Financial advisers will be banding together as part of a new initiative, which will see professionals collaborating to assist family businesses.
The Family Business Consultants Network (FBCN) will include a range of service providers working together to resolve problems faced by family businesses.
“FBCN's members include facilitators and mediators, lawyers, financial planners, accountants, psychologists, finance and business advisers and mentors,” FBCN spokesperson Jon Kenfield said.
“Everyone has been personally invited to join based on their known trustworthiness and commitment to work collaboratively with complementary professionals - to resolve problems and develop appropriate solutions, rather than fight battles and create further anxiety and stress.”
As part of the initiative, the network will include a website designed to help those involved with family or private business develop “wise solutions.”
Mr Kenfield said the FBCN will help produce tailored advice to an often-overlooked segment of the community.
“Family businesses face a unique set of concerns and challenges,” Mr Kenfield said.
“Their needs are seldom well-served by using standard professional approaches, or by neglect.
“In many instances, off the shelf approaches actually compound problems, rather than providing appropriate solutions.”
The FBCN will be launched by Minister for Small Business Russell Northe on Monday June 16.
Magellan wrapped up a tumultuous year with a 9 per cent drop in average funds under management.
With more still to come.
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