If a family-owned company is to endure and provide the maximum potential opportunity for future generations, it must plan for provision of both adequate shareholder liquidity and sufficient business capital. Many believe their options are limited: restrict money available to the family; sell the business; or go public. Rather than allowing financial pressures to destroy the family business, careful planning and sophisticated use of the growing collection of financial techniques can help the family retain business control and make wise choices among many available alternatives. Financing Transitions is a guide to * anticipating and managing capital and liquidity needs * understanding how the "Family Effect" can be a family business' greatest asset--or its greatest threat * recognizing how predictable family business transitions can erupt into family crises * keeping patient capital from becoming impatient; * controlling the family business's cost of capital; and much more... Financing Transitions: gives business owners the financial insight and understanding needed to provide future generations with the fullest possible opportunity to enjoy the unique benefits of business ownership.
This book is the first comprehensive assessment of the state of low-carbon investments in Asia, analyzing the rationales, mandates and public–private financing activities. Based on the experiences of several regional initiatives wherein public financing is catalyzing private investments in low-carbon infrastructure, this book proposes a framework that can be used as a tool to identify factors that influence private investment decisions and policy instruments that can scale up the private capital. Placing the Asian economies onto a low-carbon development pathway requires an unprecedented shift in investments. This book addresses this situation by asking questions such as: • What is the central role of private finance in achieving the Paris Agreement targets? • What key policy levers and risk mitigation can governments use in an effort to unlock the potentials of private capital? • How can regionally coordinated actions hold significant promise for scaling up private investments?
This book establishes the principles and patterns necessary to laying the foundation for capital and liquidity planning. Through an in-depth examination of financial situations, it leads family businesses to making wise, well-timed choices about the future of the business and the family.
Consumer (co-)ownership in renewable energy (RE) is essential to the overall success of Energy Transition. In June 2018, the European Union agreed on a corresponding enabling framework as part of a recast of the Renewable Energy Directive (RED II). The transposition of these comprehensive rules – in particular those on local RE communities – requires developing, implementing and rolling out business models that broaden the capital participation of consumers. The challenge is to include municipalities and/or commercial investors like SMEs and advance to economies of scale while retaining the benefits of individual consumer participation. This book is addressed to energy consumers in local communities, their municipalities and to the policy makers who represent them. Additionally, non-EU countries, in particular those where rural areas have limited access to energy, e.g. in Asia, Africa and Latin America, may be interested in the benefits of consumer ownership. While demand for energy in developing countries is growing, access to energy is crucial for improving the quality of life. The editor of this book presents a new model of consumer ownership in RE for both the EU and countries worldwide. Part One describes the rationale for consumer ownership in RE with regard to social, organizational, legal and financial conditions. Part Two discusses the issue of financing RE and introduces a new financing technique, the Consumer Stock Ownership Plan (CSOP), comparing it to traditional models. Part Three provides 18 country studies from Europe, North America, South America and Asia, organized so as to enable a cross-country comparison of policy approaches and feasibility. Policy recommendations are based on the results of this survey. Part Four summarizes, compares the best practice cases, presents a cost-benefit analysis of “prosumage” and against this background evaluates the impact on future policy.
This collection examines the design of financial systems for central and eastern European countries engaged in the transition to market-based economies. It highlights the need for better approaches to measuring performance and providing incentives in banking and for financial mechanisms to encourage private-sector growth. Written by leading European and North American scholars, the essays apply modern finance theory and empirical data to the development of new financial sectors.
The Authoritative M&A Guide for Financial Advisors Buying, Selling, & Valuing Financial Practices shows you how to complete a sale or acquisition of a financial advisory practice and have both the buyer and seller walk away with the best possible terms. From the first pages of this unique book, buyers and sellers and merger partners will find detailed information that separately addresses each of their needs, issues and concerns. From bestselling author and industry influencer David Grau Sr. JD, this masterful guide takes you from the important basics of valuation to the finer points of deal structuring, due diligence, and legal matters, with a depth of coverage and strategic guidance that puts you in another league when you enter the M&A space. Complete with valuable tools, worksheets, and checklists on a companion website, no other resource enables you to: Master the concepts of value and valuation and take this issue “off the table” early in the negotiation process Utilize advanced deal structuring techniques including seller and bank financing strategies Understand how to acquire a book, practice or business based on how it was built, and what it is capable of delivering in the years to come Navigate the complexities of this highly-regulated profession to achieve consistently great results whether buying, selling, or merging Buying, Selling, & Valuing Financial Practices will ensure that you manage your M&A transaction properly and professionally, aided with the most powerful set of tools available anywhere in the industry, all designed to create a transaction where everyone wins—buyer, seller, and clients.
This book is going to challenge you and everything you think you know about succession planning. For independent advisors, succession planning is quickly becoming the cornerstone to a strategic growth strategy designed to perpetuate their business and their income streams beyond their own lifetime, while providing a multi-generational service platform that attracts and rewards younger advisors. This makes succession planning one of the most, if not the most, important practice management tools in this industry today. As an independent financial advisor, now is the time to address the question of what will happen to your practice and your clients after you “exit the building.” In most cases, the answers are right in front of you. Thankfully, Succession Planning for Financial Advisors: Building an Enduring Business has arrived to transform today’s practices into businesses designed to endure and prosper and serve generations of clients. Learn how to create a “Lifestyle Succession Plan” that can provide a lifetime of income and benefits to the founder even as he/she gradually retires on the job Unlock the power of equity management – the best planning and building tool an independent advisor owns Learn how to attract and retain the best of the next generation to help you build a great business and to support your succession plans and care for your clients and their families Determine precisely when to start a formal succession plan and related continuity plan so that your business can work for you when you need it most Understand why succession planning and selling your business are completely different strategies, but how they can complement each other when used correctly 95% of independent financial service professionals are one owner practices. To the positive, these practices are among the most valuable professional service models in America. But almost all advisors are assembling their practices using the wrong tools – tools borrowed from historically successful, but vastly different models including wirehouses, broker-dealers, and even OSJ’s and branch managers. Revenue sharing, commission splitting and other eat-what-you-kill compensation methods dominate the independent sector and virtually ensure that today’s independent practices, if left unchanged, will not survive the end of their founder’s career. It is time to change course and this book provides the map and the details to help you do just that. For independent practice owners and staff members, advisors who want to transition to independence, as well as accountants, attorneys, coaches and others involved in the financial services space, there are invaluable lessons to be learned from Succession Planning for Financial Advisors. Written by the leading succession planning expert in the financial services industry, former securities regulator, M&A specialist, and founder of the nationally recognized consulting and equity management firm, FP Transitions, David Grau Sr., JD, has created an unmatched resource that will have an enduring and resounding impact on an entire industry.
This is an important study of the crucial issue of alternatives in commercial and public support of broadcasting in the U.S. and Europe. The Peacock Committee on Financing the BBC, a committee sponsored by the British government, commissioned Jay Blumler and Tom Nossiter to investigate the impact of alternate ways of financing the BBC on the range and quality of broadcasting. They then commissioned papers on broadcasting financing in the United States, Canada, the Netherlands, France, Italy, Sweden, Germany, Australia, New Zealand, and Japan to answer the question: "Should the BBC allow some commercial support in financing?" This is an essential collection for broadcast policy-makers and researchers.
This edition of the OECD Sovereign Borrowing Outlook reviews developments in response to the COVID-19 pandemic for government borrowing needs, funding conditions and funding strategies in the OECD area.
