Financial Advice for Business Owners
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. This is a great advantage; however, it also can be overwhelming. Solid financial advice can relieve this.
A Financial Advisor looks at where you are today, helps you determine where you want to go, and then develops a financial plan to ensure you get there. This plan determines your short-, medium-, and long-term financial goals and how you can reach them — both for you, personally, and for your business.
Why work with a financial security advisor?
- Worry less about money and gain control.
- Organize your finances.
- Prioritize your goals.
- Focus on the big picture — running your business successfully.
- Save money to reach your goals.
- Pay less income tax (seriously!)
For a business owner, personal and business finances are connected. Therefore, both sides need to be incorporated into your financial plan.
What does financial advice for a business owner include?
There are two main factors when it comes to business owners’ finances: Growth and Preservation.
- Cash management — managing cash and debt
- Tax reduction planning — finding tax efficiencies
- Retaining and attracting key talent
- Investment — either back into the business or outside of the business
- Insurance planning and risk management
- Corporate tax strategies
- Passive Income tax-sheltering strategies
- Succession/Exit planning
What does personal financial advice include?
There are two main sides your Financial Advisor needs to address: Accumulation and Protection.
- Cash management – Savings and debt
- Tax reduction planning
- Insurance planning
- Health insurance
- Estate planning
What’s the process?
Your Financial Advisor will:
- Establish and define the advisor-client relationship.
- Gather information about your current financial situation and goals, including lifestyle goals.
- Analyze and evaluate your current financial status.
- Develop and present strategies and solutions to achieve your goals.
- Implement the recommendations.
- Monitor and review the recommendations and adjust when necessary.
If you found the information on this page useful, please give it a quick “like” or share it with someone else that may find it helpful:
- Contact me to begin the process to help ensure that you achieve your lifestyle and financial goals.
- Feel confident in knowing you have a plan to reach your goals.