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We understand that each family-owned business has unique ambitions, growth plans, widely differing personalities and unlimited combinations of interrelationships among individuals and entities. The Baker Tilly family business strategy group knows there isn’t one way to manage a family business and our team is dedicated to helping families realize and achieve their business and family objectives.

    We have specialized services just for family-owned businesses

    As a family-owned business, you’ve built your livelihood on your values. They are what drives your company forward and they are reflected in everything you do. As your business and the world evolves, these values stay constant, guiding you and your company into the future.

    Yet, even the best laid plans and most profitable companies can be deterred from growth by changing family dynamics, internal conflicts or not planning for the future.

    At Baker Tilly, our family business strategy group understands the challenges you and your company face. Our team serves as a holistic and proactive group of advisors developing comprehensive plans to leverage the power of our collective, specialized knowledge.

    No matter your market, industry or where you are on your family business journey, our team has the expertise to jump in and help get your business, your portfolio companies or your individual family members where they need to go.

    Estate planning and wealth preservation

    • Ensure financial security for yourself and generations to come with a detailed estate plan. We develop a plan with you that realizes your family, business and charitable legacies, all while minimizing your tax impact.

    Exit strategies and ownership transition

    • Deciding to move on from your family business is no easy decision, and taking over a family business is no easy feat either. We can help ensure a smooth transition by determining strategic and viable options that align with your personal and company goals. We can also assist with outside buyer transactions, ownership structures, next generation transition or recapitalization of the company.

    Family dynamics and conflict resolution

    • When family conflicts arise, our family business strategy team can skillfully mediate and address these critical and sensitive issues. Our team understands how to address problems around ownership, roles and responsibilities, financials and the future of the business, while maintaining a focus on the goals of the business and each individual family member.

    Family enterprise strategy

    • Strategic planning is never a simple task, but when you add the layers surrounding family vision, values, financial goals or succession, things can get really complicated. With the family business strategy group on your side, together we can determine the best path to turn your family and business goals into reality.

    Family governance

    • A little structure can go a long way, especially in a family business where relationships and emotions can get in the way of making decisions and managing the company. Our team helps address the challenges around a formal board structure, policies, internal controls and accountability by developing a strategy that incorporates the back office processes and procedures required to run your family business efficiently and effectively.

    Growth strategy

    • Whether you plan to sell your family business or continue to build it, having a well-crafted growth strategy is key to growing the enterprise value. We work closely with you and your management teams to develop these strategies to grow value and reduce risk.

    Leadership assessment and development

    • Ready to retire, but not sure how to determine who will take over your family business? We work with you to prepare a leadership succession plan, including identifying potential future leaders, timing and development plans.

    Next generation development

    • You’re ready to transition your family business to the next generation, but want to make sure they have the tools they’ll need to be successful. We work with your next generation of leadership to prepare them for the unique family business dynamics they’ll encounter and the future of the business.

    Wealth management

    • Our team offers integrated financial planning, retirement and risk management services to individuals and families. We embrace a unique values-based approach which systematically aligns financial decision making with the stated passions and long-term priorities of individual family members.
    Our approach

    Family Business Strategic Assessment

    Our process starts with a family business strategic assessment that allows our team to get to know you and your business. We spend time with you to learn about the challenges your family business faces, your opportunities for growth and what you hope to accomplish in the future. Then, we develop a strategic plan and a step-by-step roadmap to help get you there, while supporting you on your way.

    Our team understands the unique challenges and opportunities of family-owned businesses. We know the value family-owned businesses bring to our economy by accounting for 64 percent of U.S. gross domestic product and generating 62 percent of the country’s employment. At Baker Tilly, your business and your challenges guide our approach to ultimately help achieve your goals.
    Gary A. Plaster, Baker Tilly Principal, MBA