Andy Gowers launched into succession planning and wealth management driven by personal experience and a deep desire to families and business partners better manage inter-generational wealth. Over 2 episodes he talks about the important but often under-appreciated steps in a successful and harmonious succession plan.

Show Notes

@andygowers  is a #successionplanning and #wealthmanagement  expert. 

He's got a business marketing degree and financial planning diploma . His professional background includes;

He's launched a new business in Succession Planning (with  David Naphtali) and was recently appointed #president Hawthorn Football Club.

This is part 1 of 2 episodes. Over the 2 episodes we talk a lot about succession planning and #exitplanning for private and family businesses, and cover;

  • what he learned growing up in a family #smallbusiness;
    • living in an environment which was on reflection high-stress, where a lot of things that weren't  said caused more problems than the things that were said,
    • and how this led to his fascination in succession planning, and  helping as many families and businesses that he can to address these issues
  • what he learned when working in the wealth management area of #ANZbank during the #GFC
  • the #pyschologyofInvesting
  • the #startup of his own wealth management business with a partner and selling that after 11 years
  • why  the financial planning discussion was really important to get the the management of people's wealth right but recognising bigger picture to be drawn was #succession
  • his mission to help #families (and avoid the potential downsides of wealth)
  • #financialgreed 
  • why #communication is so vital
  • #entitlement and expanding families
  • the mechanics of succession or exit planning
  • the critical role of an independent expert to guide discussions
  • the #nuclearbutton that can trigger when some sibling or a family member says well bugger you I don't care about the rest of you I'm doing this ......
  • why you need honesty but you need #sensitivehonesty
  • #founder #purpose
  • succession in the #royalfamily #farmingfamilies
  • the importance of ensuring your #shareholdersagreement is up-to-date
  • #businesspartners
  • #insurableexits and #uninsurableexits
  • the special role of the #trustedadvisor
  • setting #rulesofengagement
  • the reality of true succession planning that not everybody's going to cut it

@kerrcapital

@Michael Kerr


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