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Business Owners:  Why you Need a Great Professional Team  Thumbnail

Business Owners: Why you Need a Great Professional Team

As a small business owner, running a business can consume a tremendous amount of your time and effort. Of course, the benefits can be tremendous in delivering flexibility, autonomy and financial reward to you and your family. One important aspect that business owners often overlook is to assemble a great professional team. This would typically include a CFP®, CPA, insurance agent(s), banker, corporate attorney, estate attorney, etc.  

As CFP®’s, we work hard to maintain a network of qualified professional relationships.  We look for those with a proven track record in their specialty and who are enjoyable to work with.  Since our role is important in helping our clients clarify their overall goals and financial plan, we are often the first contact for building out your professional team. 

It is important to make sure that your professional team understand your overall goals and can work together towards achieving them.  Fortunately, collaboration has become easier with upgrades to technology as well as video conferencing.   

In many cases, the most essential communication should happen between your CFP® and CPA.  Together, they can help you structure your compensation and taxation regime to take advantage of the many benefits that are afforded to you as a small business owner.  Planning strategies may include setting up a 401k, Profit Share and potentially a Defined Benefit Plan can supercharge your retirement goals and help build your personal wealth.  

Please feel free to contact us to learn more.  



The commentary is informational in nature and not intended to imply a specific strategy or course of action. Investment advice and recommendations are only provided according to each individual’s personal circumstances. Chancellor Wealth Management is an investment advisor firm registered pursuant to the laws of the state of Georgia. The firm is also registered to conduct business in the states of South Carolina and Texas.   This content is developed from sources believed to be providing accurate information, and provided by Twenty Over Ten. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.  Copyright © 2020 Chancellor Wealth Management, All rights reserved.