Independent Advisory Boards

What is an Advisory Board?

An Advisory Board is an independent panel that provides non-binding strategic advice to the owners/ shareholders/directors of a business. Unlike a Governance Board, Advisory Boards  have no fiduciary or legal obligations, and this provides greater flexibility around how they are structured and managed.

Why establish an Advisory Board?

Establishing an advisory board can provide several benefits to an organisation, including:

• Expertise and guidance
• Access to professional networks
• Independent perspectives and viewpoints
• Credibility and reputation
• Risk management and compliance
• Setting the long-term strategy and goals

Do I need an Advisory Board?

The short answer is: it depends.

There are times that specialist skills and knowledge may be required to successfully navigate through the range of challenging or complex scenarios that you may be facing.

You may also be looking for  specialist guidance to: ensure that your work practices are up to date, challenge management’s thinking, or accelerate strategies.

How much you benefit from having an Advisory Board depends on where your business is on the growth cycle. The structure and formality of an Advisory Board is determined by the needs of your business.

Geoff Hodgens & Associates has the Certified Chair credential with the Advisory Board Centre, and leverages a principles-led, non-prescriptive approach to Advisory Boards.

We can guide and assist you in establishing an Advisory Board:

• Is fit for purpose
• Has clarity of scope
• Has the right level of structure and discipline
• Remains independent