Start with word-of-
mouth when
selecting farm
advisors but insist
on professionals
with an ag
backgound
Liz Robertson
Liz Robertson, executive director of the Canadian Association
of Farm Advisors (CAFA), likes the idea of team meetings,
which she thinks minimize the back-and-forth phone
calls between professionals.
Robertson says that opposing views arise in meetings
that can be beneficial, prompting professionals to look at all
angles.
While she sees boardrooms on some bigger farms, they
are not common yet. Nevertheless, she thinks the team
approach will grow in popularity, especially now that so many
farmers are getting financial training and so many young
farmers are choosing business and financial courses at
school.
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Along with skills in their respective fields, Robertson says
it s important to get advisors with a solid understanding of
farming. She recounts her experience as an investment advisor,
when she worked with a young farm family that missed
out on a major government program that the non-agricultural
advisors knew nothing
about.
Robertson says word-of-
mouth recommendations
are a good place to
start when seeking professional
advice. When
it comes to agricultural
expertise, she notes that
CAFA tests new members
on their agricultural knowledge.
Ninety per cent of
members have a direct link
to the farm, whether farming
themselves, coming from a farm background, or having a
spouse or other relative who farms.
Robertson suggests being open-minded as you get into
the process. You might find, for instance, that it s good to
expand beyond the traditional legal and accounting input to
include expertise such as human resources.
Some skills may be needed at certain stages in the life
of the farm, but not be needed at others. Robertson gives
the example of a farmer she met who worked with his lawyer
and financial planner to build a succession plan. The only
hitch was that the farmer had a dairy operation, and a son
who liked to sleep in late. While the plan looked good on
paper, it wasn t a good fit when considering the human element.
Of course you need solid legal and accounting, Robertson
says. It can seem a bit scary to say that communications
expertise is equally important, but sometimes it
really is. A team approach helps you see that by helping
you understand what all needs to happen in order to achieve
your goals.
