It’s not either/or. It’s both/and.
As business owners ourselves, we understand that when your primary asset is your business, our comprehensive financial planning process requires a double focus. One eye must be your personal and family (when there is one) financial welfare. But because your welfare and the welfare of your business are so interdependent, we are also always paying close attention to the current health and the long-term sustainability of your business and its relationship to the overall arc of your life choices, challenges, and goals.
Balance for today, and tomorrow.
Success in any arena requires hard work, passion, focus, vision, flexibility, the ability to multi-task, and keeping the immediate and the long term in proper balance. At DFG, our work with individuals and families seeks ways to mitigate risks, identify opportunities, eliminate inefficiencies and create a plan that helps you reach your goals. For small business owners, we go one step further to enhance the sustainability of your most precious asset.
There almost is never enough time for business owners to do justice to both the “micro” – the day-to-day management of the business – and the “macro” – managing strategically for the long term. We can help by building and managing a team of experts that includes our clients’ professional advisers (CPAs, Attorneys) and others we can introduce as needed: HR professionals, Organizational Development consultants, Insurance professionals, Marketing gurus, Business Succession experts, you name it. Our goal is always to help you as owners do what you love to do, and what you built a business doing – we’re a resource to help fill in the blanks.
Planning is the key
Our process starts with thorough fact-finding, developing a project plan, thorough analysis, and recommendations with an implementation strategy. Financial plan recommendations can be implemented with the advisor of your choosing. Implementation of specific products or services may result in commissions or fees outside of the financial planning fee.
Most importantly, we connect this plan to your overall financial plan, coordinating the two for consistency and synergy. We maintain long-term relationships with our clients and often speak – sometimes weekly. Our business owner clients rely on us to be a second set of eyes on any financial topic, and, more importantly, come to know us as trusted advisors and friends.
Business Practice Offerings
Cash Flow and Risk Management
- Evaluate business financial statements and balance sheets.
- Review credit cards, lines of credit and other debt, and look for opportunities to improve cash flow.
- Ensure books are modernized and being handled efficiently.
- Property & casualty coverages – work with agent to ensure proper coverage is in place and identify any cost savings available.
Organization and Structure
- Help identify the most appropriate business structure
- Create an organizational structure that provides clarity and focus so that tasks are managed efficiently and performed by those most suited to them.
- Work closely with CPA to identify the most efficient tax structure during years of operation, and during the eventual exit, sale, or transfer of the business.
- With CPA Identify new strategies that may provide additional tax benefits.
- Work with attorneys to review and/or update employment agreements.
- Help provide incentives for employees to excel and perform at peak levels.
- Review existing benefit offerings meant to attract and retain key talent.
- Supplement employee benefits in a way that enhances recruitment and retention.
- This may include Group Medical, Life, and Disability and Long-Term Care Insurance, Deferred Compensation, Executive Bonus Plans, Retirement and Stock Option Plans.
Business Continuation Planning
- Review or establish buy-sell agreements that provide continuation following the death or disability of essential business personnel.
- Help create a process for the eventual exit or transfer of business interests, working with CPA to evaluate tax implications.
- Work with specialists to obtain the appropriate business valuation.
Get In Touch With Us
Let’s talk about how we can help you achieve your financial goals and live the life you desire and deserve. To set up a complimentary consultation, please fill out the form below, email us or give us a call at 413.584.3098. We look forward to hearing from you!