrates its 30th anniversary.

If it’s true that family businesses are influenced by a variety of myths, how does this impact our ability to ensure that our clients can thrive in a competitive global landscape?

Can a theory from the field of psychology help build our understanding of family business leaders’ decision making and, in particular, in their choice of advisors?

Twelve people hungry for change are gathered in a room, even though they have strong reservations that anything can change.

Myth: The consulting focus should be on the entire family system only. Reality: Focusing on the individual earlier in the consulting process may help bring needed change.

This is the third in the February series of “Blogs from the Board.” Thanks to Debbie Bing for her blog on “The Moment You Can’t (or Better Not) Ignore”.