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If you need assistance figuring out where to begin with charitable planning, consider consulting a business financial consultant. They will help you identify what works best for you and your family.
Strong advisors are inspired by their clients’ passions and find ways to build on those underlying values. They challenge their clients and bring bold new ideas to help them achieve their goals.
Business Financial Consultants defined
A business financial consultant, like Kirk Chewning Cane Bay Partners, provides good financial guidance to businesses and individuals. It could include helping them plan their retirement or improving their capital efficiency through investing strategies or tax reductions.
Often called financial advisors, these professionals have a background in finance and accounting and may be employed by consulting firms or as independent contractors. In addition, many have college degrees and industry-specific licenses or certifications.
Educational and Professional Experience
Applicants with at least one year of financial consulting experience are ideal for this job. In addition, companies want candidates with a solid understanding of the industry in which they will work, including how changes to tax laws could affect their client’s finances.
Clients are typically scheduled to meet with their financial consultant at least once a year, though they’ll likely request an appointment whenever a significant life change (marriage, job loss, retirement). They evaluate the current situation of their clients and make recommendations for ways to improve their finances.
Ideally, clients have a long-term relationship with their advisors to work together to reach their goals. Depending on the needs of their clients, they may also sell certain financial products to help them achieve their objectives.
Business Owners
A business financial consultant can help business owners make the most of their philanthropic contributions while administering cut taxes and creating a more charitable foundation for the future. They can also offer guidance on the types of assets that can be donated, including cash, appreciated securities, and real property.
A good philanthropic advisor will challenge you to clarify your goals and bring forward bold new ideas. They should also leave you feeling hopeful, excited, and ready to move forward.
Vital philanthropic planning can help companies strengthen the context they depend on in their local economies. For example, companies can improve education and training in communities where they have a presence. It enhances the skills and resources they need to compete, and it helps their suppliers, suppliers’ suppliers, and customers access markets.
Businesses can also benefit from the strategic use of philanthropy to create more transparent competition, enhancing productivity and competitiveness. As a result, it can reduce corruption and improve the environment for business, allowing companies to access markets better.
Nonprofit Organizations
The nonprofit sector in the United States is a large and growing part of our economy, contributing over $54 billion to the country’s GDP.
As a business financial consultant who works for a nonprofit foundation or endowment, you can leverage your experience and expertise to help build the foundation’s or endowment’s capacity. It could include developing strategic visioning, fundraising, and revenue diversification initiatives to enhance your organization’s ability or philanthropic guidance on legacy giving through charitable remainder or lead trusts, donor-advised funds, and other estate planning strategies.
The most important factor when choosing a business financial consultant is whether or not you’re working with someone who has a genuine interest in your mission and is committed to helping you achieve your goals. A good advisor will make you hopeful, inspired, and ready to move forward.
