Frank, outspoken, open, and sincere family communication has been a theme throughout the Family Business Institute’s history. Established in 1995 and born out of a growing frustration that traditional family business counseling and financial planning left so much unsaid and undone, the Institute began offering services that not only addressed financial issues but also interpersonal, management, ownership, transition, operational, and strategic ones as well.
The Institute was created by a father/son-in-law team: Tom Campbell and Wayne Rivers. Tom had worked in his own family radio business for 24 years with his father, mother, and two brothers, while Wayne had spent a decade working in the financial planning industry.
The Family Business Institute sprang to life as Mr. Rivers was discussing one of his recent assignments with Mr. Campbell. After a well known entrepreneur spent several hundred thousand dollars for a “high- profile” consultant, Mr. Rivers had been hired as a planner after having identified several gaping holes in the recommendations of the original consultant. Subsequently, he was able to repair and then improve upon the work of the recently departed "expert".
After expressing considerable frustration with fact that he could better serve the interests of families and their businesses than the so called “experts,” Mr. Campbell concluded that Mr. Rivers’ problem was marketing. Within a few months, the Family Business Institute was operational. Although Mr. Campbell has since stepped away from the business, it is still solely owned and operated by co-founder Wayne Rivers. It is headquartered in the beautiful North Hills business district of Raleigh, North Carolina, and serves clients throughout North America.
The mix of the Family Business Institutes clients is roughly 70% family and 30% closely held businesses. Because of the diversity of industries and scope of client needs, the Institute has continued to expand its offerings by developing internal talent as well as strategically partnering to better serve its market.
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History
