TRANSITIONING A FAMILY COMPANY TO FAMILY MEMBERS I’m going to highlight the key points and takeaways that I have experienced personally as a business owner and father, Family Office specialist, a facilitator and a non-executive director. Mothers and fathers of family-owned companies want to safeguard future generations and those around them that they choose to support. They live, breath and sleep the company is the mothership that must be protected at all costs because it is the protection of them personally and the future financial protection of those they care about. Transitioning a family c ..read more

WHY LOOK AT FAMILY OFFICE SECTOR? Thanks for spending some time with me listening to this episode: Why look at Family Office sector? I know you’re going to enjoy listening to some practical information about the reasons and journey some take to look at the Family Office space. Today, I’m speaking with Antony Selby who will provide us with his pathway-to-date in looking at the Family Office sector and what he has discovered, liked and disliked. Antony, welcome to Family Office with Lance Meikle podcast. Antony, it’s a real privilege to be chatting with you today particularly because I know what ..read more

WOMEN IN FAMILY BUSINESS VIA A MULTI-GENERATIONAL OUTLOOK The next generation of family business owners are shifting the conversation around diversity and purpose and the need to adapt governance practices for improved performance and succession planning.   According to international research by KPMG and the STEP Project, published in KPMG Family Business Planning Diversity Entrepreneurship report; In Australia, family businesses provide 55% of private sector employment Only 31% of global family businesses had women on the board, while only 18% of current family businesses were female ..read more

IS BEING A PRIVATE WEALTH CLIENT THE SAME AS A FAMILY OFFICE? The short and simple answer to the episode question is no. As a Certified Financial Planner, I have both had, and have, clients that would fit under the label “Private Wealth”. However Private Wealth is simply a subset of a Family Office. By the very name Private Wealth, wealth has a singular focus and outcome, based around metrics, whereas Family Office is about families, legacy, emotional intelligence, purpose, values and a structure for intergenerational transfer of wealth and reduction of intra-family disputes. Private wealth ha ..read more

Private Ancillary Fund (PAF) A Private Ancillary Fund (PAF) is a trust fund for businesses, families and individuals and set up under the Taxation Administration (Private Ancillary Fund) Guidelines 2019. The trust fund is controlled by a company usually with family members as directors and at least one independent “Responsible Person” director (someone with a degree of responsibility in the community). A private ancillary fund (PAF) is a type of charitable trust that offers an effective and strategic way to manage your philanthropy. You donate money into the PAF, receive an immediate tax deduc ..read more

My co-host is Allan Bennett, Patriarch, of Bennett Family Office. Allan started a Family Office in 2016. Both Allan and his amazing wife, were former clients of mine, when I was providing high-end personal advice. I’m sure there will be more about this experience and journey soon.  Allan, it’s a real privilege to be co-hosting with you today for plenty of reasons however, the no.1 reason is my gratitude for both you and your wonderful wife being brave enough to 1) place trust in myself and the Family Office message that I brought to you; and 2) pre-pay as a client for 10 years which enabl ..read more

WHAT OPTIONS EXIST OTHER THAN A FAMILY OFFICE? If you are exploring Family Office as a structure | solution, what are alterative options? • DIY – where you do everything. You go from meeting to phone call to meeting to email to meeting to email to phone call and on it goes.  • Hybrid – you outsource some of the functions of what you are wanting to achieve. • Private Wealth & an Accountant What are the pros and cons of DIY? | What are the pros and cons of Hybrid? | What are the pros and cons of Private Wealth & an Accountant? Why a Family Office is the optimal solution | structure ..read more

TAX LIENS IN THE UNITED STATES Tax liens are nebulous investments because people hear about high interest rates and potential properties for cents on the dollar, but it’s really a legal matter. Melanie is the CEO and founder of Tax Lien Wealth Solutions (which she started in 2017). Melanie is a woman winning in the financial world. She is a subject matter expert on tax liens. Her passion is in adding value to other people’s lives. Melanie is the First Female to become a Certified Tax Lien Professional by the National Tax Lien Association, the governing organisation over the tax lien industry i ..read more

WHY NOT A FINANICAL PLANNER OR ACCOUNTANT? What are the common triggers for starting a Family Office? They are: ensuring that wealth is transferred to future generations preserving family wealth consolidating assets dealing with a sudden influx of liquidity solving family conflicts; and increasing wealth management efficiency. Family offices have also gained prominence because of wealth-holding families’ desire for greater control over their investments and fiduciary affairs, as well as lifestyle management. Investment Mandate Timeframe for investment decisions: Short term = 20 years Med ..read more

WHAT ARE THE BENEFITS OF A FAMILY OFFICE? My co-host is Chloe Arthur who made the change from being a Financial Planner in 2018 to being an Adviser to Family Offices. Chloe is happily married to Shane and they have two amazing daughters, Emily, and Matilda. Hi Chloe and welcome to Family Office with Lance Meikle podcast. It’s a real privilege to be co-host with you today. Let’s get started by you telling our amazing audience about yourself; and how we met Q: What is it you like about Family Offices? Q: What how your found to be the difference between being a valued high-end Financial Plannin ..read more