Page 2 - Family Business Institute

? Q. What do Business Families really need?
A. Advisers that are Agile & Trustworthy

Family + Business = Complexity.

Add an aging entrepreneur / founder / leader, sprinkle in some “interesting” family
dynamics, and the result is an eye watering spread of issues and challenges for clients …
and huge opportunities for advisers.

These clients need and deserve more than traditional, technical, transactional services.
They need a broader range of services, and a more “human” approach, delivered by
mature, skilled advisers.

Their needs can’t be addressed by outsourcing, or by more technology. Agile is the new
advisory paradigm. Learn new skills, and offer new services, or be left behind.

Shrinking Fees and the Future of the Professions

“80% of current fees will shrink Traditional Professional Paradigm
to a quarter of their current
dollar value, within the next Client Focus Discipline Focus Client Focus
5 - 10 years.” (10%) (80%) (10%)

AI systems are automating information Diagnose Expert Implement
processing, data analysis and the provision Process
of “expert” advice.
AI / Expert Systems
The value of time-based fees will reduce
dramatically as traditional activities are Agile Adviser Paradigm
automated and commoditised.
Client Focus Discipline Focus Client Focus
Lost fees will only be replaced by: (30%) (20%) (50%)

(a) more volume (low margin) or, Diagnose

(b) human-skills work that computers Diagnose Expert Implement
can’t do (high margin). Diagnose Process

Progressive firms will strengthen client
relationships to provide a broader range of
human-skills services - especially front end
diagnostics, and back end implementation
support.

02 FBI Accreditation Program