{"id":23143,"date":"2026-04-14T12:07:51","date_gmt":"2026-04-14T10:07:51","guid":{"rendered":"https:\/\/avs-advisors.com\/?p=23143"},"modified":"2026-04-14T12:10:10","modified_gmt":"2026-04-14T10:10:10","slug":"a-well-composed-board-is-a-necessity-but-not-sufficient","status":"publish","type":"post","link":"https:\/\/avs-advisors.com\/es\/a-well-composed-board-is-a-necessity-but-not-sufficient\/","title":{"rendered":"A Well Composed Board Is A Necessity,  But Not Sufficient"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2h0fpwq-9275717510d32133d0516483f39bf02d\">\n.flex_column.av-2h0fpwq-9275717510d32133d0516483f39bf02d{\npadding:50px 50px 50px 50px;\nbackground-color:#eceae7;\n}\n<\/style>\n<div class='flex_column av-2h0fpwq-9275717510d32133d0516483f39bf02d av_one_full  avia-builder-el-0  el_before_av_one_full  avia-builder-el-first  tta-title first flex_column_div '     ><br \/>\n<section  class='av_textblock_section av-mnx66g6z-08179e02936b89821832d892b488d208'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock tta-title-hl'  itemprop=\"text\" ><h2>A Well Composed Board Is A Necessity, But Not Sufficient<\/h2>\n<h5 style=\"font-weight: normal;\">What Defines a Truly Professional Board<\/h5>\n<p><br class=\"avia-permanent-lb\" \/><strong>by Dr Christian B\u00fchring-Uhle &amp; Dr David Hoeflmayr<\/strong><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-mnx6l9so-b4d6a0c7c8d5f381611262c94f7cab46\">\n.avia_transform .avia-image-container.av-mnx6l9so-b4d6a0c7c8d5f381611262c94f7cab46{\n-webkit-animation-duration:1s;\n-moz-animation-duration:1s;\nanimation-duration:1s;\n}\n.avia-image-container.av-mnx6l9so-b4d6a0c7c8d5f381611262c94f7cab46 img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-mnx6l9so-b4d6a0c7c8d5f381611262c94f7cab46 .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-mnx6l9so-b4d6a0c7c8d5f381611262c94f7cab46 av-styling-circle avia_animated_image av-animated-when-visible-95 fade-in-down avia-align-right  avia-builder-el-3  el_after_av_textblock  avia-builder-el-last  tta-title-img'   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" class='wp-image-23074 avia-img-lazy-loading-not-23074 avia_image ' src=\"https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/TTA-April-26-Professional-Boards.png\" alt='' title='TTA-April-26 - Professional Boards'  height=\"1273\" width=\"1278\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/TTA-April-26-Professional-Boards.png 1278w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/TTA-April-26-Professional-Boards-300x300.png 300w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/TTA-April-26-Professional-Boards-1030x1026.png 1030w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/TTA-April-26-Professional-Boards-80x80.png 80w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/TTA-April-26-Professional-Boards-768x765.png 768w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/TTA-April-26-Professional-Boards-36x36.png 36w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/TTA-April-26-Professional-Boards-180x180.png 180w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/TTA-April-26-Professional-Boards-705x702.png 705w\" sizes=\"(max-width: 1278px) 100vw, 1278px\" \/><\/div><\/div><\/div><\/p><\/div>\n<div class='flex_column av-1jtzw2y-0bed617ac99bf77b4d0635f7e36bd686 av_one_full  avia-builder-el-4  el_after_av_one_full  el_before_av_one_full  first flex_column_div column-top-margin'     ><section  class='av_textblock_section av-mnx680ph-55d94202f4a384a8c67c7694e68ede9b'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p class=\"p1\">A managing shareholder steps back from operational responsibility, hands over to an external CEO, and establishes an advisory board for the first time. It is a classic moment in the history of a family business, and one of the most difficult transitions there is: from operator to overseer.<\/p>\n<p class=\"p1\">It is precisely in such moments that it becomes clear how little thought most owners have given to the design of a truly effective board. Names are collected, r\u00e9sum\u00e9s reviewed, commitments secured. And in the end, a board comes together that may look impressive, but does not necessarily work well.<\/p>\n<p class=\"p1\">The mistake usually happens right at the beginning: people think in terms of individuals before they have thought in terms of requirements.<\/p>\n<h2 class=\"p2\">Three stages of development: why many boards get stuck<\/h2>\n<p class=\"p1\">In our advisory work, we observe that boards typically go through three stages of development. Very few ever reach the third.<\/p>\n<p class=\"p1\">The first stage is often what might be called a friends-and-family board. The founder or patriarch surrounds himself with familiar figures, granting them access to his thinking without ever truly assigning them serious responsibility. Membership is treated as a mark of esteem or a social obligation. The desire for harmony prevails. Independent views are rarely formed, and even more rarely voiced.<\/p>\n<p class=\"p1\">In a second phase, the board opens itself to external figures selected for their standing or reputation. Such trophy boards can look impressive from the outside. Yet their members often lack the time, the specific understanding of the company, or the mindset required to make a real contribution to safeguarding the business for its future. In the less favorable cases, ego and vanity take over: members who are used to being heard and are less interested in listening.<\/p>\n<p class=\"p1\">Only at the third stage does what we would regard as a professional board emerge: a board made up of capable, committed, and insightful individuals who exercise independent judgement, complement one another, and are fully devoted to the task of helping lead the company into the future. Such a board sees itself as a team that arrives at judgements and decisions collectively.<\/p>\n<p class=\"p1\">What distinguishes this kind of professional board in practice? Papers are read before the meeting begins. Discussion takes the place of presentation. And at least seventy per cent of the board\u2019s shared time is devoted to the future: questions of strategy, technological developments, and risks that have not yet materialized.<\/p>\n<h2 class=\"p2\">Digital competence: indispensable, and multi-layered<\/h2>\n<p class=\"p1\">Digital transformation is a stress test for boards. Anyone observing it closely will notice that many boards are nowhere near as well prepared as they believe. The debate often revolves around whether a board has sufficient digital expertise, whether individual members are familiar with technology trends, AI, or digital business models. That is too narrow a view.<\/p>\n<p class=\"p1\">Digital issues affect business models, organizational structures, investment decisions, people matters, risk assessments, and capital allocation across the company as a whole. They cannot be delegated to a single individual. What is needed is a board that can collectively interpret these developments and translate them into responsible decisions.<\/p>\n<p class=\"p1\">This means that every member should possess a basic level of digital competence, in other words an understanding of how digital technologies work, the logic of data-driven business models, and the strategic significance of issues such as cybersecurity or AI. In addition, the board needs members with deeper expertise in specific areas. What matters, however, is that this distribution of competence is not seen as an end in itself. Digital expertise comes to nothing if the board does not know how to make use of it.<\/p>\n<h2 class=\"p2\">The board as an architectural project<\/h2>\n<p class=\"p1\">Anyone who assembles a board based on r\u00e9sum\u00e9s ends up with a showcase rather than a team. That may sound harsh, but it describes a constellation we encounter regularly in practice. The individual appointment decisions appear plausible, yet the overall result does not. Why? Because no one has asked: what combination of perspectives, experience, and temperaments does this company need in its specific situation?<\/p>\n<p class=\"p1\">In this sense, board design is an architectural project. No architect starts by asking about individual materials, but about the building to be created. Only from that overall conception does it become clear what is needed and in what relationship the individual parts must stand to one another.<\/p>\n<p class=\"p1\">For a board, this means that the starting point is the business context. A company in a phase of active international expansion needs different insights from one undergoing a fundamental business model transformation. A family-influenced business with a strong values foundation poses different requirements from a company with a fragmented ownership structure. A board expected to accompany a succession process must be configured differently from one whose primary task is to support the next phase of growth.<\/p>\n<p class=\"p1\">Only with this clarity of context does it make sense to ask what competencies and personalities are needed, with the aim of creating a board in which individual strengths combine to form collective wisdom.<\/p>\n<h2 class=\"p2\">Complementarity is more than diversity on paper<\/h2>\n<p class=\"p1\">Much is said in the debate on board quality about diversity, frequently with a focus on demographic characteristics such as gender, age, or nationality. That is justified. But for the actual performance of a board, this perspective falls far short. Much more important is genuine diversity of thought: experiences, styles of judgement, and perspectives that complement one another in a way that reduces blind spots and makes discussion more substantive. A board made up of individuals shaped by similar backgrounds may appear harmonious, but in critical situations it tends towards predictable judgements. A board made up of very strong individualists may be intellectually stimulating, but fragmented in decision-making. Professional boards combine differences with a shared seriousness of purpose.<\/p>\n<p class=\"p1\">Alongside diversity of thought, it is the inner attitude of the members that determines the quality of a board. A good board needs members who understand their role as service to the company, who are willing to disagree, and who have the discipline to direct debate towards insight. The maturity of a board therefore often becomes visible in the way its members arrive at judgements and decisions together.<\/p>\n<h2 class=\"p2\">The path to a professional board: process and evaluation<\/h2>\n<p class=\"p1\">Building a truly professional board requires a structured process. It does not begin with the search for candidates, but with the concept: what kind of board does this company need in its current situation? What combination of competencies and personalities is required for the board to become effective as a team?<\/p>\n<p class=\"p1\">On that basis, requirement profiles can be developed, candidates identified, and approached in a careful and discreet process. The objective is always the same: to assemble a complementary team, not a collection of individually suitable personalities.<\/p>\n<p class=\"p1\">Yet even careful selection does not guarantee lasting effectiveness. Boards change, and the corporate environment changes with them. That is why a professional board also requires a willingness to undergo regular evaluation, through an interplay of self-assessment and, at certain intervals, the involvement of external experts. Only in this way can the necessary independence and analytical depth be ensured.<\/p>\n<h2 class=\"p2\">The underestimated leadership responsibility on the ownership side<\/h2>\n<p class=\"p1\">Anyone seeking to secure a company\u2019s long-term future should not look only at management quality and strategic processes. Equally important is the question of whether the board is equipped for what lies ahead. Owners and board chairs still tend to underestimate this question, perhaps because its effects are less immediately visible than management decisions. Yet a well-composed and well-functioning board strengthens management\u2019s judgement and sure-footedness, improves the quality of strategic decisions, and increases the resilience of the company in demanding phases. A weak board, by contrast, creates exactly the kind of ambiguity that does the greatest damage in critical moments: too much agreement, too little depth, and corrective action that comes too late.<\/p>\n<p class=\"p1\">When a company\u2019s future viability is discussed, the quality of the board is rarely among the answers offered. Market position, technological capabilities, operational leadership: these are the usual candidates. Yet board quality should rank at the top of the list. A professional board does not emerge by accident. It is deliberately designed, carefully composed, and repeatedly tested for effectiveness. Where this succeeds, the company gains more than a board that is merely formally correct in its composition; it gains a sparring partner for management that can provide orientation, support development, and help shape the future responsibly.<\/p>\n<\/div><\/section><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-122brqi-c7c5ce670641846168d7dc92656fa7f8\">\n#top .flex_column.av-122brqi-c7c5ce670641846168d7dc92656fa7f8{\nmargin-top:40px;\nmargin-bottom:0;\n}\n.flex_column.av-122brqi-c7c5ce670641846168d7dc92656fa7f8{\npadding:50px 50px 50px 50px;\nbackground-color:#eceae7;\n}\n.responsive #top #wrap_all .flex_column.av-122brqi-c7c5ce670641846168d7dc92656fa7f8{\nmargin-top:40px;\nmargin-bottom:0;\n}\n<\/style>\n<div class='flex_column av-122brqi-c7c5ce670641846168d7dc92656fa7f8 av_one_full  avia-builder-el-6  el_after_av_one_full  el_before_av_one_full  tta-title tta-author first flex_column_div column-top-margin'     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-mnx6bx8m-a4ff9c53cbe8d5fc28baea7c266cdc8e\">\n.avia_transform .avia-image-container.av-mnx6bx8m-a4ff9c53cbe8d5fc28baea7c266cdc8e{\n-webkit-animation-duration:1s;\n-moz-animation-duration:1s;\nanimation-duration:1s;\n}\n.avia-image-container.av-mnx6bx8m-a4ff9c53cbe8d5fc28baea7c266cdc8e img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-mnx6bx8m-a4ff9c53cbe8d5fc28baea7c266cdc8e .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-mnx6bx8m-a4ff9c53cbe8d5fc28baea7c266cdc8e av-styling-circle avia_animated_image av-animated-when-visible-95 fade-in-down avia-align-left  avia-builder-el-7  el_before_av_textblock  avia-builder-el-first  tta-title-img av-small-hide av-mini-hide'   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><a href=\"https:\/\/avs-advisors.com\/portfolio-item\/christian-buehring-uhle\/\" class='avia_image' target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" class='wp-image-19791 avia-img-lazy-loading-not-19791 avia_image ' src=\"https:\/\/avs-advisors.com\/wp-content\/uploads\/2024\/01\/AvS_Christian_Buehring-Uhle_300x300.jpg\" alt='' title='Christian_B\u00fchring-Uhle'  height=\"300\" width=\"300\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/avs-advisors.com\/wp-content\/uploads\/2024\/01\/AvS_Christian_Buehring-Uhle_300x300.jpg 300w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2024\/01\/AvS_Christian_Buehring-Uhle_300x300-80x80.jpg 80w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2024\/01\/AvS_Christian_Buehring-Uhle_300x300-36x36.jpg 36w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2024\/01\/AvS_Christian_Buehring-Uhle_300x300-180x180.jpg 180w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-mnx6d4bp-509216d92478b263d8843218a21a1d96'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock tta-title-hl'  itemprop=\"text\" ><h2><a href=\"https:\/\/avs-advisors.com\/portfolio-item\/christian-buehring-uhle\/\">Dr Christian B\u00fchring-Uhle <\/a><\/h2>\n<p class=\"p1\">Dr Christian B\u00fchring-Uhle is a Partner at AvS Advisors. He advises entrepreneurial families and owners on the development of professional governance structures as well as the appointment and evaluation of leadership bodies.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-mpn2ve-d89404a2aa5ae47ff3c8363a0741984a\">\n.av_font_icon.av-mpn2ve-d89404a2aa5ae47ff3c8363a0741984a{\ncolor:#003118;\nborder-color:#003118;\n}\n.av_font_icon.av-mpn2ve-d89404a2aa5ae47ff3c8363a0741984a .av-icon-char{\nfont-size:25px;\nline-height:25px;\n}\n<\/style>\n<span  class='av_font_icon av-mpn2ve-d89404a2aa5ae47ff3c8363a0741984a avia_animate_when_visible av-icon-style- avia-icon-pos-left avia-icon-animate'><a href='mailto:mailto:c.buehring-uhle@avs-advisors.com' target=\"_blank\" rel=\"noopener noreferrer\" class='av-icon-char' aria-hidden='true' data-av_icon='\ue805' data-av_iconfont='entypo-fontello'><\/a><\/span><\/p><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ki1fai-17da8e6eb7d65c0c34a95fa0d8d06ac7\">\n#top .flex_column.av-ki1fai-17da8e6eb7d65c0c34a95fa0d8d06ac7{\nmargin-top:40px;\nmargin-bottom:0;\n}\n.flex_column.av-ki1fai-17da8e6eb7d65c0c34a95fa0d8d06ac7{\npadding:50px 50px 50px 50px;\nbackground-color:#eceae7;\n}\n.responsive #top #wrap_all .flex_column.av-ki1fai-17da8e6eb7d65c0c34a95fa0d8d06ac7{\nmargin-top:40px;\nmargin-bottom:0;\n}\n<\/style>\n<div class='flex_column av-ki1fai-17da8e6eb7d65c0c34a95fa0d8d06ac7 av_one_full  avia-builder-el-10  el_after_av_one_full  el_before_av_buttonrow  tta-title tta-author first flex_column_div column-top-margin'     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-mnx6j6ut-b4f7a32cdeb3d1cbc022f34806c45eea\">\n.avia_transform .avia-image-container.av-mnx6j6ut-b4f7a32cdeb3d1cbc022f34806c45eea{\n-webkit-animation-duration:1s;\n-moz-animation-duration:1s;\nanimation-duration:1s;\n}\n.avia-image-container.av-mnx6j6ut-b4f7a32cdeb3d1cbc022f34806c45eea img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-mnx6j6ut-b4f7a32cdeb3d1cbc022f34806c45eea .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-mnx6j6ut-b4f7a32cdeb3d1cbc022f34806c45eea av-styling-circle avia_animated_image av-animated-when-visible-95 fade-in-down avia-align-left  avia-builder-el-11  el_before_av_textblock  avia-builder-el-first  tta-title-img av-small-hide av-mini-hide'   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><a href=\"https:\/\/hoeflmayr.de\/\" class='avia_image' target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" class='wp-image-23078 avia-img-lazy-loading-not-23078 avia_image ' src=\"https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/Dr-David-Hoeflmayr_Portraet-300x300.jpg\" alt='' title='Dr-David-Hoeflmayr_Portraet'  height=\"300\" width=\"300\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/Dr-David-Hoeflmayr_Portraet-300x300.jpg 300w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/Dr-David-Hoeflmayr_Portraet-80x80.jpg 80w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/Dr-David-Hoeflmayr_Portraet-36x36.jpg 36w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/Dr-David-Hoeflmayr_Portraet-180x180.jpg 180w, https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/Dr-David-Hoeflmayr_Portraet.jpg 452w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-mnx6ki2r-68faf4d7d169977ef23e32c82a4910b6'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock tta-title-hl'  itemprop=\"text\" ><h2><a href=\"https:\/\/hoeflmayr.de\/\">Dr David Hoeflmayr<\/a><\/h2>\n<p class=\"p1\"><span class=\"s1\">Dr David Hoeflmayr serves on several supervisory<\/span> and advisory boards in the digital economy and spent more than twenty years as a managing director in industry. He now advises shareholders on questions of strategic value creation and business succession.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-mnyfmexg-50d27e237ffa7d3bc9bd115c73c88cff\">\n.av_font_icon.av-mnyfmexg-50d27e237ffa7d3bc9bd115c73c88cff{\ncolor:#003118;\nborder-color:#003118;\n}\n.av_font_icon.av-mnyfmexg-50d27e237ffa7d3bc9bd115c73c88cff .av-icon-char{\nfont-size:25px;\nline-height:25px;\n}\n<\/style>\n<span  class='av_font_icon av-mnyfmexg-50d27e237ffa7d3bc9bd115c73c88cff avia_animate_when_visible av-icon-style- avia-icon-pos-left avia-icon-animate'><a href='mailto:mailto:hoeflmayr@wertschaffen.de' target=\"_blank\" rel=\"noopener noreferrer\" class='av-icon-char' aria-hidden='true' data-av_icon='\ue805' data-av_iconfont='entypo-fontello'><\/a><\/span><\/p><\/div>\n<div  class='avia-buttonrow-wrap av-mnx7dve8-35fdc1377e0a817daa16530500f88cc8 avia-buttonrow-right  avia-builder-el-14  el_after_av_one_full  avia-builder-el-last '>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-mnx7dg12-a430dfe12766ecbdccbd949cdf758e1a\">\n#top #wrap_all .avia-button.av-mnx7dg12-a430dfe12766ecbdccbd949cdf758e1a{\nmargin-bottom:10px;\nmargin-left:10px;\n}\n<\/style>\n<a href='https:\/\/avs-advisors.com\/trustedadvisor\/'  class='avia-button av-mnx7dg12-a430dfe12766ecbdccbd949cdf758e1a avia-icon_select-yes-left-icon avia-size-small avia-color-theme-color'  ><span class='avia_button_icon avia_button_icon_left ' aria-hidden='true' data-av_icon='\ue830' data-av_iconfont='entypo-fontello'><\/span><span class='avia_iconbox_title' >Back<\/span><\/a>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-mnx7dud8-dbaf82d8514296051e9bfccb11f0b627\">\n#top #wrap_all .avia-button.av-mnx7dud8-dbaf82d8514296051e9bfccb11f0b627{\nmargin-bottom:10px;\nmargin-left:10px;\n}\n<\/style>\n<a href='https:\/\/avs-advisors.com\/wp-content\/uploads\/2026\/04\/TTA-April-26-Professional-Boards-EN-1.pdf' class='avia-button av-mnx7dud8-dbaf82d8514296051e9bfccb11f0b627 avia-icon_select-yes-left-icon avia-size-small avia-color-theme-color' target=\"_blank\" rel=\"noopener noreferrer\"><span class='avia_button_icon avia_button_icon_left ' aria-hidden='true' data-av_icon='\ue82d' data-av_iconfont='entypo-fontello'><\/span><span class='avia_iconbox_title' >Download: TTA as PDF<\/span><\/a>\n<\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":7,"featured_media":23074,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[54],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.6 - 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