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Frisco, TX Financial Advisor for Business Owners

Financial Advisor For Business Owners

As a business owner, you know what it has taken to be successful in your field. You probably have a good handle on sales, operations, finance, and accounting, but there are many areas where a good financial advisor for business owners can really help amplify your efforts. The primary areas that we work with our business clients around are the areas of risk management, retirement planning, and tax planning.

Risk Management


There are many risks that can derail the work that you’ve been putting into your business. The ones with which we can help revolve around the areas of death, disability, divorce, and depression. And no, this would not be a clinical psychology depression, but a market or economic depression. A good article to take a look at that dives deeper into this is


Retirement Planning      


As a financial advisor for business owners, we know that retirement looks a little different for you than it does for others that just work for a company. Their main concerns are typically around having enough money in the right accounts (IRAs, 401ks, RSUs, etc), and then figuring out what their goals are to see if they will run out of money. That’s all part of your retirement planning process too, but we sometimes have a lot of work to do on the front end. The first questions we need to find out are – how much is your business currently worth, how much can we project it will be worth in the future based on growth rates, and then what is the best way for you to extract value from it to support yourself in retirement. You may sell, or you may not. If you sell, it may be to an outside entity, or it may be to internal team members. These are all custom to your planning process. 


Tax Planning


There are tax options that you may have available to you as a business owner that others are not aware of. For starters, you of course have the ability to institute employer retirement plans and use that as a tax deduction while you engage your employees. These can be 401k plans, SEP IRAs, SIMPLE IRAs, defined benefit plans or many other options. You may also have a goal of building equity while giving your key employees a reason to stay with you – which can also be done through tax efficient vehicles. On top of this, if you are charitably inclined, you may want to consider integrating a donor advised fund into your life. By doing this, it gives you the option to gift part of your company, taking the deduction from doing so, prior to the sale of your business. By doing this, you are able to offset your taxes in some of your highest earning years and then use the donor advised fund to give out of for years to come.

At the end of the day, you need to have a good business financial planner that can help you in your specific business situation. At the Cremé Wealth Team we believe in full transparency and empowering people to make the right decision. Please reach out and continue to explore our website to learn about how we pride ourselves in being former business owners and are passionate able helping you succeed.

Donors are urged to consult their attorneys, accountants or tax advisors with respect to questions relating to the deductibility of various types of contributions to a Donor-Advised Fund for federal and state tax purposes. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.

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