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THE FAMILY BUSINESS CONSULTING GROUP, INC.
For over 25 years, we have had the honor of serving over 2,700 client families in 70 countries with one mission: Helping Family Businesses Prosper Across Generations
CATEGORIES
HOW TO
The info you need to interview and compare advisors in a variety of disciplines
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INTERVIEWING PHILANTHROPY ADVISORS
By Robyn Hullihan, Elizabeth Wong
Corporate and private philanthropy require daily decisions on a myriad of topics, including governance, grantmaking, employee engagement, community outreach and communications. While philanthropic institutions often expand their expertise and resources as they evolve, an outside advisor can provide valuable support to help them through unique challenges or periods of transition.
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INTERVIEWING LAW FIRMS
By F. Douglas Raymond III, Vanessa S. Tabler
There are more than 1.3 million lawyers in the United States, so most likely you know, or are even related to, a lawyer you might ask to help with a legal problem or challenge you are facing in your business or family. While proximity and familiarity can be valuable, they are not the best criteria for hiring a lawyer. It is important to understand the correct criteria for making this important decision.
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INTERVIEWING LIFE INSURANCE ADVISORS
By Martin Valentic
The life of a business owner can be a constant stream of decisions — on a varied array of matters such as new suppliers, employee benefits and potential acquisitions. As a former business owner myself, I can certainly relate. One of the most important decisions you might be faced with is the hiring of a life insurance advisor/firm.
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INTERVIEWING VALUATION FIRMS
By Travis W. Harms
As family businesses mature, the reasons for developing an ongoing relationship with a valuation firm multiply. Whether you are establishing a valuation process for a shareholder redemption program, contemplating an employee stock ownership plan (ESOP) or facilitating estate planning for family shareholders, a credible, well-reasoned valuation is an essential component of your strategy for promoting positive shareholder engagement.
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INTERVIEWING EXECUTIVE SEARCH FIRMS
By Lee Ann Howard, Tina Darcy
Even if you have a deep bench at your company, there are times when an internal candidate is either not ready or not right for the leadership role you need to fill. Today, because of a high demand for top talent, the market favors the candidate. Finding talent is challenging, and finding the right leader is even more so. An executive search firm can help you find the best person, but first you must find the right firm for your organization’s needs and culture.
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INTERVIEWING COMPENSATION CONSULTANTS
By Bertha Masuda
Pay decisions and processes are key components of a company’s talent strategy. As your company’s overall business strategy evolves, so too must its pay philosophy and programs. Leaders often rely on their own experience or on their boards for compensation advice. However, there are times when an outside compensation consultant can be a valuable resource.
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INTERVIEWING FINANCIAL ADVISORS
By Christopher F. Poch
Despite the limitations, I recommend selecting one high-quality firm as your financial advisor. Enlist your tax, insurance and other advisors to be the “watchdogs.” Once a year, ask all advisors for their opinion of each other. Good advisors will tell you the truth. Weak advisors should be replaced.