How Does a Financial Advisor Assist Business Owners?

Business owners often have busy and complicated lives. They are required to succeed in a variety of responsibilities from managing staff, monitoring cash flow, to developing client relationships. This may leave very little time to consider their own personal or long-term financial goals.

A financial advisor is an important addition to your team to ensure your personal goals are met and that you can take advantage of all the business opportunities presented to you.

Financial Advice8 strategies business owners need to consider

  • 1. Choosing Your Financial Advisor

Choosing a financial advisor who will provide you with the most appropriate advice for your situation is essential. Ask yourself – are they experts in wealth management for business owners? Are they known for putting their client’s needs first without any conflicts of interest?

  • 2. Planning for Retirement

A financial advisor can help you determine how much money you would need to fund your retirement dreams. They will help you keep track of both business and personal expenses and keep you realistic in terms of the value of your business when it comes time to sell.

  • 3. Saving for Retirement

Like the above point, financial advisors can help you action your retirement plans by giving you a realistic idea of how much you need to save per year to have your desired retirement lifestyle. Automated payments to your superannuation can be organised, or you could potentially contribute more during certain times of year depending on the nature of your business.

  • 4. Investing Tax Effectively

Investing for the future is fundamental to reaching the goals you’re setting out to achieve. Whether it’s paying off your home loan sooner, saving for your children’s education or dreams of a sunny vacation, it takes a plan to turn them into a reality.

Investing can be much more than just a regular deposit into a bank account – by taking advantage of tax legislation, you can magnify your savings and move towards your goals sooner.

  • Financial Advice5. Managing Risk

In addition to monetary investments, financial advisors will suggest that business owners need to establish protection for both their business and their families. Life and disability insurance may be advisable, in addition to a buy-sell agreement which deals with the buyout of a deceased partner’s ownership of a business.

  • 6. Diversifying Your Assets

Investing in your future after your business is crucial. Financial advisors can assist in ensuring that your wealth is diversified and suits the level of financial risk you are willing to accept. Together, you can plan an investment policy and implement it efficiently, which leaves you with more time to manage your business.

  • 7. Paying Yourself

Business owners often pay themselves a very small salary. This can be due to their money being tied up in other ventures, or they desire to minimise payroll and income tax responsibilities.This can be self-sabotaging in the long-term. However, it is important to pay yourself a salary that is enough to accumulate savings for retirement. Financial advisors can help you determine a suitable yearly amount.

  • 8. Personal Goals

You may wish to buy a home or open your business in another location, for example. A financial advisor approaches these personal goals in the same manner as your systematic, multi-year financial plans. It is important to determine what is reasonably possible for you in your financial circumstances to avoid disappointment and work towards achievable goals.

A discussion from business owner, to business owner

How Does a Financial Advisor Assist Business Owners?

Phillip Richards, a director of two fast growing companies himself understands the life of a busy company director and specialises in assisting others in the same position to achieve their vision for the future.

For an obligation free discussion, call us on 03 9190 8964, or contact Phillip at

What our Clients Say

  • Robert Rich is a gun and has been a pleasure to work with, he spent a lot of time asking questions and listening to both my husband and I to get a deep understanding of our current financial situation of who we are and where we want to be. His advice has been comprehensive and easy to understand. The genuine interest and enthusiasm he has demonstrated has made the whole experience to date, fun and engaging (it has also been awesome to see some great financial results!). Rob is a great communicator and is always available to chat, meet up or respond to an email. We wish we had seen Rob earlier, and plan to have him as our advisor now and into the future, I have and will continue to recommend him and his services.

    - Ellen Bond

  • Rob has been fantastic helping us set all our financials in order. We didn't want to have to worry about any of this stuff day to day. Rob put together a set and forget strategy that will see us in good shape for the future. Good guy, good advice, great help. Thanks again Rob

    - Andy Wright

  • My husband and I had a wonderful experience with Rob. He is genuine and honest. He has done amazing things with our finances to ensure our future is set up the right way. He has gone above and beyond our expectations. I highly recommend Rob, he is an expert in his field.

    - Anthea Husing

  • love working with Robert. He is highly skilled, practical and empathic. Nothing is a problem and he goes ‘above and beyond’. I have no hesitation in recommending Robert as an excellent financial advisor.

    - Rebecca Carter

  • Robert has managed our finances over the last 12 months as if they were his own. He has an eye for detail and is incredibly enthusiastic. We have recommended him to all our friends & family.

    - A. Miles

  • Rob has handled our finances for some time now. He provided us with sound advice and options. I highly recommend his services.

    - Mathew Quinton

  • Robert Rich provided me excellent financial advice and assistance in finding the right insurance for me. He was incredibly patient, and I'd recommend him without hesitation.

    - Edward Murrell

  • Rob has been helping me with my finances for just over 12 months now and i couldn't be happy, he is a wealth of knowledge and is amazing at what he does.

    - Paul Scott Ray White

  • Phillip and the team provide quality advice. They carefully explain the available options and clearly set the client's interests as the priority.

    - Jon Sutton

  • Rob has provided fantastic advise and clarity to myself and clients

    - James Ruddick

  • Great guys! Amazing financial advice.

    - Jay Boston

  • I cannot say enough about their professional manner and would highly recommend anyone I know to seek their services

    - Heather B

  • Your knowledge of the financial market is up to date and your approach to my portfolio has been proactive

    - Michael S

  • Thanks to Endorphin, I am now on the path to that dream of mine

    - Jake F

  • The plan has definitely made a big difference to my lifestyle

    - Josie W

  • It has been quite exciting and very comforting to have Endorphin looking after my financial future

    - Susan A

  • They provided me with a sense of direction and security that I did not have previously

    - Michelle C