Frank, outspoken, open, and sincere family communication has been the theme throughout the Family Business Institute’s history. Born in the 1990s out of a growing frustration that traditional family business counseling and financial planning left so much unsaid and undone, FBI began offering services that not only addressed financial issues but also interpersonal, management, ownership, transition, operational, and strategic ones as well.
FBI 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 Rivers was discussing one of his recent assignments with Campbell. After a well known entrepreneur spent several hundred thousand dollars for a “high- profile” consultant, Rivers identified gaping holes in the consultant’s recommendations. Rivers earned the job and went on to repair and improve upon the situation.
After expressing considerable frustration with the fact that he could better serve the interests of families and their businesses than other so called “experts,” Campbell concluded that Rivers’ problem was simple – poor marketing! Within a few months, the Family Business Institute was operational. Although Mr. Campbell has since stepped away from the business, it is still operated by co-founder Wayne Rivers. It is headquartered in Raleigh, North Carolina, and serves clients throughout the world.
The mix of the Family Business Institutes clients is roughly 75% family and 25% closely held businesses. Because of the diversity of industries and scope of client needs, FBI has continued to expand its offerings by developing internal talent as well as developing strategic partners to better serve its market.