Business owners have access to many financial tools that employees do not. Having access to these tools is a great advantage; however, learning about and understanding these tools can be overwhelming. A financial plan can relieve this.

A financial plan looks at where you are today and where you want to go. It determines your short, medium, and long-term financial goals and how you can reach them. For you, personally and for your business.

Why do you need a Financial Plan?

• Worry less about money and gain control.
• Organize your finances.
• Prioritize your goals.
• Focus on the big picture.

For a business owner, personal and business finances are connected. Therefore, your financial plan should address both. 

What does a Personal Financial Plan include?

There are two main sides your personal financial plan should address: Accumulation and Protection

What is the Financial Planning Process?

• Establish and define the financial planner-client relationship
• Gather information about the current financial situation and goals, including lifestyle goals
• Analyze and evaluate the current financial status
• Develop and present strategies and solutions to achieve goals
• Implement recommendations
• Monitor and review recommendations – Adjust if necessary

 Next steps

Talk to us about developing your financial plan for you and your business so that you can achieve your financial goals.