Delcor » Families

Seek First to Understand, then be Understood
- Stephen Covey

Our experience at DELCOR confirms that the 'typical family' does not exist.

While there will always be similarities between families, no one strategy is ever exactly right for every family situation. There are always unique circumstances demanding a bespoke approach.

We have learned that even the 'self-made' person or family recognises that their life has been fortuitously favoured at times, by good timing, the occasional helping hand and a few lucky breaks.

Much more than is generally understood or appreciated, Families are a major driving influence upon economic growth and stability in free enterprise societies.

Scratch just a little beneath the corporate surface of many of our most successful businesses and you will discover the evidence of the entrepreneurship, vision and industry of earlier pioneering generations, principally families, without whose contribution there might not be a contemporary commercial legacy.

Success is never achieved in a vacuum.

It is not uncommon to discover the genesis of brilliance, collective vision, achievement and sacrifice in families that found the inspiration to create traditions that are more than just mere reflections of the past.

DELCOR understands that there must be an appreciation, even a reverence and certainly an understanding, for what is unique in every Family client's history.

DELCOR is more than just a company name. It represents our commitment to understanding and delivering on a client's Core Values.

Of course DELCOR has its own core values; values such as Integrity, Trust, and Accountability etc. These are the principles that govern our behaviour and ensure that we are ethical and transparent with all clients, as well as being leaders in our industry.

However, and most importantly, we believe that there are core values in a client's traditions, successes, history and even their failures, that must be understood for the contribution they have made to who and what any given family has become.

Return on investment cannot be understated, of course, but it does not represent everything that characterises, or is of worth to a successful Family. It is always appropriate to add to both status and accumulated wealth, the obstacles that have been overcome in the process.

Each Family is unique in its own special way and at DELCOR we seek to understand that 'special way' so that we ultimately contribute holistically over time and generations.

With each new adventure in life, we are often left to ponder if we are in over our head. DELCOR has come to realise that progress, and ultimately success, is simply a matter of persevering until the challenge is overcome.

01Engaging with Families
In his best selling book, "Seven Habits of Highly Effective People", author Stephen Covey includes as Habit #5: "Seek First to Understand, then be Understood."
For many, even those who may claim to listen, this discipline is often overlooked, mainly because they are not skilled at asking the correct questions and therefore they fail to truly understand what constitutes the essence of a client's motivation. Understanding a client's vision is very relevant, however, understanding 'why' that vision is important to a client leads to a greater understanding of a client's core values.
Our experience has taught us that 'core values' drive vision and purpose; not the other way around. Core values are a client's 'true north', and when properly understood, the 'how' becomes clear.
Working closely with family members to define their core values, ensures that a comprehensive blueprint, our compass for the future, is established and DELCOR's advisory team are empowered to provide advice and implement agreed strategies.
At DELCOR, the bottom line is that we make things work. Our team does not get distracted by preconception or process. Our collective ingenuity discovers both the solution and process for the challenges ahead. Paradigms such as, 'It cannot be done' can almost always be overcome by entrepreneurial creativity.
02Family Core Values
The ‘core’ is the central, innermost or most essential part of anything. We might say that it is the ‘life force’ from which everything else has its genesis. ‘Core Values’ therefore trump everything else! For this reason, we seek first to understand this driving influence, so that DELCOR becomes an expert advisory and executing resource.
03Family Purpose and Vision
There is far greater motivation in ‘purpose’ than in goals or objectives. While the latter are necessary, it is essential that they flow from the synergy of purpose and vision. In an instructive, interactive way we clearly establish the what, why and timing of these two important elements.
04Objectives
Objectives are subject to both internal and external forces. The external forces are normally controlled outside the reach of individuals or families. Objectives are also relevant on both a personal and family level. Therefore they constitute what is arguably the most potentially fluid aspect of any strategy. Yet, objectives must be solidly defined, understood and committed to by all stake holders.
05Develop Wealth Strategy
Strategies are developed as a means of maximising the positive outcomes of a set of pre-defined objectives. Experience is essential when evaluating the many options that might provide appropriate avenues to the protection and growth of assets.
Effective strategies are the result of a consultative process and disciplined application of knowledge and experience over time. At DELCOR we position our clients to be at least one strategic acquisition ahead.
06Responsibilities / Accountabilities
Successful businesses depend upon effective board, executive, middle and operational management to implement and drive intelligent policies and procedures. Without stifling creativity, certain parameters must be defined to ensure that there is synergy, productive cohesion and accountability.
Successful Families are no different.
07Implementation & Review Processes
For many, even those who may claim to listen, this discipline is often overlooked, mainly because they are not skilled at asking the correct questions and therefore they fail to truly understand what constitutes the essence of a client's motivation. Understanding a client's vision is very relevant, however, understanding 'why' that vision is important to a client leads to a greater understanding of a client's core values.
To paraphrase a Biblical quote: "Where there is no vision, aspiring individuals, families and enterprises ultimately fail."
Our experience has taught us that 'core values' drive vision and purpose; not the other way around. Core values are a client's 'true north', and when properly understood, the 'how' becomes clear.
08Why Select Delcor?
To maximise success and minimise the opportunity for error, there must not only be clearly defined objectives, responsibilities etc. but also agreed standards of performance and the metrics by which each contribution is measured against the required outcomes.
For people and processes to meet expectations, measurement should be intelligently consistent and constant.

Services

Family Services
Family Governance, Leadership & Education
Intergenerational Planning
Administration
Taxation & Accounting
Superannuation Compliance
Financial Management
Merger & Acquisition Services
Strategic Taxation Planning
Estate and Trustee Services
Philanthropic Services
Project Management
M&A Services
IPO Advice and Management

Families

Our experience at DELCOR confirms that the 'typical family' does not exist.

Success is never achieved in a vacuum.

01Engaging with Families

02Family Core Values

03Family Purpose and Vision

04Objectives

05Develop Wealth Strategy

06Responsibilities / Accountabilities

07Implementation & Review Processes

08Why Select Delcor?

Services