Founded in 1986 as a professional membership association, the Family Firm Institute (FFI) has grown to become the premiere international body for advising and research in the family business and family wealth fields. FFI’s founders - a group of pioneering professionals and family business executives - recognized the need for interdisciplinary collaboration in the family business field. The Institute’s founding mission focused on three key priorities:
- Host an annual conference to convene members from across the globe
- Facilitate regional study groups and workshops to promote grassroots peer-to-peer networking for the sharing of common problems and challenges
- Publish a journal that would combine research findings and their implications, conceptual ideas, contributions to practice and theory, and case studies.
From the founders’ vision, FFI today continues to grow in its commitment to providing education and networking opportunities for the advisors, consultants, educators and researchers who serve the fields as well as in raising public awareness about trends and developments. The Family Firm Institute is a not-for-profit organization, pursuant to section 501 (c)(3) of the Internal Revenue Code.
Serving as a Driver of Economic GrowthAs the dominant form of business organization worldwide, family enterprises play a leading role in the social and economic wealth creation of communities and countries. FFI is the leader for professional education and academic research in a field that is a driving force in the global economy. It is comprised of more than 1,500 individuals and organizations with 65% of members based in the U.S. and 35% located in countries throughout the world.
Nearly 75% of the members are advisors or consultants in family business or family wealth, 21% are educators or researchers, and 4% are students. Professional members include attorneys, accountants, family business consultants, family office directors, family philanthropy managers, financial services advisors, management consultants, psychologists and therapists. Education members include entrepreneurial/business professors, family business forum directors, and researchers.
In the past twenty two years, FFI has produced annual conferences in cities across the U.S., in Canada and England; and regional seminars in the U.S., Canada, Europe and Latin America. A growing number of study groups and chapters provide additional collaboration along with those of related organizations and academic institutions.
FFI’s quarterly international journal, Family Business Review, is published by SAGE and is the only scholarly publication devoted exclusively to exploration of the dynamics of the family-owned enterprise. The SAGE publishing partnership, launched with the March 2009 issue, delivers for readers of Family Business Review on line and the libraries that subscribe to it the most innovative Web 2.0 interactive features in the industry. The Institute’s online journal, FFI Practitioner, focuses on topics of special interest to the advising and consulting communities, and a weekly e-newsletter, FFI on Friday keeps members abreast of FFI developments. The Body of Knowledge book is published online as an extensive compendium of resource guides, practice papers, and ongoing commentary on content from FBR. It provides members with the most current thinking and practice innovations on an array of family business and family wealth management issues.
Upholding the Highest Standards in Professional Practice and EducationAs the global leader for research and dissemination of best practices in the field, FFI provides an integrated program of cross-disciplinary education among various professions, focusing within FFI’s core disciplines of behavioral sciences, finance, law, and management science.
In promoting the highest standards of family business practice, FFI offers its members two certificates: Family Business Advising and Family Wealth Advising. These designations distinguish FFI members as having achieved significant professional knowledge, which benefit family business owners and the clients of family wealth advisors. Certificate holders in Family Business Advising who meet certain criteria may be designated Institute Fellows. FFI’s Code of Professional Ethics obligates all members to maintain the highest standards of professional conduct around issues of disclosure, acknowledgements, representations, confidentiality and conflicts of interest.
Each year, at its annual conference, FFI recognizes outstanding contributions to the field by bestowing four awards for professional achievement and two awards for academic accomplishment - including for Best Dissertation and Best Unpublished Research Paper.
A Board of Directors comprised of distinguished family business professionals and researchers provides the strategic vision and oversight for the Institute’s growth and development while various Leadership Committees are charged with supporting the implementation of FFI’s programs. A Family Business Advisory Committee has been formed to provide the FFI board and management with timely advice, commentary and broad-based information on the international family business world with particular attention to the educational and advisory needs of family-owned enterprises and family offices.
As it approaches the twenty-fifth anniversary of its founding in 2011, the Family Firm Institute is poised for continued growth and leadership built upon a foundation of program excellence for its members and an expanding role as an essential resource to family businesses, governments, institutions, and the public at large. |
