The process of planning and implementing change is often difficult.

It is challenging in a normal business situation, but becomes even more so when family members are involved. This is because family history and emotion can envelop discussions, resulting in them being “put off to a better time” or not happening at all, which often exacerbates the situation.

One of the most difficult transitions to manage is that of passing the leadership of the business or family to the next generation, particularly where many siblings or cousins are involved.

If both generations can understand their motivations at different points in the human life-cycle, they can start to accept why it is challenging to the individuals concerned. Families in Business works to engender mutual understanding and effective ways of communicating to satisfy the needs and aspirations of those directly involved, without disrupting family harmony.

We have particular expertise in managing change to reduce the pitfalls in the various transitions which can affect the family or its wealth.

Every business needs a long term plan. Family businesses need a parallel plan for the family. However the difference between a business plan and a family plan is that the former is usually for three years while the latter spans three or more generations.

Families in Business normally begins by helping the family to articulate and agree their shared values, vision and mission statement. This process naturally leads to aligning the business or wealth management plan with the family plan. These plans should be reviewed regularly as both markets and families are dynamic.

Once strategies are in place it is much easier to manage transition of roles and responsibilities from generation to generation, particularly the leadership of the business.

We have proven expertise in developing continuity plans, working with your professional advisers to reconcile the needs of the business with the needs and expectations of family members, whether they are working in the business or not.

John Freeman is a qualified, experienced family business specialist with a unique understanding of the complexities of families in business through living and working on both sides of the “fence”.

He has firsthand experience of the impact that issues between family members can have on the family and the business, or wealth.

This became even more apparent when he left the corporate world to work as an independent turnaround executive, often turning around family businesses.

John Freeman is on the Family Business Panel and Advisory Committee of Coutts (www.coutts.com). He advised Coutts on the creation of their Prize for Family Business, chaired sessions of the judging panels, interviewed finalists. He is a regular speaker on Family Business.

Our objective is to work with the family, the business owners, the managers and their advisors to secure the wealth and well-being of the family across the generations.

John Freeman is a member of The Family Firm Institute (www.ffi.org) and has been awarded their Certificate in Family Business Advising. He firmly believes in their philosophy of the Collaborative Approach to solutions for families managing a variety of assets:

All families are different but the situations that they find themselves in are surprisingly common although the solutions that are found differ because of the uniqueness of the individuals involved.

He has operated on a global basis in businesses from £2m to £480m, working for household names such as JCB, Guinness Group, Electrolux, and Vic Hallam plc.