If you’ve been in business for even a day, you’ve probably heard terms like “money management” and “cash flow” being thrown around. You know understanding your business’ financials is important, but really knowing how money goes in and out of your business can be confusing, leading many owners to simply ignore it.
Accounting, bookkeeping, taxes, sales, and fancy reports are essential for running a business (and keeping Uncle Sam happy!). Luckily, there are experts out there who specialize in making sure you are running a profitable, sustainable, and healthy business. In this blog, you will learn what a financial advisor is and why you need one for your business.
What is a Financial Advisor (and Why You Need One for Your Business!)
What is a Financial Advisor?
A financial advisor provides expertise and solutions for those who are looking to make decisions regarding their business and investments. Advisors are often brought into businesses to make financial decisions on behalf of their clients and can even function as the CFO (Chief Financial Officer) of the company. These professionals are certified and proficient in advanced financial advisory to provide businesses with a well-rounded and impactful approach to profit planning.
Services They Provide
The goal of a financial advisor is to implement best practices while developing a financial planning system based on a business’ specific needs. They may offer services such as:
- Quarterly financial planning
- Cash flow management and assessments
- Quarterly and yearly tax advising
- Payroll training
- Business consulting
- Bookkeeping and Accounting
Financial advisors oftentimes consult and manage the financial side of the business, so the mix of services they provide can change between clients.
Why Your Business Needs a Financial Advisor
Your role as the owner is to understand every aspect of your business, including your financial strategy. However, that does not mean that you need to be an expert in all areas! By working with a financial advisor, you are gaining support from a professional who is well-versed in the money management arena, allowing you to focus as the visionary of your business. A financial advisor will not only help you to increase profitability (i.e. more money in your pocket!), but keep you focused on your goals and work with you to generate real results.
Sounds like something your business needs? It’s never too late to start working on your financial strategy! Our advisors are experts in developing a simple, custom, and impactful financial plan for your business. Start for FREE today!
