First Look: The Family Enterprise Advisor (FEA) Program

After further exploring the new FEX (see First Look: The Family Enterprise XChange), I applied for admission to the Family Enterprise Advisor (FEA) Program, the prerequisite for the FEA designation. The 15 days of class time are spread over seven modules which take place during the calendar year. In addition to normal studying, there is a multi-month, multi-disciplinary team project.

The FEA Program is 7 modules spread over 15 days during the year, plus a team project.

I got accepted and attended the first module (Family Business Dynamics), which lasted two days. Here are first impressions of the overall program in Toronto.

(Since we weren't given a #hashtag or encouraged to raise awareness of the FEA Program or the FEX through social networks, I refrained from taking photos.)

The Room

My other courses at the Ivey Tangerine Leadership Centre took place in an MBA classroom with good acoustics and lots of electrical outlets.

This time we got a general room with rectangular tables in space often used for Western University social events.

The setup was excellent for table discussions but the ventilation system was noisy. Depending on where you sat and who spoke, listening could be challenging.

The Food

Serious studying requires a happy stomach. Food was plentiful and available all day. We got lots of variety, even for vegetarians (though I got a special meal).

The options were mainly healthy. The plates for snacks were small — a wise decision.

The Seating

When you enter a new room for the first time, where do you sit? You may have a spot you keep selecting out of habit. We were assigned seats. This worked well because you got to meet more people. Even better, we get assigned to a different table each day.

The Material

The content is in high quality binders. Colour printing on smooth, heavy, pre-punched paper is tough to beat. PowerPoint slides were limited to two per page, which helps readability. We also got a binder of pre-reading material and a 320 page hardcover book (Generation to Generation: Life Cycles of the Family Business).

While paper is convenient, I prefer also getting content in electronic format for easy searching, easy annotating on a Surface tablet and saving space. I'll scan the pages into PDFs and make my summaries of items that may be on the exams.

The Instructor

Wendy Sage-Hayward (profile) was excellent. She has real-life experience with family enterprises from working with them and being part of multigenerational one. This lead to solid, timely and relevant examples.

Wendy added content that wasn't on the slides. She encouraged ample participation even after "last call". She adjusted the content to fit the schedule without cutting down on our breaks. Wendy read the energy level of the group well and stayed cool during occasional issues with sound. She'll teach two more modules and I'm looking forward to her return.

The Students

As the hours passed, I saw that the cohort of roughly 30 students is excellent too. The process of self-selection and screening worked well.

Classmates had diverse backgrounds and experiences. They had different levels of experience with family enterprises. They participated actively. Several were attending from as far away as Montreal and Winnipeg.

Overall

Overall, the FEA Program looks very worthwhile. Your experience will vary depending on your commitment, your fellow students and your city (Toronto, Calgary, Vancouver). I'll provide more updates.

If you have questions, please ask. If you're part of the FEA Program, please share your experiences.

Image courtesy of 422737 via Pixabay.

Promod Sharma interviews insiders on Tea At Taxevity and shares insights on Question an Actuary, both on YouTube. He also helps families, individuals and businesses transfer financial risks with personal pensions and insurance.