Many entrepreneurs start their own business to follow their dreams and fulfill their passion. Others choose small business ownership to achieve financial freedom or create their ideal workspace.
Regardless of your reasoning, there is one thing all small business owners should have: a financial advisor.
At Montgomery Financial Partners, our wealth management team is committed to helping clients achieve the unique financial goals they desire for themselves. While you focus on running your business, our wealth management team is taking steps to plan and implement your personal retirement goals, all while helping to map out a strategy for your future transition away from the business.
Budgeting
As a small business owner, you are constantly getting pulled in a million different directions every day. Between managing operations, meeting with your team, and serving customers, it can be difficult to find time to dedicate to reviewing finances.
A financial advisor can assist in developing a comprehensive budget that includes both fixed and variable expenses. Then, as your business grows and changes, we will work to regularly review and update the budget to reflect those changes in your business.
Professional Advice & Relationships
While the MFP team specializes in wealth management, we play an important role in guiding the coordination between attorneys, tax professionals, and other key participants in the business environment.
Our team will also seek advice from accountants and legal professionals to ensure compliance and make informed financial decisions. By working closely with these professionals, your financial advisor are able to regularly review your financial plan and adapt to changing circumstances.
Retirement Planning
Our team commits to helping small business owners achieve the unique financial goals they desire for themselves and their employees.
After learning more about your business, we can recommend the best retirement plan for yourself and your employees, such as a 401(k) or Individual Retirement Account (IRA).
When you finally decide to step away from your business, you can rest assured knowing you have long-term financial security.
Plus, we also work with you to develop a succession plan to ensure a smooth transition in the event of your retirement, disability, or unforeseen circumstances.
Insurance
Small business insurance is extremely important – it helps protect your business’ income and equipment. For example, if a customer slips and falls at your place of business, your insurance can help pay for injuries and legal fees that result from the injury.
Our team will evaluate and update business insurance coverage to protect against potential risks. We will also work with you to identify the person to protect the business in the event of the owner’s disability or death.
Investment Strategies
Our passion is earning the trust of our clients through the integrity of our investment practices. We are able to reduce financial risk by providing cutting-edge investments strategies and diversification.
Diversifying your investment portfolio is the main way to minimize the impact of any single asset’s poor performance and mitigate sector-specific risks. We work to regularly review your portfolio and adjust strategies based on business goals and market conditions.
Questions?
We can help you put a plan in place to make sure that your financial future and your company’s legacy are on solid ground. Please reach out to me at 301-990-9170 or email [email protected] for more details or to schedule a personal meeting.
Recent Comments