Advising the Family Business - Wealth Management for Success

Introduction

There are unique dynamics of family businesses, which makes them different from non-family businesses. Family firms face complex issues that affect not only the destiny of the business itself, but also that of the proprietor, their families and their employees.

This virtual classroom session addresses how the business proprietor reconciles his/her own and their families’ aspirations with the commercial goals of the business, and its long-term sustainability, recognising that if you look after the business, the business will look after the family through generations.

What You Will Learn

This live and interactive course will cover the following:

• The dynamics of a family business and the needs of different stakeholders, including family and non-family, highlighted by the 3 circle model of family business
• Implementing an overarching governance strategy that complements good business practices with de-risking and maximizing family wealth
• Business succession issues and options
• Family financial peace of mind and financial security incorporating wealth management and efficient tax planning
• Balance between ongoing cash withdrawals and building up balance sheet and restructuring
• Managing the transition of family business and wealth (including non-business assets) via a family agreement and practical tips on commercial issues regarding legal documents such as Shareholder & partnership agreements
• Wealth matrix

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.