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Service S.3 — Counsel

Senior counsel, without the statutory weight.

An advisory board gives you the thing a great board provides — structured, senior challenge — without directorships, filings or formality. MAXFR designs the mandate, recruits the seats from a curated network of specialist non-executives, and chairs the sessions so they produce decisions, not dinner-party opinions.

Counsel and strategy
Service S.3
Is this you?

When an advisory board is the right instrument.

  • You want serious challenge, but statutory appointments feel premature or heavy.
  • The gaps are specific — finance before a raise, marketing, AI, a sector you're entering.
  • Well-meaning informal advisors exist, but nothing is structured, minuted or owned.
  • Investors aren't on the cap table yet, and you'd like to keep the boardroom yours a while longer.
  • You'd rather trial board-level governance before committing to formal seats.
The engagement

The difference between an advisory board and a WhatsApp group of clever friends is structure: a written mandate, the right two-to-four people, a chaired agenda and minutes with owners. With that structure, advisory boards routinely punch at the level of formal boards — without the legal apparatus.

MAXFR builds the whole instrument. The mandate and terms of reference are written first; seats are then matched from the MAXFR network — experienced operators across finance, marketing, technology and sector specialisms — and every session is chaired to the same standard Max applies as a practising chair, currently of MW Equipment and Unsigned Research.

Many clients later convert the structure into a statutory board, seat by seat, once the value is proven. That path is designed in from the start.

What it includes

Built in five moves.

Mandate & design

What is this board for — growth, capital, AI, succession? A one-page mandate and terms of reference are written and agreed before anyone is recruited.

Seat matching

Two to four specialists matched to your actual gaps from the MAXFR network, interviewed with you. Chemistry is tested before commitment.

Chaired sessions

Quarterly (or six-weekly) half-day sessions, chaired by Max: papers in advance, debate at altitude, minutes with owners and dates.

Between-session counsel

Each advisor is reachable between sessions within agreed bounds — counsel when decisions actually happen, not just when the calendar says so.

Annual review & evolution

Once a year the mandate, membership and value are reviewed. Seats rotate as the business's gaps move; the structure can convert to a statutory board when ready.

Shape & commitment

How the engagement runs.

CadenceQuarterly or six-weekly half-day sessions
CompositionChair (Max) plus 2–4 specialist advisors matched to the mandate
CommitmentFounder/CEO time: one prepared half-day per session
Term12-month mandate, reviewed annually; seats rotate as needs change
Fees — honest context

What it costs.

Advisory board members in the UK typically work for £1,000–£3,000 per session or a modest retainer; a chaired three-to-four-seat advisory board generally costs meaningfully less than a single senior hire.

Figures are indicative UK market context, not a quotation — every MAXFR engagement is scoped first and priced in a written letter of engagement, with review points both sides can use. For broader numbers, see the NED & chair fees guide.

Questions

Asked about this engagement.

Do advisory board members have legal duties?
No — that's the design. Advisors counsel; directors decide and carry statutory duty. It keeps the instrument light, but it also means an advisory board can't replace a statutory board where one is legally required.
Who actually sits on it?
Operators, not career committee-sitters: people who have run finance, marketing, technology or businesses in your sector. MAXFR proposes a shortlist against the mandate; you meet everyone before any seat is confirmed.
How is this different from hiring consultants?
Consultants deliver projects; an advisory board owns a standing mandate and shows up every quarter to be held to it. The cost profile is also different — counsel by the session, not programmes by the day.
Can it become a real board later?
Yes, and often should. Because the structure mirrors a formal board — mandate, papers, chaired sessions, minutes — converting advisors into NEDs, or recruiting NEDs alongside them, is an upgrade rather than a rebuild.
Further reading

From the Knowledge hub.

All knowledge →
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