When should you hire a financial advisor?

A person goes over financial worksheets while typing on a calculator

You’ve started your business and finally, the business is making good money. You have a feeling you could be handling your finances more efficiently, but you aren’t sure what the next step should be. Financial planner? Tax advisor? Keep juggling it on your own? 

There are many types of financial professionals, and the perfect one for you depends on your situation and goals. 

Personally, I am a great fit for business owners who are ready to take their investing to the next level, or when a business owner is considering how to save on taxes now that they are bringing home more. I’ve worked with many clients in these areas, so this is where I see myself really stepping in to add value. 

Common Times To Hire A Financial Advisor

There are  a few times when it makes a lot of sense to hire an advisor.

If you are too busy to stay on top of your wealth building strategy,  it makes sense to have someone who can help you create the financial future you want. What does this look like?  It could be that you haven’t looked at what you spend in a month in a long, long time. Maybe you’ve accumulated some leftover 401(k)s that have been languishing

Do you feel like you are stuck, and you just aren’t making progress on your own? This is another great time to find someone who can help you create new structures and habits. 

Perhaps your financial life has grown more complex, and you realize that there are a whole slew of things that you could do to build wealth, but you don’t know what to do. If you know you need additional financial strategies that are beyond what you currently know on your own, this is a great time to connect with a financial planner. 

Another time is when you are going through a huge life or financial transition. In times of transition, there are often big decisions to be made. It can be helpful to find a thinking partner that has helped other families navigate the same transition you are going through. You don’t know what you don’t know, and they can help steady the waters and make the transition more smoothly. 

This could be a huge influx in business growth. There’s extra profit, but what’s the best use for it? How can you save on taxes?

Knowing how to best use the extra cash as a business owner is a complicated question. Do you have things you need to take care of at home? Do you want to save for the future? Do you need to pay for upcoming expenses or invest in future growth of the business? Financial planners can offer you holistic advice to make sure you are saving for the future, are efficient with taxes, and are working towards your goals. Having a partner to help you think through these questions is invaluable. 

It’s also a great time to reach out if you’re a business owner who is ready to exit, and you don’t know where to start. Financial planners can help you create and implement an exit plan to get the most out of your business or help pass it on to the next generation. 

Making the Investment

If your business is making money and you need help making that money realize your goals, then it’s time to reach out to a financial planner. Once you’ve made the decision to start looking for a planner that will work as a great partner for you, be sure to check out my article, “Are Financial Advisors Worth It? Finding the Best Small Business Financial Advisor For You.”

If you are ready to work together, grab a free consultation on my calendar so we can discuss your needs and see if we’re a good fit! www.aligningwealth.com/contact

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