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Let’s face it – running a business is hard.
And managing the multitude of tasks involved requires more than just your time.
As owners grapple with the complexities of running a successful business, there is one resource that can make your life a little easier – financial advice.
Whether you are an aspiring innovator or a seasoned entrepreneur, working with a reputable financial advisor is a crucial step in increasing your business’s potential.
Financial advice does what its name promises.
It involves providing clear guidelines based on a company or individual’s financial situation, helping them make informed decisions about structuring and managing their money.
And here at Raymond James, Monument, this service is our specialty.
Using a deeply personalized approach, we provide advice tailored to the specific needs and circumstances of businesses and individuals – as well as families, trusts and charities – in the North East, Scottish Borders, North Yorkshire, the Lake District and beyond.
This support addresses many things, not least one of the first questions you might ask about financial management: “Do I need advice?”
Unfortunately, due to the different circumstances of each situation, there is no clear yes or no answer.
But in a world that is constantly changing, it is crucial to be prepared for all eventualities.
With that in mind, here are five ways financial advice can help you and your business:
Tax planning and efficiency
Tax planning is about working with a financial planner to organize assets and increase tax efficiency. For business owners, financial planners provide guidance on structure and benefits to reduce taxes while remaining compliant. The expertise of financial planners hopefully simplifies the tax system for entrepreneurs and is intended to help achieve better financial results and preserve wealth.
Investment advice
Knowing what to do with your money can be difficult, and understanding how to invest it is even more difficult. By leveraging industry knowledge and researching trends, investment managers work with you to offer a wide range of investments, whether through a general investment account, investment ISA, trust, family investment company or pension manager. In short, financial advisors can help you manage your money as effectively and efficiently as possible. Raymond James Monument’s experienced investment team can invest in all types of investments such as: Such as direct stocks, passive tracker funds, mutual funds and actively managed mutual funds to try to capture the best opportunities for their clients’ specific needs.
Risk management
Investment markets can be volatile, so it makes sense to have someone to navigate you through the ups and downs, right? A key part of financial advice is helping you understand the potential risks and rewards you can expect. Raymond James Monument’s investment managers do this by staying ahead of financial trends, understanding investments and keeping a close eye on the market. They do it all so you don’t have to.
Manage cash flow
Given the uncertainties and complexities of life, understanding cash flow is crucial for any business. Raymond James Monument’s financial planners help business owners understand how much cash they actually have and how much capital they may need for the future. This is particularly helpful when planning ahead or selling your business.
Plan ahead
Overall, financial advisors exist to help business owners and entrepreneurs manage their cash for the future, whether it be a business sale, retirement, or transfer of ownership to the next generation. It’s important for entrepreneurs to understand their options when it’s time to exit the business and make sure they can afford it.
For more information about Raymond James, Monument and how its team of experts can help you shape your financial future, email RJUK-Monument@RaymondJames.com, call 0191 303 4260 or contact us via our website .
Any opinions or forecasts reflect the judgment at the time of publication and are subject to change without notice. This commentary is for informational purposes only and no action should be taken or omitted without consulting an appropriately qualified and regulated person. When you invest, your capital is at risk. Tax treatment depends on an individual’s circumstances, which are subject to change.
Banner image – left to right: Rob Brotherton, Chartered Wealth Manager – Financial Planning; Gary Fawcett, Branch Manager and Chartered Wealth Manager; James Carrick, Chartered Wealth Manager – Investments.
This was published by Bdaily Publishing in Bdaily’s Members’ News section.
