Do you have the answers? Ask your advisor.

You know all too well that running a business – your business – takes every second you have. It’s always on your mind. But if you’re like so many other entrepreneurs, you may not have taken a step back to see the bigger picture – how your profes­sional and personal financial matters intertwine with each other. And that’s where your financial advisor can be invaluable.

It is crucial that you plan accordingly to maintain balance between the prosperity of your business and your own personal financial well-being. Here are the essential issues you should be discussing with your advisor. They may change over time, of course, as your business matures through its life cycle from startup to succession planning.


There are matters of controlling costs and cash flow, and using financing and capital wisely.

  • What can be done to safeguard my personal and business assets from creditors?
  • Are there strategies that will help my professional and personal assets work more tax efficiently?
  • Is it better to be taxed as a C- or an S-corporation?

You may have governance issues around making decisions with multiple stakeholders or family members. You may want to reconsider your corporate structure for tax purposes.

Only 30% of privately held businesses survive into the second generation, and less than 15% survive into the third.

Source: Nuveen Business Owners

Then, there are issues regarding succession planning and having key person insurance to protect yourself or company managers from the unexpected. What is your exit strategy? You need to think about who to transfer your business to and what you’ll need to do that. You need to consider diversifying your personal and professional assets, and integrating your busi­ness into your financial and estate plans.

These are all essential matters that you must address. To overlook them leaves you and your business vulnerable to greater risk. It’s time to talk to your financial advisor and benefit from the seasoned advice he or she can offer.


  • Familiarize yourself with these issues/risks
  • Recognize that running your business may distract you from addressing them
  • Consult your financial advisor for guidance with these important matters


Material created by Raymond James for use by its advisors. The information contained herein has been obtained from sources considered reliable, but we do not guarantee that the foregoing material is accurate or complete. Raymond James is not affiliated with any other entity listed herein. © 2017 Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. © 2017 Raymond James Financial Services, Inc., member FINRA/SIPC. Investment products are: Not deposits, not FDIC/NCUA insured, not insured by any government agency, not bank guaranteed, subject to risk and may lose value. 16-BDMKT-2324 BS 10/17