#72: Navigating Succession: Aligning Families, Growing Wealth & Protecting Legacies with The Lord Family - Lord Pastoral

AgriCoach Wealth & Wisdom Podcast by The Financial Bloke

Welcome to a BONUS episode you won't want to miss, especially if you're navigating the complexities of family business succession! With a huge thanks to RaboBank and Gen McAuley, this interview was recorded at Beef Australia 2024.
This incredible conversation captures the heart of effective succession planning, featuring the Lord family of Lord Pastoral who are based in NW QLD. Their journey is filled with lessons on alignment, communication, and overcoming the challenges that many family businesses face.
Discover how Ardie, Kacie, Nikko, and Jade Lord managed to align their family's vision and roles, tackling tough issues head-on rather than avoiding them. You'll hear about the importance of connection and communication in maintaining family harmony and the unique dynamics when a new family member, like Jade, comes from a non-farming background. Nikko shares insights on handling family disagreements and the significance of involving off-farm siblings in the business.
Join us for a candid discussion that blends personal growth with financial success and learn how the Lord family keeps moving forward with structured family meetings, clear roles, and a culture of curiosity and accountability. This episode is packed with valuable takeaways for anyone involved in a family business. Please share it with those who could benefit and listen again to catch all the golden nuggets that can help you succeed in your own journey.
Tune in to gain practical advice from a family that's been through it all and is still navigating the path of succession with courage and humility. Don't miss this chance to hear first-hand from the Lord family and apply their wisdom to your own family business challenges.
Unfortunately, the audio quality isn't as good as usual due to being recorded at a live event. If you would prefer to watch the video footage instead, it can be viewed here: https://youtu.be/wmvVnK5To0k

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Ben spent over 20 years working with successful business owners and farming families which allowed him to unearth the timeless principles on how to successfully grow, protect and maintain wealth.
If you want to learn the principles of how to grow your family’s wealth throughout the generations, then you might consider joining The AgriCoach Podcast each fortnight for more Wealth & Wisdom.
Disclaimer: The information contained in this podcast is general in nature and for education purposes only. It is not financial advice. It is not legal advice. No one should act on the information without appropriate specific advice for your particular circumstances. Ben Law is a former financial advisor but is no longer licensed and cannot and will not give you specific or personal advice in this podcast. The Financial Bloke Group Pty Ltd accepts no responsibility for any loss or damage occasioned by any person acting or refraining from action as a result of reliance on the information in this podcast.
https://thefinancialbloke.com.au/