Lea Boyce
Director
BOYCE Family Office

What generation is your family business?

BOYCE Family Office is first generation with the second coming through. However, the family is 5^th generation of a long line of various generational family businesses.

What is your role in the family business?

Project magement of our investments across property and businesses, our family philanthropy program and the great trait of family business is that I can flex and develop areas that are meaningful and that I want to engage closely with.

What/ who is a major influence for you in the family business?

To grow a sustainable multi generation business to benefit future generations and the wider community. We aim to make a difference and leave a legacy.

What keeps you up at night?

I have learnt the key to not being kept up at night is list writing, if I wake thinking of something I write it down so I can sleep knowing that I wont forget it and can address it in the morning

What’s the key benefit of your FBA membership?

To collaborate, share knowledge, gain insight and develop networks of people who are as passionate about family and family businesses as I am.

Having now joined the Victoria State Committee with FBA I hope to meet many more members and advocate on their behalf to continue to build an organisation that supports and celebrates family businesses.

FBA Accredited Adviser

Gordon Thoms
Founder and Principal
Calibre Private Wealth Advisers 

How long have you been working with family businesses?

Since 2005 when I left my corporate financial services career to establish a boutique, client centric advice practice focused on the needs of family businesses and business owners.

I am passionate about serving the wealth management needs of my family business clients because in my 26 year financial services career l know which financial strategies do work – and which ones that don’t

What’s one of the most common mistakes you see in family businesses?

From our perspective, we find there is often not enough communication and ongoing financial education for family members. Talking about finance and money, especially at a family and personal level is often not done between the founders of successful family businesses and the next generations, often leading to a lot of frustration and resentment within the family

Encouraging good financials habits early on and helping individuals within the family to first be accountable for their own finances is paramount. If family members become better at managing their own financial affairs then they will be better equipped for any future succession of family wealth

What is your “uh ha” moment with your clients? When they realise…

….that in the grand scheme of things money is not that important! It’s significant only to the extent that it allows you and your family to enjoy the things that are most important to you

In our experience , many family business owners know WHAT they do and many are even clear on HOW they do it , but few have given enough thought to WHY they are doing it  .Without this to reflect on they can be prone to making poor financial decisions.

The WHY should always come first as it helps us define the really important things we are seeking to achieve in our lives and ultimately helps inspire us to take action. This may include many things like:

• financial security for your family
• more balance & flexibility in your life
• better family relationships
• being a good role model for your children
• helping others in your community who are less fortunate

As Walt Disney’s brother Roy once said, ”When your values are clear, your decisions are easy “. His premise was that having values clarity helps us make better decisions. We agree with this premise and this is the basis on which we initially engage with all our clients
[/special_functionality_column][/special_functionality_row]