Parallel Session

Charles Dickens wrote “it was the best of times; it was the worst of times…” these words could also be used to describe family businesses with human dynamics often tearing many families apart.

Throw into a “normal” nuclear family business dynamic a blended family and statistically the odds go against a peaceful existence.

This panel brings together four women with experience both personally and professionally with divorce, second marriages, divorce again, business splits and the large sale of a successful IT business to a publicly listed company.
The panel will discuss: how to protect your business through a divorce; Estate Planning considerations from practical experience with biological and step children; and the importance of managing perception v reality in regards to the businesses financial success.

As family businesses expand from their entrepreneurial beginnings, they face unique succession challenges.
When the son of German migrant, Alfred Neumann, moved from Laidley to Currumbin in 1922 with hopes of making a modest living as a builder and cabinet-maker, he had little idea that he would one day launch an empire that would employ three generations and become one of the Gold Coast’s oldest families in business.
The Neumann Group, quite literally, has shaped the Gold Coast into one of Australia’s fastest-growing cities. Whether it be canals dredged by Neumann Contractors, steel in the high-rises by Neumann Steel, concrete and quarry products in its infrastructure by Nucrush Group, or land developed by Neumann Developments.
But as the family business has grown to a multi-faceted organisation with an increasing number of family shareholders, and with few working in the business, where does the company go from there?
Third and fourth generation family members Bill Neumann, Kathy Conforti and Blake Neumann will share the challenges this creates for Next Generation family members when there is an exceptional legacy to preserve.

In the last 2 to 3 decades, and more recently over the last 5-10 years, the pace of life and the competition around us has increased at an alarming rate. Many struggle to cope with pressure, crisis or persistent hardship, but others may emerge strengthened and more resourceful.

Like any group of individuals, family members will react differently and understanding their behaviour (being empathetic for example) can effectively promote roles and well-being in the family and family business.

During this session, Dr Darryl Cross, a clinical and organisational psychologist and FBA Accredited Advisor will explore individuals and their differences; understanding who your players are; and how to “Strengthen your families resilience”.

Key takeaways will include: How do we understand individual differences; What are the 5 key stress emotions and what to do about them; and What are the keys to increasing resilience for the family and for the individual.

FACT – 70% of all wealth transitions from one generation to the next, fail. These number grow to over 90+% for the following generations.

Importantly, we know that in 95% of these cases, the wealth transition failures are caused by one or more of the following “family dynamic” factors including lack of trust within the family, communication issues within the family, the next generation not being prepared or a lack of a clear purpose of the family’s wealth.

Family dynamics play a much greater role in successful wealth transfers than previously understood. There is a reason behind the saying…”Shirtsleeves to Shirtsleeves in three generations”.

Key to success is preparing the family members today for their roles and responsibilities tomorrow. Part of that preparation is giving family members responsibilities in relation to the family’s assets, whether or not that involves a role within the business.
Join Brad Scott and a panel of family business leaders as they examine the relationship between the family office and family dynamics.

Now in its third generation, Raptis grew from humble beginnings when Arty’s and Arthur’s grandfather Athanasios Raptis migrated to Ceduna, SA from Greece in the 1930s before opening up a fish and chip shop in Adelaide. Soon, Athanasios Raptis began filleting his catch for local shops and, within a few years, his entrepreneurial spirit had spread to his four sons and daughter, who developed the business into seafood wholesale and retail businesses.

Today Raptis is one of Australia’s largest private vertically-integrated seafood companies and diversified property investors. The past decade has seen the transition of responsibilities from the second to the third generation family members, although the journey to continue the legacy hasn’t been all smooth sailing.

Hear from cousins and third-generation family members Arty Raptis, CEO of Raptis Seafoods and Arthur Raptis, Executive Director, Raptis Investments on how their different pathways to leadership have helped them navigate through rough seas.