Small Business Owner Financial Planning: Benefits of Using a Financial Advisor

Small Business Owner Financial Planning

How Partnering with a Professional Can Help Shape Your Future

Small business owners have a lot to manage, from day-to-day operations to bigger-picture plans for the company’s future. As you lean into your expertise and passions to bring your business vision to life, it can be helpful to lean on a financial advisor to help you manage things like your tax strategy, optimizing your cash flow, or build a budget that can help meet all your major milestones. Below, I’ll review several small business owner financial planning benefits which can help you decide whether you’d like to partner with a professional to help solidify your company’s finances and help set yourself up for a secure retirement, too.

Small Business Owner Financial Planning Benefits

One of the most exciting things about owning a small business is that no day is the same. You could toggle between billing, customer service, and developing a new advertising strategy all before lunch. It can be thrilling, but it can also be a lot to manage, and prioritization is inevitable. It can be tempting to push off some of the bigger-picture financial work in favor of seemingly more immediate needs, but that approach comes with some risk.

A financial advisor can help you stay on track while also staying on top of the many demands of running your own show. Here are a few important benefits of partnering with a professional:


A financial advisor can help you avoid some of the most common pitfalls that small business owners can inadvertently step into. These mistakes can be subtle and not easy to spot at first glance. Things like mingling business and personal expenses, making the wrong choice about insurance policies, and structuring your business in a suboptimal way can all harm your financial future. However, a financial advisor can help you steer clear of costly errors.




Saving Money

Sometimes you have to spend money to save money, and hiring a financial advisor falls into that category. One of their first orders of business will be to help you trim unnecessary expenses so you can reinvest those funds into your business. If you’re struggling with a staffing decision, a financial advisor can help you make a choice that makes sense for your business strategy. Their purpose when partnering with you is to help your business run smoothly and efficiently so you can maximize your potential profits and minimize expenses.

Business Planning

Small business owner financial planning goes hand-in-hand with overall business planning. A financial advisor with small business expertise can help you evaluate the bigger picture. Where is your business going? How can it get there in the most streamlined and optimized way? Having a professional pose such questions – and help you develop a roadmap to take you forward – can be an invaluable asset.

Investment and Retirement Planning

It can be difficult to think about retirement when you’re enmeshed in building your business. However, when it comes time for the next phase of your life, it pays to be as prepared as possible. Small business owner financial planning means your advisor can help you create an investment plan that helps fuel your goals and grow your assets over time, so you’ll be set up for success in your next chapter. This can include things like establishing an employer-sponsored retirement plan, evaluating your risk tolerance, and designing a customized investment plan tailored to your needs.

Succession Planning

It’s difficult for many entrepreneurs to envision a time when they’ll hand over the business to someone else, but it’s an eventuality worth considering intentionally. Plus, life throws us all curve balls and something unexpected could derail your plans, including a personal health crisis that leaves you unable to work. This is why a smart piece of the puzzle in small business owner financial planning is to develop a succession plan that identifies your successor or a process for finding one, clarifies your business’ values and goals, and sets the trajectory for the future of the company.




Finding the Right Small Business Owner Financial Planning Professional for You

Financial advisors come with their own unique areas of expertise and approaches, so it’s prudent to do your own research upfront before you choose. Ultimately, it’s both about what they can do and who they are—your financial advisor is someone with whom you’ll likely have a long-term professional relationship. It’s important that the relationship is based on trust, respect, and honesty. This is someone who will know very intimate details about your work life — the bad, the good, and everything in between.

It can be hard to know how to navigate this important choice, but keeping these things in mind can help:

  • Do They Have the Right Experience? Make sure you ask about their work history. Whether they’re just starting out or they’re seasoned professionals, it’s important that they are as passionate about helping small businesses as you are about building your own. It’s a good idea to ask for referrals from any of their previous or current clients so you can get a good sense of their work style and commitment.
  • Are They a Fiduciary? Financial advisers are held to differing standards. A fiduciary is a financial advisor who is legally obligated to put your interests above their own. It is important to understand the differences between financial advisers who are fiduciaries and those who are not as it relates to services and compensation.
  • What About Pricing? Financial advisors are often either paid a flat fee for their services or operate under a commission structure. As a small business owner, it’s important to understand the fee structure of anyone you choose to work with. If you still have questions after the initial conversation, don’t be afraid to ask! Not only will this make it easier for you to plan, but it will also provide the foundation for a transparent professional relationship.

If You Need a Partner, We Can Help

Can you be successful without a financial advisor? Absolutely. However, as a small business owner, there are undeniable benefits to partnering with a professional as you build your business and plan for the future.

At Aviance, your financial health gets our full attention, and we’re accustomed to planning for the unique needs of small business owners, both personally and professionally. If you’d like to learn more about our services and determine whether we’re a good fit for your needs, please reach out to book a meeting today.



Aviance Capital Partners, LLC (“ACP”) is an SEC-registered investment adviser located in Naples, Florida. Registration as an investment adviser is not an endorsement by securities regulators and does not imply that ACP has attained a certain level of skill, training, or ability. While the information presented is believed to be factual and up-to-date, ACP does not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. Not all services will be appropriate or necessary for all clients, and the potential value and benefit of the ACP’s services will vary based upon the client’s individual investment, financial, and tax circumstances. The effectiveness and potential success of a tax strategy and financial plan depends on a variety of factors, including but not limited to the manner and timing of implementation, coordination with the client and the client’s other engaged professionals, and market conditions. The tax and estate planning information provided is general in nature, which should not be construed as specific financial planning or tax advice tailored to an individual reader. ACP suggests that readers consult a financial professional, attorney or tax advisory professional about their specific financial, legal or tax situation. All investment strategies have the potential for profit or loss, and different investments and types of investments involve varying degrees of risk. There can be no assurance that the future performance of any specific investment or investment strategy, including those undertaken or recommended by ACP, will be profitable or equal any historical performance level. Additional information about ACP, including its Form ADV Part 2A describing its services, fees, and applicable conflicts of interest and its Form CRS is available upon request and at

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