Financial Advice and Solutions Areas.
Timely and accurate financial information is critical to a small business, SMRT can help with the implementation of tools and processes or with improvement of existing systems. SMRT can also help with accessing credit, dealing with lenders, preparation of business plans and other areas that an in-house controller would work on.
Maximizing rates of return on non business assets, protecting wealth and income with appropriate insurance, will and estate strategies and proper planning are all critical things for business owners to consider. SMRT can help with the review of current circumstances, gaps that need filling and implementation of strategies to address them.
Business owners typically have a significant portion of their net worth tied up in the business. Maximizing sale proceeds and minimizing taxes on sale are critical factors for securing an adequate retirement nest egg. At the same time business owners often don’t spend enough time addressing non business assets such as investments and real estate. SMRT can help with planning retirement strategies and forecasting retirement cash flows, minimizing taxes and answering the important question '“do I have enough to retire on”.
Selling a business can be a complex and time consuming process. With proper and advance planning and use of an experienced business broker after tax sales proceeds can be maximized. SMRT through a related company has helped hundreds of business owners achieve their exit goals. On the other hand, growth by acquisition can be a meaningful way for a business owner to achieve revenue and cash flow growth. SMRT thought the related company has help many business with ‘tuck in’ acquisition or with diversification strategies whether horizontal or vertical.
Financial Planner World on Integrated Financial Advice
At the pinnacle of the financial advice world is integrated wealth management. Integrated wealth management involves ways in which the financial disciplines of wealth management connect. These include investment managing, tax planning, estate planning, and behavioral finance (the psychology of investors).
Integrated wealth management professionals usually deal with personal wealth advice of affluent families and/or individuals. These types of financial professionals typically work on a fee-based continuum, advising clients with a higher net worth and greater assets, including business assets. Integrated wealth managers are certified financial planners who take a holistic to maximize the wealth potential of their clients.
Integrated wealth managers are concerned with getting into the minds of their clients (investor psychology), advising on a tax-efficient portfolio for clients, capital market opportunities and forecasting, strategic asset allocation, retirement planning, estate planning, and investments.
There is a relatively short list of credentialing options, such as certified financial advisor, that are appropriate for the level of total financial expertise required to be involved in integrated wealth management.