Family Business Adviser Accreditation Policy
FBI’s primary focus is on the delivery of highest quality advisory services to families in business. This requires every FBI-accredited adviser to have the right attitude, knowledge, experience and skills to deliver the services their clients need and deserve.
FBI accreditation is therefore based on our Accreditation Panel’s assessment of each adviser’s demonstrated ability, and proven willingness, to acknowledge and address their clients’ human and commercial issues in the most constructive manner possible. This requires each adviser to possess and utilize appropriate knowledge, attitudes, skills and professional networks.
Accreditation is awarded by the FBI Accreditation Panel – whose accreditation decisions must be unanimous. The Panel comprises 3 members of FBI’s Faculty.
If a decision by the Panel is appealed by an adviser, the current FBI Chair is required to make a final and binding decision, based on written and/or oral submissions.
The Accreditation Panel bases its assessments on observations and feedback from 3 key elements of practice:
1. Existing training, knowledge, experience, skills and judgement.
2. Demonstrated attitudes and competencies during: (a) FBI’s compulsory 12 day Accreditation Training Program and (b) networking events.
3. Supervised practice under the watchful eye, support and tuition of an assigned mentor, over at least 18 months, with 3 or more family business clients. For most advisers, competence will be developed, demonstrated, assessed and approved through 18 months of supervised practice
Since demonstrated attitude and competence are the key determinants of accreditation, we’re quite relaxed about each individual’s accreditation pathway. We recognise that some advisers will join us with enormous amounts of relevant knowledge, skill and experience and we’ll happily take that into account in their accreditation process – further confirming that FBI is an adviser-led professional organisation, rather than a bureaucracy.
Accreditation is maintained by:
(a) Continuing successful advisory work (via client feedback).
(b) At least 2 days’ attendance each year at educational events relevant to advising families in business (not restricted to FBI activities).
(c) Active engagement in the FBI adviser community through meetings and online activities.
(d) Maintaining a good personal reputation in all areas of professional activity.
(e) Completion of a brief “Confirmation of CPD and Advisory Activities” each year – confirming adequate levels of: (a) CPD activity and (b) advisory activity in the year. (We accept that a lot of advisory practice works on “feast or famine” cycles).
To help create a community of seriously committed and competent adviser members, we may regard failure to achieve accreditation within 3 years of commencement, in combination with other indications of lack of engagement, competence or real commitment, as grounds for disqualifying an adviser from continuing along the accreditation pathway they commenced 3 years earlier.
The Accreditation Panel can require any adviser to explain why they should not be so terminated. The Panel can make a binding determination on the issue, subject to the requirements of natural justice and procedural fairness.