Advice Plus was established in 2010 as a rural based consultancy delivering a comprehensive range of Specialist Business Management and Succession Planning services to rural based clients across Australia. The size and structure of the practice ensures members of the team are directly involved in each project and are responsible for the final delivery and ensure client satisfaction.
We seek to build mutually beneficial relationships and ongoing partnerships with clients, business partners and stakeholders; we understand the importance of building a rapport and endeavour in each case to become the trusted advisor.
Advice Plus: A fresh approach to Succession Planning
The Advice Plus approach is very much about aligning family needs and intentions, a methodology to enable the family to collectively decide what they wish to achieve for their family and for their family business. Advice Plus works in close consultation with all family members to bring all the issues, concerns and aspirations to the table for a full and open discussion. The family meeting is conducted by an Advice Plus independent facilitator; in a collaborative and non-threatening manner and in a neutral environment.
Once the family has agreed on the desired way forward, the family is presented with a detailed summary of key recommendations. To further progress and formalise the succession plan this document forms the basis of a comprehensive Family Agreement and guiding principles. The document provides each family member with clear direction on the areas they are responsible and accountable .
We recognise that each farming family is unique and individual solutions need to be found to suit each family circumstance.
The old method of the parent generation imposing a structure on the next generation can cause resentment, misunderstanding and may not meet the needs and aspirations of the subsequent generations. As each new generation gains an active interest in the business there may be a conflict of views and opinions, values, needs and objectives.
Too often decisions are made about the farm and little consideration is given to the people involved, particularly off-farm children and their future needs.
Our approach is very much about working with the family to plan with the current generation the way forward and their life beyond farming. We identify the needs and aspirations of all family members, building strong understanding and relationships, communicating and managing expectations of all the family while sorting out how to transfer management and eventually assets between the generations. The family intentions are documented into a Family Agreement.