Meeting the Often-Overlooked Needs of Business Owners

/ Castle Wealth Advisors, LLC/
Meeting the Often-Overlooked Needs of Business Owners

Business owner clients put a great deal of faith and trust in their Financial Planners, Wealth Managers, and Accounting Professionals. Clients who own their own businesses rely on us to keep them up to date on events that may have in impact on the financial health of their businesses.  Often times taking a holistic approach when working with business owners is best to address their needs.  

Many financial, investment, and accounting professionals have recognized the need to work with their business owner clients on succession planning.  However, they have not been able to because they lacked a process and simplified workflow needed when working on these cases.  This has led to an ever-widening gap between the client’s needs and the service they are receiving

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Small Businesses Need Retirement Plans Too- Retirement Planning for Your Small Business

/ Castle Wealth Advsiors, LLC/
Small Businesses Need Retirement Plans Too- Retirement Planning for Your Small Business

Providing a retirement plan for your business can be beneficial to both you as an owner and your employees.  With the move away from pension plans many individuals will be relying more heavily on their own savings to provide income during retirement.  One of the best tools we have to create retirement savings is a plan through their employer. 

If you are considering creating a retirement plan for your small business you have several options.  Below will be a discussion about a few of those options.  This is not an exhaustive list and there may be some plan types that will benefit you more than another.  Prior to implementing a plan you should consult with a seasoned professional (financial advisor and tax advisor) who can help you select the plan that will best fit your small business.  The contribution limits and tax deductions can vary from plan to plan and year to year. So, it is advised to work with a trusted advisor.

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Investing for Small Business Owners:  3 Tips to a Better Portfolio

/ Castle Wealth Advisros, LLC/
Investing for Small Business Owners:  3 Tips to a Better Portfolio

For many small business owners, their business is their biggest asset as well as the largest producer of their family’s income. Business owners are entrepreneurs and are generally more comfortable taking on risks. For these reasons, small business owners face unique challenges when considering and selecting investments for their portfolios, and it’s important to keep in mind some basic investment principals. Not doing so can cause business owners to take on too much risk unnecessarily and can endanger their business and their income.

Here are three tips that small business owners should use to guide their investing decisions:

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Concerns Business Owner’s Should Revisit – Don’t Forget A Business Review

/ Castle Wealth Advisors, LLC/
Concerns Business Owner’s Should Revisit – Don’t Forget A Business Review

Whether you have one employee or many, being a business owner is hard work and no matter how hard you try there always seems to be a growing list of tasks that need your attention. I both sympathize and empathize with you.  

For me personally, I started Castle Wealth Advisors, LLC because I felt there were many individuals, families, and businesses who were underserved by the investing and financial planning industry.  I wanted to provide an ethical and approachable financial planning and investment management service to individuals, families, and business owners who were concerned with their financial futures or just had a few questions, regardless of age, sex, race, or net worth.  That was very important to me and it still is today.  

The paths that leads business owners to start their own companies will vary greatly from business owner to business owner.  Sure, we started our companies because we felt there was something we could add to our industries that would be new, make a difference, or help people.  However, there is one common theme among us.  We all need help along the way to ensure we have made informed decisions with regard to our companies.  

Given today’s environment of low interest rates and the increasing volatility in equity markets, many investment portfolios are at risk and for those who own their own businesses the stakes can  be even higher.  This has caused many business owners to re-think their strategies  and goals, both personally and from a comprehensive business perspective.  

If you own your own business here are a few areas to consider:

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Is it the Right Time to Franchise Your Business?

/ Castle Wealth Advisors, LLC/
Is it the Right Time to Franchise Your Business?

When a business owner wants to expand his business concept across a region or the country, franchising can be an attractive option. 

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Basics of Estate Plans: A Simple Way To Understand What Happens To Your Assets

/ Castle Wealth Advisors, LLC/
Basics of Estate Plans: A Simple Way To Understand What Happens To Your Assets

I’m asked many times by novice and experienced investors alike, “Do I need a will?” 

“Well, it depends on what you want to happen” is my general response.  Not everyone’s situation is the same and therefore they don’t need the same estate documents.  But at a basic level I believe everyone should have an understanding of the process for wealth transfer based on the pre-death planning that has been done.

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Investing for Small Business Owners: 3 Tips to a Better Portfolio

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Investing for Small Business Owners: 3 Tips to a Better Portfolio

For many small business owners, their business is their biggest asset as well as the largest producer of their family’s income. Business owners are entrepreneurs and are generally more comfortable taking on risks. For these reasons, small business owners face unique challenges when considering and selecting investments for their portfolios, and it’s important to keep in mind some basic investment principals. Not doing so can cause business owners to take on too much risk unnecessarily and can endanger their business and their income.

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Your Small Business Should Have Its Own Credit Score

/ Castle Wealth Advisors LLC /
Your Small Business Should Have Its Own Credit Score

Many people understand the importance of their personal credit score. Most lenders use them to determine who will receive financing opportunities — such as auto loans, mortgages and lines of credit — and on what terms. Your score tells lenders how likely you are to repay loans.

But if you’re a small-business owner, your business can and likely should have a credit score separate from your personal one.

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Try This Checklist to Get Your Business Back on Track→

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Try This Checklist to Get Your Business Back on Track

It’s already late August — are you on track to reach the 2016 goals you set for your business at the beginning of the year?

If you are among the uncertain, don’t despair. It’s not too late to take corrective action, but first you must honestly assess your standing. This business checkup can help you identify where you are on track and where you may be falling behind.

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