The family accountant knows every dividend ever declared. The lawyer remembers the first trust deed. There is loyalty here, and gratitude. But there is also a feeling that the conversations have stopped evolving. For the next generation, this is a hard truth to sit with. Firing a parent's professional adviserfeels personal, almost disrespectful.

Most people assume it’s about the market, the right buyer at the right time and the right price. You might imagine there will be a moment when all the stars align, when the perfect economic and business cycles match your own life. But those stars rarely line up. If you wait for perfect certainty, you may end up waiting forever.

Walk down the main street of any Australian town and you’ll find them. The bakery that’s been in the same family for three generations. The transport company still run from a fibro office out the back of the depot. The vineyard where the children grew up running between the rows, now bringing in their own ideas about climate and technology. Family enterprises don’t just make up part of our economy, they carry the character of our communities.

In the current rush to reinvigorate Australia’s culture of giving, it’s hard not to be swept up in the positivity. Overlaying this practical tension is another layer. One where the emblem of reform masks an unforeseen fiscal dividend for Canberra.

For family businesses, the end to the financial year is much more than just a date on the calendar or a stack of invoices waiting to be reconciled. It is a time when the conversations shift from what happened last quarter to what comes next, not just for the business, but for the family running it.

Understanding the Challenges of Wealth The belief that significant wealth brings clarity and simplicity is persistent. However, the...

Family meetings are the best kind of reality TV because they offer all the suspense, conflict, and catharsis without the need for a TV deal. The parallels between family meetings and reality TV are uncanny. Reality shows thrive on conflict, negotiation, shifting alliances, and the unpredictable nature of human behaviour. The living room is no different.

At some point, though, every family hits a snag. Maybe it’s a disagreement over the future direction of the business, or maybe it’s just that old family dynamics rear their heads when the stakes are high. This is where an independent Family Adviser becomes worth their weight in gold.

When it comes to leadership transitions, few events are as steeped in tradition and intrigue as the papal conclave. While the Catholic Church and wealthy families might seem worlds apart, the process of electing a new pope and planning for succession within a family business have more in common than you might think.

For many Australian family business owners, the timing of a sale often feels completely out of sync with the business’s growth cycle, the prevailing economic winds, or the evolving plans and aspirations of the family itself. If you’re grappling with this conundrum, you’re not alone—and the path forward is rarely linear.

Welcome to "Beneath the Canopy" - Canopy East's monthly update on the world of family wealth management.

Welcome to "Beneath the Canopy" - Canopy East's monthly update on the world of family wealth management.

Welcome to "Beneath the Canopy" - Canopy East's monthly update on the world of family wealth management.

Will the next generation look to preserve their family's wealth? Or continue a cycle of high levels of discretionary consumer spending while