
I am not referring so much to theory as practice: experts learn their discipline in the field. Many of the lessons that helped me to better serve my clients did not come from schools or books. The families themselves have shown me the keys to working with them and building professional and satisfactory results together.
Based on my experience, I have compiled a series of ideas to help advisors in the family business field expand and improve their methods. I present this selection based on my personal criteria, supported by the development of empathy and intuition that allows advisors to see beyond the senses when working with families in business. It does not pretend to be a complete or definitive list.
Family
Yes, it’s true: blood ties will always be mighty. As an individual external to each family system, practice will always demand that advisors avoid triangulations between members of the family, and between the family and the advisor. That’s why I suggest that advisors should know:
Succession
Every family enterprise advisory process involves, directly or indirectly, the issue of succession. Knowing how to perceive what is hidden within each opinion helps advisors to understand everyone’s expectations, fears, and aspirations regarding the future they want. For a succession plan to be feasible, it must satisfy both individuals and the family. To shepherd succession plans, it is my opinion that every advisor should know:
Sidebar

Wealth
Sometimes it’s not easy to decipher each family member’s relationship with money since our idea of wealth shapes our perception. Fortunately, we can deliver a certain degree of objectivity and translate much of this information into numbers, which is the language that business partners must learn to speak. Advisors can help families build trust with each other by fostering a culture of transparency and accountability. Still, enterprising families will always depend on the ability of the owners to interpret basic data generated by financial reports. That is why, to support a business family in this regard, advisors should know:
Professional development
Understanding the dynamics of a family means that an advisor must be aware that she or he can become the client’s next scapegoat. That’s why, in my opinion, objective advisors must learn to live without the fear of being fired by a family client at any moment. However, this is something advisors can only achieve if they have achieved solvency in the relevant aspects of their professional lives. So, I think advisors should know:
What are your reactions to this list? My original collection had over 100 ideas, so I’m sure there are some thoughts that I have missed. I’m interested in the opinion of my colleagues and invite you to email me any comments on this article or any additional element that you have observed that I may have omitted, based on your experience, that can supplement this writing.

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“Diary of a Family Enterprise Advisor” by Ruth Steverlynck