Managing Family Business
Check out our Managing Family Office & Wealth course in London.
This programme is now available only on in-company basis. If you have a group of 3 or more we can deliver it in any location worldwide. Contact us to find out more.
Check here the list of our upcoming open public courses.
Family owned businesses are the cornerstone of the global economy accounting for 80% of all businesses. Notwithstanding this fact there has been limited focus on the specific issues and challenges facing this type of organisations.
This highly practical 2 day course will give you a thorough understanding of the complex needs and functioning of a family enterprise. From assessing the requirements of the family business and setting up structures for family governance to understanding the working of family business boards and establishing performance measurement systems you will gain practical tools to manage and advise family owned organisations.
Managing conflicts, taxation, education and succession planning will be amongst many topics discussed during this programme.
Conducted by an international expert with over 20 years of experience in advising family offices and businesses and wealth management, this programme will prepare you to tackle complex issues surrounding family businesses.
What Will You Learn
By the end of this course you will:
Main Topics Covered During This Training
Who Should Attend
The course will be of interest to:
Managing Family Business - A 2 Day Course
Overview of “The Family Enterprise”
- From “corner shop” to Sovereign Wealth Fund
- Nuclear, multi-generational and networks of families
- Separation of business and personal wealth
- Understanding the complexity of the family enterprise
- Dealing with concentration of risk
- Lifestyle or Enterprise
- Passion for “control”
- The role of the Family Office within a Business Family
Developing the family “mission and values”
- Why, what and how?
- Family values drive success
- Establishing (and articulating) the common and shared purpose
- Developing goals and priorities
- Clear direction – the road to longevity
- Attitudes to ownership
- Value out or custodians?
- Inter-generational or multi-generational?
- Philanthropy and Community
- The importance of brand, reputation & legacy
Ownership and Governance of the Family Enterprise
- The Family Constitution - formal or informal?
- Structure and Governance mechanisms
- The workings of family business boards
- Performance Measurement and reward systems
- How motivated are family members?
- Dealing with “complex family structures”
- Ill health
- Family division
- Transition management
- Exit of the founder(s)
- Intergenerational or multi generational planning?
- Distribution or growth
- Preparing for transfer of ownership
- The impact of the “passage of time”
Assessing needs of the Family Enterprise
- Skills & Competency inventory
- The significance of the “developmental model” in the evolution of the family business
- Make vs buy support services
- Selecting advisors
- Mobility of wealth & the family business
- Planning for specific liquidity events
- Confidentiality and Secrecy
- Preparing for the sale of the family enterprise
- Women & the family business
Advising family businesses
- Using the “family tree” to predict the future
- Recognising the “sub systems”
- Identifying and managing conflict
- Extracting wealth from the family business
Our Course Director is currently working as a trainer and consultant focusing on the wealth management needs of high net worth private clients, their families and their businesses.
Prior to this Bill worked in the international private banking market for almost 20 years. His private banking career began with Royal Bank of Canada where he spent 15 years in a variety of senior roles covering all aspects of the international wealth management business both onshore (London) and offshore (Bermuda).
Bill has broad general wealth management experience but his particular area of expertise is developing financial planning solutions for international high net worth private clients and their businesses who have complex cross border planning issues. In addition to wealth structuring, tax and estate planning the practice also advises on the specific challenges in establishing and growing a successful family enterprise.
During his career Bill has had responsibility for designing and delivering financial education programmes for professional staff and wealthy families in the Middle East, Europe, USA, Canada, South America and Africa. Bill is currently developing and delivering training programmes for international banks, private banks, wealth managers, family offices, professional bodies and regulators covering a broad range of financial, investment and soft skills subjects.
Bill is a Chartered Accountant (FCA), Trust and Estate Practitioner (TEP) and Financial Planner (DipPFS).
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