Advisory Board Member Guide (Free)
Free guide to roles, structure & best practice for advisory boards
Use this guide to:
- Understand what an advisory board is and how it differs from a board of directors
- Decide when and why to create an advisory board
- Learn how to choose, structure and manage advisory board members
- Reduce legal and practical risk while getting more value from advisers
Plain‑English explanations
Complex rules explained in simple language.
Practical examples
Real‑world scenarios, diagrams & checklists.
Ready to share
Ideal for briefing leaders & training your team.
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About this Document
Use this guide if you:
- Run a startup or SME and are considering setting up an advisory board
- Want outside expertise, networks & challenge without a formal board of directors
- Are already using informal advisers and want more structure and clarity
- Are a professional considering joining an advisory board and want to understand the role
It is suited to:
- Business owners & founders in Australia
- Startups & growth‑stage SMEs seeking strategic input
- Executives and management teams who want independent perspectives
- Advisors, industry experts & professionals exploring advisory board roles
What this guide covers:
- What an advisory board is and how it differs from a board of directors
- When and why to form an advisory board (and when not to)
- How to choose the right mix of advisory board members
- How to structure meetings, agendas and information flow
- Best practice for confidentiality, independence and legal risk management
- Common compensation models – equity, fees, retainers or pro bono
- How to manage performance, term limits and stepping down gracefully
You receive a free, plain‑English PDF written by Australian legal professionals that you can share with your co‑founders, executives and potential advisers. It is a practical starting point for designing or joining an advisory board, and pairs well with the Advisory Board Agreement templates when you are ready to formalise appointments.
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Jason Gold
Managing Director, IT Pro Tech"At IT Pro Tech, we partner with businesses who share our commitment to integrity. Click Legal stands out in the legal space for exactly that. Hannah and the team impressed us with their deep understanding of compliance-heavy sectors and their ability to offer clear, practical legal advice without overcomplicating the process."
Guy Raven
Head of Surveillance Advisory, Westpac"Hannah demonstrated exceptional leadership and regulatory expertise. She played a pivotal role in developing the control room and establishing a strong regulatory compliance framework... Beyond her deep technical knowledge, Hannah is an outstanding mentor, approachable, and insightful."
Antonella Spatola
Founder, True To You Charity"Hannah at Click Legal has supported the board in establishing our documentation and legal framework to start on a solid footing. We appreciate her authentic interest in the charity's mission... We appreciate how she explains complex concepts in simple terms, avoiding legal jargon."
Sharon Yang
Head of Investment & Capital Mgmt"Hannah and Click Legal have provided reliable legal advice to us. It has been integral in helping us meet all our AFSL obligations with confidence. I highly recommend their services to any business needing compliance support."
Jason Watts GAICD
Managing Director, Neu Capital"Hannah blends rare regulatory expertise with sharp business acumen. As her Manager at Barclays, I watched her master APRA/ASIC frameworks and turn them into clear, actionable strategies... She's the kind of professional who simplifies complexity, and her integrity is unmatched."
Stuart Hill
Program Manager/Operations Manager"Hannah has exceptional depth of knowledge and expertise in building robust legal, risk, and compliance frameworks... Beyond her technical expertise, Hannah is a strategic thinker and a genuinely kind, friendly person who always supports and helps others."
Jason Lowry
Co-Founder, LPG"Could not recommend Click Legal more highly! Must have for start ups and small business owners looking to trust someone to help set up your business right!"
Need more than a guide?
Request your FREE consultation & our senior lawyers will contact you to discuss your situation.
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