Jan 20 2025 53 mins 4
The three-generation curse. Perhaps you've heard this ominous phrase before. Farming families know the reality all to well that their land and careers are built over generations. So why is it so common to hear stories of how quickly all that hard work can become undone? And is it possible to avoid this curse?
In this episode of Humans of Agriculture, we sit down with Ben Law, a former financial advisor who had enough of the fluff and became "The Financial Bloke" and founder of AgriCoach. Ben shares growing up on a New South Wales cattle farm to build a successful financial advice practice and ultimately stepping away to focus on his passion for empowering farming families.
Now he helps families navigate the complexities of succession planning, protect generational wealth, and avoid the "three-generation curse." Ben reveals his approach to fostering high-performing families and discusses balancing financial strength with strong family relationships.
In this episode, you’ll hear about:
- How Ben’s early experiences on his family farm shaped his career path.
- The pivotal moments that inspired him to leave financial advising and start his own business.
- Insights into the "three pillars" of successful succession: wealth, wisdom, and wellness.
- The role of education, alignment, and planning in preparing families for succession.
About Ben Law: Ben Law is the founder of AgriCoach and the voice behind The Financial Bloke Podcast. With over 20 years of experience as a financial advisor, Ben now focuses on helping farming families build and protect their wealth while fostering strong family dynamics to ensure success across generations.
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Chapters
03:36 Ben's Journey from Farm to Finance
05:55 The Evolution of Financial Advice
08:15 Building a Successful Financial Practice
10:35 Health Scares and Life Changes
13:01 The Importance of Self-Reflection
16:19 Navigating Different Life Phases
19:11 Finding Purpose Beyond Financial Advice
22:52 Identifying Market Gaps in Succession Planning
25:34 Defining Your Skill Set and Focus
26:59 The Journey of Action and Capacity Building
30:43 Identifying the Right Fit for Support
32:05 Understanding AgriCoach and Its Mission
34:00 The Succession Triangle: Preparing Generations
36:37 The Three Pillars of High-Performing Families
40:15 The Importance of Wellness in Succession
42:39 Bringing High-Performing Families Together
45:30 Creating Time for Business Evolution
49:46 Balancing Passion and Family Well-Being
