TRANSITION AND SUCCESSION – LEGACY PLANNING
Succession and transitions are continuous processes that begin long before the retirement party is planned. Legacies are to be honoured, not just concentrating on transferring the family’s assets, but work on preserving the family’s values. Common causes of transition failure include lack of a common vision between all parties, lack of communication and failure to deal with conflict, particularly around sensitive issues. Owners can sometimes be ambivalent about planning for transition, and, in some cases, successors themselves are reluctant. A clear strategy is essential for a successful generational transition. The family business needs to be sustained and viable throughout the transition. FEA’s offer best practices for family business transitions. Family transition with a clear vision, a strong and committed next generation, maximization of family capital and maintenance of established family values will produce an aligned family to carry the business forward. We custom tailor our family enterprise consulting to fit what your family needs to protect and sustain its true legacy.
CONFLICT RESOLUTION AND EFFECTIVE COMMUNICATION

- Disparate family goals, values and needs
- Unaligned business vision and operations
- Conflicts among sibling managers or successors
- Leadership resistance to change
- Difficulty keeping personal and business separate
- Allocation of capital and profits to fund both family needs and business growth needs

NAVIGATING GROWTH & BUSINESS OPPORTUNITIES
An advised family will encounter new and fresh opportunities and areas for growth and prosperity. With the guidance of an FEA, a family enterprise can significantly reduce the issues and barriers to success by addressing, in advance, such issues as:
- control
- decision making
- governance
- vision
- roles and responsibilities
With a solid action plan in place for the family, the business and the organization, the family enterprise is strengthened on all fronts and is better able to capitalize on business opportunities in a timely and effective way. Sustainable growth of any business is only as sure as its foundation.
With the support of an FEA, families are able to be more adept in facing challenges at all levels of their enterprise, feeling that they are more prepared and trusting the family and the foundation that they have built.
GOVERNANCE
