Business Families and Family Businesses
The STEP Handbook for Advisers, Second Edition
The book helps practitioners to deepen their understanding of how families operate, and to develop the skills and knowledge necessary to advise on such complex areas as conflicts between working and non-working family members, ownership structure, succession, wealth management, governance and meeting a family’s philanthropic objectives.
This new edition, edited by the Society of Trust and Estate Practitioners (STEP), features chapters by leading practitioners in the field, including the Family Firm Institute, Schroders, Boodle Hatfield and SandAire, Kleinwort Hambros, Dixon Wilson and Rathbones. The book considers what makes business families and family businesses unique, and examines the issues that advisers are often called upon to consider and address when assisting them. It helps practitioners to deepen their understanding of how families operate, and to develop the skills and knowledge necessary to advise on such complex areas as conflicts between working and non-working family members, ownership structure, succession, wealth management, governance and meeting a family’s philanthropic objectives.
The guide provides a comprehensive handbook for all practitioners who advise business families, including lawyers, accountants, financial advisers and wider family business advisers.
Table of Contents
|Table of contents||3|
|Family businesses and business families||9|
|Roles, relationships and responsibilities||21|
|Understanding the business family||33|
|Building a family business advisory team||45|
|Philanthropy and private charitable foundation readiness||55|
|Establishing the family business||71|
|Structuring the family business||87|
|Preparing for transfer of ownership||101|
|Rewarding and incentivising non-family directors and employees||119|
|Entrepreneurs within the family: encouraging entrepreneurship and innovation||149|
|The challenge of family wealth||161|
|Governance and management||177|
|Extracting wealth from the family business||189|
|Selling the family business||207|
|Family business: dealing with conflict||225|
|Managing succession,managing wealth||247|
|Protecting ‘family wealth’ – the changing landscape||265|
|Tax and corporate governance for family companies||273|
|Sophisticated reputation management for families and their businesses||283|
|Social and ethical investing||295|
|About the authors||309|
Review for first edition - The STEP Handbook will undoubtedly become required reading for advisors across the disciplines such as the trust and legal, accounting, HR and other professions who set out to deliver high standards of service for their family business clients
This second edition of Business Families and Family Businesses is much to be welcomed. It’s an essential reference book for any adviser in this rather neglected but vital sector of the economy. This edition not only provides technical and compliance guidance, but its diverse range of contributors give historical and international context which illustrate the key issues. I particularly enjoyed the inclusion of many case histories that bring life to both the challenges and solutions which families have encountered as businesses pass through the generations. It’s extremely well edited and organised by topic and specialism, and I recommend it unreservedly.
Partner, Boodle Hatfield LLP
Hayden Bailey is a partner at Boodle Hatfield. He has an extensive range of private client and tax planning experience. Particular areas of interest include advising on UK capital taxation strategy for wealthy individuals including wills, trusts, insurance-based products, compensation trusts and family business shareholder issues. Hayden also advises non-UK domiciliaries on their UK taxation exposure. He is a qualified chartered tax adviser and a committee member of the Society of Trust and Estate Practitioners. He regularly lectures on tax mitigation strategies and is a member of the Chartered Institute of Taxation. Hayden qualified in 2002, joining Boodle Hatfield in 2007. He is recommended as one of the top 10 private client lawyers by Spear’s and is listed in the Thomson Reuters ‘Super Lawyers’ list.
Nigel has been a partner for more than 10 years and is the leader of Deloitte’s UK tax disclosure and transparency team. Nigel is a member of the global tax controversy team and advises on the tax transparency agenda including the automatic exchange of tax information and beneficial ownership register regimes.
Nigel has significant experience of advising private clients and private companies on a wide range of tax matters. He has advised on information notices, worldwide disclosure facility (WDF) disclosures and a wide range of HMRC enquiries covering UK residence and domicile status, dual contracts, private equity structures, employee benefit trusts, specific planning arrangements and trust distributions reporting. Nigel works closely with Deloitte’s tax policy group in shaping the firm’s response to HMRC consultations on personal tax and disclosure issues.
Nigel has also been heavily involved in advising clients on their approach and methodology to respond to the UK criminal offences of failure to prevent the facilitation of tax evasion.
Adjunct professor of family business, INSEAD Business school; founder and adviser, FamilyGovernance
Christine Blondel’s 20+ years of experience in the family business field gave her exposure to hundreds of family business cases through her teaching, writing, conferences, board memberships and advising. She has written on Fair Process, women in the family business, large multi-generational family firms, the sale of the family business, and different aspects of family governance. She advises family firms on their governance and transmission, and teaches at INSEAD, the global business school, where she co-directs the Family Enterprise Challenge programme. She collaborates with other business schools: Nova (Portugal), Concordia (Canada), Cornell (USA). Co-founder of IFERA, former board member of FBN International, Fellow of FFI, she received FFI Interdisciplinary Achievement Award in 2017. Her life-long training includes Ecole Polytechnique France; INSEAD MBA, Negotiation and Governance Programmes; Business Families Foundation’s Road Map for Facilitators; nine years at Procter & Gamble; supervision and retreats; and raising four boys.
Partner, Dixon Wilson
Joanna is a qualified chartered accountant and chartered tax adviser, and looks after a varied portfolio of clients, with a focus on UK resident individuals and their businesses and not for profit and charitable organisations. She has particular expertise in acting for art dealers and galleries. Joanna gets involved with many aspects of her clients’ financial affairs, providing audit, accounting and tax compliance services and advising on tax structuring and planning. This range of experience allows her to take a broad overview of the issues faced by her clients and to provide the clear and practical advice that they require. In 2016, Joanna was awarded the ICAEW Diploma in Charity Accounting.
Richard is the head of Wealth and Asset Management UK at Berenberg. He joined in June 2011 from Schroders Private Banking having started his career in corporate finance after qualifying as a chartered accountant at KPMG. Richard is the founder of Impact Ventures UK, a social impact fund focused in the UK, and is a director of the Montpelier Foundation. He is the chairman of the Arts Impact Fund Investment Committee, a board director and member of the Advisory Council of the London Philharmonic Orchestra and sits on the Advisory Board Council of the Institute for Family Business.
Co-founder and partner, Tribe Impact Capital LLP
Amy is the co-founder and partner at Tribe Impact Capital LLP, an impact wealth manager and Benefit Corporation (B Corps). Tribe advises and manages private and institutional wealth for financial return, values alignment and positive and sustainable social, environmental and economic impact.
Amy has over 24 years’ experience in sustainable business and impact advisory and investing in consultancy, charity and industry. She has held several senior positions heading up sustainability and corporate responsibility teams at Bank of America Merrill Lynch and Microsoft as well as the Private Client practice at CAF. Additionally, Amy sits on the boards of the Blue Cross and Big Issue Invest, as well as sitting on the Development Council for the Future Fit Foundation.
Partner, Rawlinson & Hunter
Toby specialises in the field of Private Client Tax, as part of the Trust & Wealth Services department. He enjoys working closely with clients, legal advisers and Family Offices to understand their particular requirements and has a wide breadth of experience, having advised both UK and nondomiciled clients.
Toby joined Rawlinson & Hunter in 2004, working initially in the Private Client department before transferring to the Firm’s Cayman Islands office for several years. He returned to the UK in 2010 and became a partner in April 2014. Toby is a chartered accountant, chartered tax adviser and a member of the Society of Trust and Estate Practitioners (STEP). He is the holder of an Advanced Diploma in International Trust Management, Advanced Certificate in Advising Vulnerable Clients and is a member of PAIAM (Professional Advisers in the Art Market.) He also sits on the Worldwide Council of STEP as the representative for the City of London.
Head of Rathbone Private Office, Rathbones
Ian Dembinski joined as the head of Rathbone Private office in July 2016.
He has 31 years of financial services experience having started his career in investment banking in 1985 working for SG Warburg. His first 18 years involved a variety of roles including corporate banking, Iberian country coverage, debt capital markets and corporate finance sector coverage for hotels, airlines and leisure businesses. In 2003 he joined the UK private banking team of UBS, progressing to Head of UK Ultra High Net Worth (‘UHNW’) clients in 2008. In 2010 he joined Credit Suisse as Managing Director and Head of UK UHNW, assuming responsibility for the UK domestic private banking group in August 2012 where he successfully developed the bank’s HNW franchise.
He is RDR Level 6 qualified having passed the PCIAM qualifications with merit and is a member of CISI. He studied at Queen’s College Oxford where he read history and achieved a BA Hons.
Tracy Gordon is one of the leaders of Deloitte’s UK Centre for Corporate Governance and she specialises in corporate governance matters. Tracy leads governance activities across a range of stakeholder communities. She regularly presents to clients on the latest governance and corporate reporting developments. She is also a regular presenter at the Deloitte Academy plus works oneto- one with client boards and audit committees. She is part of the Board Advisory practice working on board performance and governance effectiveness reviews for listed, private and public sector clients. She also undertakes benchmarking exercises for many companies keen to meet current standards for best practice and bespoke training for board members new to the UK governance framework or needing a refresher on the requirements.
Tracy is a member of the following governance committees: the CBI Companies Committee; the Institute of Directors’ Governance Policy Group; and the Quoted Companies’ Alliance Governance Expert Group.
Partner, Cavendish Corporate Finance LLP
Peter Gray is a partner with Cavendish Corporate Finance LLP. Cavendish is currently the United Kindgom’s leading specialist adviser to vendors of family-owned companies, having acted on the successful sale of some 400 companies since its inception in 1988. Peter joined Cavendish in 1995, since which time he has been personally involved in the sale of more than 50 companies, including a number of household names such as Avent Baby Products and Antler Luggage. Prior to joining Cavendish, Peter worked as a lawyer with Clifford Chance in its management buy-out group. He has degrees in Law and Economics from the University of Melbourne and an MBA. He is a frequent lecturer on the subject of selling private companies.
This biography remains unchanged from the previous edition
President, Family Firm Institute Inc.
Judy Green is president of the Family Firm Institute, an international professional association of individuals and organisations who advise and study multi-generational families. She holds a PhD from Marquette University and is the recipient of the FFI Barbera Hollander and International Awards. She is a frequent author and commentator on the family enterprise field.
President, Key Resources LLC
Jane Hilburt-Davis, ACFBA, is an experienced family business consultant and president of Key Resources LLC, a Boston-based consulting firm. She is the founding chair of the innovative Certificate for Family Business Advisors, a Family Firm Institute (FFI) Fellow, president emeritus of FFI, Academic Director of the Global Education Network and a Board member of the Institute for Family Owned Business (IFOB) in Maine. Considered a leader in the field, she received the prestigious Richard Beckard Practice Award in London designed to recognise outstanding contributions to family business practice. Jane is the author of many articles and case studies, and has trained, mentored and coached hundreds of family business advisers. She is senior author of the widely acclaimed book, Consulting to Family Businesses and co-author of Family Enterprise: Understanding families in business and families of wealth both published by Wiley. She serves as consultant and adviser to family businesses and closely held companies throughout the United States, and has lectured and taught in the family business field in the US, Canada, Europe and Australia. (For more information about Jane and her company, please go to www.familybusinessconsulting.com.)
Independent mediator, Hildebrand Mediation & In Place of Strife
Andrew Hildebrand is one of the UK’s leading commercial mediators. He has a knack for successfully resolving family business and partnership disputes quickly, confidentially and cost-effectively. As well as defusing disputes that are hostile and emotionally charged. Andrew specialises in ‘early stage’ mediation helping people deal with change, succession and conflict. This reflects his background as a deal-maker, working in industry for over 20 years heading up business divisions, brokering and project managing multi-party, multi-national deals.
Andrew is also a highly sought after entertainment and sports mediator. He regularly works with people in creative businesses and was recently appointed by the British Film Commission to successfully mediate the UK Film Industry’s ‘terms of trade’ negotiations and ensure that Hollywood studios continue to shoot their blockbuster films in the UK.
A solicitor, Andrew was previously a partner at Mishcon de Reya, a top ranked in-house general counsel including for Channel 4 and FilmFour, and Richard Attenborough’s executive producer.
Director, Rawlinson & Hunter
Neil joined Rawlinson & Hunter in 2010 after roles in the profession and in industry, including a period in the training sector where he developed and delivered tax training courses for accountants and lawyers.
At Rawlinson & Hunter, Neil advises on all business, employment and shareholder tax issues, with a primary focus on fast-growing OMBs and entrepreneurial start-ups. In particular, Neil advises companies and their owners on developing and implementing joined-up personal and business tax strategies from start-up through to exit.
Neil is an Associate of the Institute of Chartered Accountants in England & Wales, and an Associate Member of the Chartered Institute of Taxation.
Managing director, Head of Private Banking Kleinwort Hambros
Paul is responsible for all aspects of the client facing activities of the bank. Prior to the merger of Kleinwort Benson and SGPB Hambros, he was the head of Private Banking at Kleinwort Benson having joined in 2011. Paul’s career has involved senior leadership positions in international investment banking and asset management organisations. Immediately prior to joining KB, he established and ran a family office for a European technology entrepreneur. He holds a degree in economics and is a Fellow of the Institute of Chartered Accountants in England and Wales.
Mark is a partner in Deloitte’s global Tax Management Consulting group. A chartered accountant with over 19 years’ experience, he focuses on advising large and complex organisations on tax compliance and reporting tax matters. Mark works with a wide range of businesses and has experience of working inhouse, including a six-month secondment as an interim Head of Tax for a FTSE100 group. Mark leads Deloitte’s Tax Governance, Risk and Controls team and engages directly with HMRC at a policy level regarding the development of legislation and practice relating to tax governance. His most recent focus has been on the development of the Senior Accounting Officer regime, the introduction of the UK Tax Strategy disclosure requirement, the new Corporate Offence for the Failure to Prevent the Criminal Facilitation of Tax Evasion and HMRC’s consultation on their Business Risk Review methodology.
Mark frequently presents and is published on the theme of tax risk management, including contributing to the IBFD’s Tax Risk Management: From Risk to Opportunity. He also authored recent Deloitte publications: Risk Transformation and Tax and Governance in Brief: Tax.
Senior partner Lansberg, Gersick & Associates LLC
Ivan Lansberg is co-founder and a senior partner of Lansberg, Gersick & Associates LLC, a research and consulting firm specialising in family enterprise and family philanthropy. Ivan is also in the faculty of the Northwestern University’s Kellogg School of Management and co-director of the Center for Family Enterprises. Prior to his involvement at Kellogg, Ivan was a professor of organisational behaviour at the Yale School of Organization and Management for seven years. One of the founders of the Family Firm Institute, Ivan was the founding editor of the Family Business Review. He has written widely on family business issues, including Succeeding Generations (1999) Harvard Business School Press, and Generation to Generation: Life Cycles of the Family Business (1997) Harvard Business School Press. His most recent article, entitled “Tests of a Prince”, was published in the Harvard Business Review (September, 2007). Ivan holds PhD, MA, and BA degrees from Columbia University.
This biography remains unchanged from the previous edition.
Partner, Boodle Hatfield LLP
Mark Lindley is a private client partner at Boodle Hatfield. He specialises in litigation regarding trusts, estates, gifts and matters relating to mental capacity both on and off shore. He regularly advises family business owners on how to avoid disputes where possible and on effective resolution when things get difficult. He also works with individuals, families and trustees in relation to long-term planning needs, drawing on his experience as both a private client and litigation lawyer. Many of Mark’s cases are resolved discretely and confidentially out of court, by way of mediation, negotiation and other forms of alternative dispute resolution. He is a member of Society of Trust and Estate Practitioners (where he sits on the Contentious Trusts and Estates SIG Global Steering Committee), ConTra, the Association of Contentious Trusts & Probate Specialists and is a regular speaker at conferences.
Family office director, Landmark Advantage
James has been advising families in business for over 15 years. He is co-founder of Landmark Advantage, a multi-family office operating in Canada since 2001. Landmark takes an integrated approach to managing complex, multidimensional family and technical issues in supporting business families to reach the full potential of their human and social capital.
In 2006 James joined the steering committee of the Family Firm Institute (FFI) and became a founding member of the FFI Ontario chapter responsible for bringing the FFI to Canada. James was a founding member of the STEP Family Business Special Interest Group and has contributed articles to STEP concerning advising business families. He also served as the STEP representative on the curriculum review committee for the FFI Family Business certificate programme.
Head of private client, Wright, Johnston & Mackenzie LLP
Ian Macdonald is head of private client at Wright, Johnston & Mackenzie LLP, Solicitors in Glasgow. He is dual-qualified in Scottish and English law and is accredited by the Law Society of Scotland as a Specialist in Trusts Law. Ian advises high net worth individuals and families throughout the UK and abroad on tax and estate planning, wills, trusts and family governance. Ian has been a member of STEP almost since it was founded in 1990 and currently represents Scotland on STEP’s Council. He was Deputy Chairman of the STEP Business Families Special Interest Group from its formation in 2007 until the end of 2017 and is also a member of STEP’s Professional Development Committee and Scotland Branch Committee.
Consultant partner, New Quadrant Partners Ltd
Joan Major was a founding partner at New Quadrant, a London based boutique private client law firm and now acts as a consultant and nonlawyer partner.
At New Quadrant she works with the other team members to advise clients on the wider issues of wealth structuring, family office establishment and management, succession planning, family governance, philanthropy and education. Joan has over 25 years’ experience working with wealthy families, individuals and family offices.
Head of family business consulting, KPMG LLP
Ken McCracken heads a team of specially trained consultants in KPMG LLP who help families-inbusiness to create effective governance for their enterprises. This involves balancing the distinct and sometimes competing interests of the business, the owners and the wider family. Clients range from first generation businesses to multigenerational, global enterprises. Ken is a Fellow of the Family Firm Institute (FFI), the leading international organisation for family business professionals and academics and is a past recipient of the FFI Award for Outstanding Interdisciplinary Achievement. He is also author and teacher of the Advanced Certificate in Family Business Advising for the Society of Trust and Estate Practitioners (STEP).
Partner, Withers LLP
Paul McGrath is a partner at Withers LLP in London and is European Regional Leader of the firm’s Business Division. He studied law at Brasenose College, Oxford and joined Withers in 1995, becoming a partner in 2007. Paul is a corporate lawyer who advises on mergers and acquisitions, demergers, employee share schemes, partnerships and general company law. Paul has extensive experience of corporate and group reorganisations, investment vehicles and commercial contracts. He advises both domestic and international companies, individual entrepreneurs and investors in a wide range of business sectors. His particular focus is on closely held businesses and, in particular, family investment companies and family governance structures.
Maria Dolores Moreno
Senior associate Lansberg, Gersick & Associates LLC
Maria Dolores Moreno is a senior associate with Lansberg, Gersick & Associates, a research and consulting firm specialising in family enterprise and family philanthropy. Before becoming a consultant, she was the chief financial officer of a major family enterprise in Central America. She has worked extensively over the last 25 years on family business ownership structures, financing, mergers and acquisitions, financial restructuring, dividend policies, stock ownership programmes and executive compensation. She has been actively involved in continuity planning in large cousin consortiums and has been responsible for coordinating among family members, external advisors and legal counsel the design and implementation of ownership and governance structures, estate plans, shareholders agreements, succession plans and retirement plans. Maria Dolores is a Fulbright alumna and holds an MBA degree from the Peter F Drucker Graduate School of Management.
This biography remains unchanged from the previous edition.
Director, EJS Financial Planners Ltd
Jason has over 25 years’ industry experience, has gained a wealth of knowledge and an understanding of clients and their requirements and provides a fully bespoke financial planning service to private individuals and companies. Jason holds the Chartered Insurance Institute Diploma in Financial Planning and is a member of the Personal Finance Society. He has extensive experience across a wide range of financial planning areas and has cultivated a wide circle of individual and corporate clients who frequently seek his advice and enthusiasm on an array of financial planning areas.
His areas of expertise include tax efficient investment planning; pre- and post-retirement planning strategies; estate and succession planning, including inheritance tax mitigation; as well as both personal and business protection solutions.
Partner, Farrer & Co
Julian heads Farrer & Co’s Reputation Management practice. He has more than 25 years’ experience of advising high profile individuals, corporations and institutions who find themselves the subject of attention, whether from mainstream media, online attacks or campaigning/obsessed individuals. His practice includes advising on the widest range of reputation management issues, including on the planning and preventing of crises, dealing with high-profile data leaks, advising on regulatory investigations and responding to parliamentary inquiries. Having also advised newspapers for many years, he has extensive experience in dealing with the press.
Senior associate, Michelmores LLP
Edward is a senior associate in the Private Wealth team in the Bristol office. He won the Bronze Citywealth Regional Lawyer of the Year Award in 2016 and was also named in Citywealth’s 100 Future Leaders Awards in the same year. Edward undertakes a broad range of estate planning and tax advice for individuals and families, including those with business interests. He also has experience of trust and probate administration and charity matters, including creating and registering charities and advising on governance, and is a member of the Society for Trust and Estate Practitioners.
Head of Philanthropy and Head of Family Governance & Family Enterprise Succession, HSBC Private Banking (UK)
Russell Prior leads the services providing clients with philanthropy, social investment, family governance and family enterprise and wealth succession advice.
Before joining HSBC, Russell was executive director at CAF leading their philanthropy, corporate community investment and charity financial services. Before that, Russell held senior positions at Barclays PLC in wealth management and corporate banking.
Russell is chair of Bell Educational Trust Limited, a charitable foundation that works in language education for disadvantaged groups, and a non-executive director of ACS International Schools.
Russell was previously a council member of the European Foundation Centre, chair of the UK Finance Hub and a trustee of several charitable foundations. He has advised banks and government agencies on philanthropy, has written numerous articles and been a frequent speaker on family governance and enterprise succession and philanthropy.
Partner, Michelmores LLP
Jonathan advises wealthy individuals and families in connection with the structuring of their private wealth. He works provides personal tax and estate planning advice for directors, shareholders and entrepreneurs.
Jonathan advises both UK and non-UK domiciled clients, and a large proportion of his work has an international element. He is a trustee of many settlements and he advises trustees of other trusts as well as guiding offshore fiduciaries in connection with a variety of UK-facing elements.
Patricia A Robinson
Founder and principal, Robinsons Law
Pat Robinson has been advising private clients and family businesses about their tax and estate planning needs for over 35 years. Pat’s practice focuses all aspects of domestic and international estate and will planning, personal and private corporation taxation, charitable gifting, private foundations, powers of attorney, inter vivos and testamentary trusts, and domestic contracts.
Pat also advises on the creation and registration of new charities, income tax, federal and provincial regulatory compliance, and organisation and ongoing administration of charities and not-for-profit entities. Pat is recognised as a leading trusts and estates lawyer by The Canadian Legal Lexpert® Directory, Best Lawyers in Canada, Euromoney’s Guide to the World’s Leading Lawyers and is the recipient of the Martindale-Hubbell® AV Preeminent™ lawyer award.
Pat is a director of several charities and was a founding member of the Canadian Bar Association’s charities law section.
Partner, Boodle Hatfield LLP
Simon specialises in UK and international tax and estate planning for individuals and trusts. His work includes estate planning strategies for wealthy families and their businesses (encompassing jurisdictional and conflicts of laws considerations), wealth protection structures, governance, divorce issues, pre- and post-nuptial agreements and generational succession planning. Simon also advises on high value, contentious trusts and estate disputes for both onshore and offshore clients.
Founder, Sandaire Investment Office
A member of the fourth generation of family business owners, Alex founded Sandaire in 1996, having overseen the sale of his family’s financial services group. Sandaire is now an international multi-family investment office serving several wealthy families and not-for-profit institutions in London and Singapore.
In his role as chairman of Applerigg, Sandaire’s parent company, Alex has also facilitated the creation of Yealand Administration, a funds administration company; Mount Kendal, a real estate investment adviser; and Horizons, a contemporary network and learning environment for the leaders of tomorrow. He is a non-executive director of his family’s investment holding company, as well as of several private companies. He is a Trustee of the Grosvenor Estate (a prominent UK family business), and Chairman of the Grosvenor Pension Plan and of Wheatsheaf Group.
Alex co-founded and is a life-president of the Institute for Family Business (UK) and has served as a director of the Family Firm Institute Inc. He has several philanthropic responsibilities and commitments.
Alex read Philosophy, Politics and Economics at Exeter College, Oxford and holds an MBA from IMD, Lausanne.
Partner, Dixon Wilson
Gregory is a qualified chartered accountant and chartered tax adviser, and advises a range of private clients on their financial and tax affairs. This is focused around individuals and families and their financial interests including private companies, trusts and charities. It includes both compliance and advice.
He is often advising landed estates, entrepreneurs and their businesses, and non-UK domiciled individuals who are moving to the UK. Gregory holds the ICAEW audit qualification and is a responsible individual for audit purposes.
Shayne E Stephens
President, Family office director, Landmark Advantage
Shayne co-founded Landmark Advantage in 2001 to provide interdisciplinary strategic direction, management oversight and a highly customised approach to preserving and sustaining family wealth.
She is a Fellow of the Family Firm Institute (FFI) and is accredited as a Family Business Advisor (CFBA) and a Family Enterprise Advisor (FEA). A sought-after speaker, Shayne has presented on a range of family business topics at North American Family Office and Wealth Management conferences. Shayne joined the steering committee to bring the Family Firm Institute (FFI) to Ontario in 2006 and became the membership chair of the inaugural FFI Ontario board of directors. She has been a guest lecturer at the Schulich Business School, York University Toronto, Canada. Shayne’s other passions include teaching and learning, community work, sports and wilderness camping.
Partner, Rawlinson & Hunter
Alex advises on corporate matters for clients ranging from owner managed to listed entities and across a broad range of industry sectors. He manages the accounting, audit and company secretarial compliance for a portfolio of UK and International clients and is experienced in dealing with the financial aspects of corporate transactions, including due diligence and limited scope reviews. Alex is a senior member of the team responsible for share and business valuations and forensic accounting assignments. Alex acts extensively for pharmaceutical companies in relation to their obligations under the Pharmaceutical Price Regulation Scheme.
Alex is a member of the Institute of Chartered Accountants of Scotland, an associate of the Chartered Institute of Taxation and an affiliate member of the Society of Trust and Estate Practitioners. He is a member of the Valuation Group of the Institute of Chartered Accountants in England & Wales.
Partner, Boodle Hatfield LLP
Geoffrey Todd is a partner at Boodle Hatfield. He gives UK and international tax and estate planning advice to individuals, trustees and family businesses. He advises on tax planning strategies including the use of trusts and alternative structures, on residence and domicile issues and on cross-border estate planning, particularly between the US and the UK. He also helps clients with succession planning, including the protection of wealth against divorce, and philanthropy. Geoffrey acts for entrepreneurs and owners of established trading companies, whose businesses include luxury retail, manufacturing, property, and wine production. He is a graduate of Oxford University and joined Boodle Hatfield in 2002. Geoffrey is a member of the Society of Trust and Estate Practitioners (STEP) and has served on the steering committee of the Business Families Special Interest Group.
Investment director, Rathbones
Tim West is an investment director, with over 20 years’ experience at Rathbones. He manages private client portfolios, pension funds and charities, and is a Fellow of the Chartered Institute for Securities and Investment.
Tim sits on the Collective funds committee, with responsibility for researching Private Equity and UK Smaller companies. In addition, he advises the Strategic Asset Allocation Committee on Private Equity. He chairs the Wealth Management Association (WMA) indices committee. Prior to Rathbones, Tim spent five years teaching (Classics), having graduated from Durham University.
Tim is a trustee of the Shipwrecked Mariners Society that donates approximately £1m a year to those from maritime industries that have fallen on hard times and is on the Finance committee of the Clothworkers Livery company that is responsible for £500m of liquid assets.