AUT2216. Dealer Family Succession Planning: Role of the CPA & Controller

As advisors to our clients, we can often see the potential for family business issues. Fear, loss of control, and anxiety over conflict generally act as roadblocks to change. Transitioning leadership from one generation to another is ripe with potential conflict. Generational and leadership differences; unexpressed or misaligned expectations can paralyze Dealers to make the smallest of tweaks towards a better outcome. However, creative problem solving can happen once a Dealer, their leaders, and family can safely share their visions, concerns, and opportunities. Safe is key here, as personal feelings are often met with conflict, which creates the fight, flight, or fawn in addressing key issues impacting long-term family and business success. In this session, we will discuss strategies advisors can leverage to motivate Dealers to address issues impacting their vision: * Strategies to minimize fear and anxiety and encourage clients to address issues affecting their vision * Governance strategies to empower Dealers to transition operational responsibilities to develop next-generation leaders     * Organizational structures to professionalize the family business and compete amongst consolidation     * Who should be a part of your succession planning team & when to put them into the game You will walk away from this session with creative strategies to facilitate your client’s vision.

Learning Objectives:

• Identify strategies to minimize fear and anxiety and encourage clients to address issues affecting their vision
• Recognize governance strategies to empower Dealers to transition operational responsibilities to develop next-generation leaders
• Analyze organizational structures to professionalize the family business and compete amongst consolidation
• Determine who should be a part of your succession planning team & when to put them into the game