Guide · Business owners
How to find a financial adviser for a business owner
The useful adviser is not simply someone who serves companies. It is someone who understands how personal wealth and the business interact.
Why business-owner planning can be different
A business owner may have salary, dividends, retained profits, pensions, protection needs and a large portion of personal wealth tied to the company. Personal planning can therefore be difficult to separate from business decisions.
What should you look for?
Owner-managed business experienceAsk how much of the adviser's client base looks like you.
CoordinationGood planning may need to work alongside your accountant, solicitor or corporate finance adviser.
Exit experienceIf a sale is possible, ask whether the adviser regularly works before and after exits.
ProtectionKey person, shareholder or family protection may sit alongside investment and pension planning.
Check whether the service matches the complexity
A more complex owner-manager may value deeper ongoing planning. A smaller or simpler situation may not justify a large permanent percentage charge. Compare service depth with the actual annual cost.
Specialism can matter more than distance
For founder or exit planning, an adviser with repeated experience of the situation may be more useful than the closest generalist. Remote meetings can widen the pool considerably.
Sources & further reading