On March 16, 2022, Avail's Zach Keith was awarded the Family Enterprise Advisor (FEA) designation from Family Enterprise Canada.
Successful family enterprises have complex multi-generational issues and requirements. The FEA program supports a holistic and multi-disciplinary approach to serving family enterprises with the health and wellbeing of the family foremost in mind.
What skills does an FEA have?
Families are complicated. Family Enterprise Advisors have a sophisticated level of understanding around family enterprises and their unique challenges.
The FEA program raises interpersonal intelligence and deepens an advisor's understanding of how family dynamics can impact the enterprise.
How do you earn an FEA designation?
The Family Enterprise Advisor designation is awarded to qualified professionals who complete a certification process as well as the Family Enterprise Advisor Program©, which consists of six highly-engaging modules and a capstone project.
The designation is issued by Family Enterprise Canada.
Who can benefit from working with an FEA?
There are many types of enterprising families who are in need of a trustworthy advising professional and can benefit from an FEA, such as:
- Family farms, big and small
- Family business with multiple generations involved
- Families with a vision for involving the next generation in the business and ownership
- Business families that are unsure how to plan for the future of their family and business
- Families looking to strengthen their relationships to improve their enterprise
- Family business that are growing and now need non-family members involved to keep up with the growth
- Families that are looking to expand into new opportunities but want to protect what has already been built
What services can an FEA help me with?
An FEA can help family businesses navigate the many unique needs of their business, including:
- Long-term continuity planning for the families undertaking succession
- Farm succession and transition planning and implementation
- Planning for transition of control and leadership in the business
- Review of business and value acceleration strategies
- How to maintain and grow Wealth within the family
- How to integrate and transition wealth across generations
- How to integrate estate planning into the family system
- Family and individual focused planning to develop the family’s most important assets, its people
- Developing a road map for the future to plan for the unknowns
- Formalizing family governance and policies
If you have any questions about this article or any services related to a Family Enterprise Advisor (FEA), please connect with Zach Keith or contact the Avail CPA Help Desk using the form below.
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