Financial advice for business owners is often two-sided: personal financial advice and advice for the business.
Business owners have access to a lot of financial tools that employees don’t have access to; this is a great advantage, however it can be overwhelming too. Solid financial advice can relieve this.
Financial advice looks at where you are today and where you want to go. It determines your short, medium and long term financial goals and how you can reach them. For you, personally and for your business.
Why work with us?
- Worry less about money and gain control.
- Organize your finances.
- Prioritize your goals.
- Focus on the big picture.
- Save money to reach your goals.
For a business owner, personal and business finances are connected. Therefore both sides should be addressed: Personal and Business.
What does Financial Advice for a Business Owner include?
There are 2 main factors when it comes to business owners’ finances: Growth and Preservation
Growth:
- Cash Management- Managing Cash & Debt
- Tax Planning- Finding tax efficiencies
- Retaining & Attracting Key Talent
Preservation:
- Investment- either back into the business or outside of the business
- Insurance Planning/Risk Management
- Succession/Exit Planning
What does Personal Financial Advice include?
There are 2 main sides your financial advisor should address: Accumulation and Protection
Accumulation:
- Cash Management – Savings and Debt
- Tax Planning
- Investments
Protection:
- Insurance Planning
- Health Insurance
- Estate Planning
How do you start?
- Establish and define the financial advisor-client relationship.
- Gather information about current financial situation and goals including lifestyle goals.
- Analyze and evaluate current financial status.
- Develop and present strategies and solutions to achieve goals.
- Implement recommendations.
- Monitor and review recommendations. Adjust if necessary.
