Made up of 16 service providers, including accountants, lawyers and consultants, the FBCN is a network committed to working independently, and with each other, to better serve family businesses.
FBCN chair Jon Kenfield said since its launch, the FBCN has been well received as a “much-needed local adviser initiative”.
“Family business owners are attracted to FBCN’s approach because they’ve heard so many horror stories about how other family businesses were ‘derailed, or worse’, by insensitive professional advisers who tried to provide technical solutions in isolation from their human needs,” said Mr Kenfield.
“FBCN members sign up as individuals who share a simple philosophy: we put our clients’ interests first,” he added.
The FBCN has strict guidance standards for service delivery for its members commencing “with a detailed analysis of a clients’ real needs, so we can develop a plan that’s entirely focused on satisfying those needs – rather than those of the adviser,” said Mr Kenfield.
Family businesses present advisers with a unique set of challenges that, if not recognised and appropriately dealt with, can seriously damage both the family and the business.
“A common affliction for many family businesses is an inability to separate personal and family issues from business issues – allowing each to invade the other – often with catastrophic consequences,” said Mr Kenfield.
“FBCN was established to address these issues by combining the best of traditional advisory practice with innovative thinking in family business advisory. The result is world’s best practice, available now to every Australian family business,” Mr Kenfield said.
Membership to the FBCN is by invitation only.
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