You know that planning for your financial future is critical to your retirement and wealth-building success, but the high demands of running a business can make it hard to prioritize related affairs. Not to mention the time and research it would take to try and “do it yourself.” As a business owner, your time is best spent running your business, not trying to become a financial expert.
The most successful business owners we know don’t waste their time reading and researching how to allocate their investments or how to manage a 401K plan for their employees. Instead, they look to delegate their financial planning, investment management, and 401K plan management responsibilities to a trusted financial partner so they can focus on building the best business they possibly can.
At RiversEdge, our goal is to support business owners in doing just that. We work hard to simplify our clients’ lives by organizing their financial house and providing a straightforward blueprint to help them achieve success. Through a collaborative planning process, we help business owners have peace of mind that their most pressing financial needs are being met while they are hard at work, focused on other priorities.
Clients often come to us with a number of questions regarding how or where to start working with a financial advisor who will support their personal and professional financial goals. In order to achieve this, we offer three main lines of service to benefit our business owning clients:
1. Financial Planning
Business owners have the unique challenge of balancing their personal and professional finances in such a way that it benefits themselves, their families, their employees, and their business. There are a number of bases to cover. Trying to piece everything together can feel complicated and overwhelming at times.
The advisors at RiversEdge Advisors work with you to determine your unique needs and how to approach them. Through an assessment of your current financial situation, we can begin to develop a rough draft for your financial plan. We educate you on the details of your circumstances and outline the steps you need to take to reach your specific goals. We then work with you to build a financial plan that balances all areas of your financial life for clarity and overall peace of mind.
As your life changes, so will your financial plan. In addition to constantly monitoring and reviewing your plan, we make updates whenever a major life event alters your course. Ensuring that changes are managed efficiently and regularly will increase your likelihood of maintaining a successful plan in the long run. We also work alongside any other advisors, CPAs, or attorneys you may have a relationship with, in order to collaborate on your entire financial picture together.
2. Investment Management
Investment goals will be different from business owner to business owner. You’ll have to decide how much to invest back into your business and how much to invest toward your personal financial goals. Your investment mix will reflect these objectives.
As someone who may be focused on preserving your wealth or leaving a substantial legacy for your loved ones, we’ll help you clarify and understand your investment goals, no matter how large your concerns may seem. We’ll take into consideration your risk tolerance and timeline in order to develop an investment portfolio designed specifically with your needs in mind. Should major or minor events threaten to throw your investment goals off track, we’ll adjust your portfolio to ensure your highest probability of success.
3. 401 K Plan
Choosing which retirement planning solutions will work best for you and your employees is no easy feat. With strict fiduciary responsibilities and regulations in place to protect participants, managing the company retirement plan can become a full-time job in itself. Not only does this place a hefty time constraint on the Plan Sponsor whose talents are best served in other areas of the business but can potentially expose them to unforeseen risks.
Our team helps companies design, implement, and monitor their ideal retirement plan. Our goal is to minimize management risk for the Plan Sponsor while helping them deliver the highest standard of retirement solutions to their participants. Our combined decades worth of experience and expertise in the field position us as one of the region’s top choice providers for retirement planning advice.
As a business owner, you are uniquely qualified to do what you do—run the day-to-day affairs of the business you’ve poured countless hours and energy into to be successful. You don’t have the time or expertise to become a financial expert. Not only is this perfectly understandable, it’s smart not to try and take on the task yourself.
At RiversEdge Advisors, we like to believe that our services help to create the future you seek. Through education, guidance, support, and ongoing monitoring, we provide you confidence, knowing that we’re here to guide you and help alleviate your concerns.
If this type of advisor relationship sounds like a good fit for you and your business, we encourage you to reach out. Take a tour around our site or schedule a complimentary Discovery Call with us today. We look forward to learning about you and your business.