Family Businesses and Professional Partnerships

Keliher Consulting has expertise in creating customized solutions to the unique issues faced when a business is more than just numbers.

Closely Held Businesses Need Additional Strategic Planning

A Family Business or Professional Partnership face sustainability challenges beyond those of publicly traded companies. The value of the business is tied closely to its founders and making both human capital and social capital keys to value.

Both require planning for management succession and ownership succession.

Family businesses need wealth transition strategies. This requires a Family Wealth Planning, which can either be a family office or a group of professionals serving such a function. The Family Wealth Transition Plan provides for:

• Creation of processes and structures that will support healthy family relationships
• Identify the family wealth system
• Clarify roles as they apply to development, operation and governance systems
• Create wealth transition structures within the family business enterprise
• Specific Experience

Experience in Transition Planning

• Mike has been a member of both large and small professional partnerships and knows hundreds of lawyers who face the business issues in such partnerships.
• Mike is an expert in business valuation (ABV) and can perform the traditional assessment of point in time value. However, this is a beginning not end point in assessment of value when a family business is in transition.

Books and reading material of interest

• Generation to Generation: Life-cycles of the Family Business by Kelin Gersick
• Family Wealth Transition Planning by Bonnie Hartley
• Family Business Magazine