Wealth Management For Business Owners

As a business owner, your biggest asset outside your house is usually your business. Unfortunately, many business owners are too busy managing their businesses to worry about their own personal finances or their financial future.

This is why it can be extremely beneficial to seek advice from professionals to help ensure you are extracting enough income from your business to fund your lifestyle now, and have enough money for a comfortable retirement.

Why Business Owner Should See Our Financial Advisors & Planners

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At Aspiri, we help business owners protect their interests and plan for retirement. We’ll determine the most effective ways to extract wealth from your business, whether it’s drawing wages or putting money into your superannuation funds.

Our combined experience in both financial advice and accounting gives us the unique expertise to help you minimise your taxes, grow wealth outside your business, protect your assets and reach your retirement goals.
We’ll help you look at you can make the most of their business and investments through:

Building Cash Flow for Retirement

It’s also important to understand what type of retirement income your business will generate for you – since this will play a huge role in determining your desired lifestyle.

Our financial advisers will help you determine how much income you will need, how much you should have saved, your desired retirement age and the lifestyle that you are looking to achieve. We work in conjunction with your accountants to ensure you are set up with effective structures to minimise your business tax including but not limited to small business capital gains concessions. These concessions help keep more of the proceeds after tax (if any) when you eventually sell the business.

Ensuring you are adequately insured

Unexpected circumstances, such as accidents or disasters, can potentially threaten your business continuity and generate unexpected costs. While business insurance can help mitigate some of these risks, it is important that you understand what type of financial protection you need for yourself and whether this is sufficient for your needs. We’ll help you determine what insurances you need; how much you should be covered for will provide complete insurance management for you.

Diversifying Your Assets Outside Your Business

It’s important to diversify assets outside your business in case you encounter significant problems or if your business is affected by unforeseen events. As part of your comprehensive financial plan, we’ll help determine if you have enough savings and investments outside of your business to fund your lifestyle if you no longer have any income.

Creating an estate strategy

One of the most important things business owners can do is ensure they create a will and nominate their beneficiaries with sufficient information and detail on what you want to happen to your business if you pass away. You may also consider putting in place arrangements for your businesses so that it can be passed on to your children or other family members. We’ll create an effective estate strategy to ensure your wishes for your business are implemented if something unexpected happens to you.

Book a free initial consultation with our professionals
Book a free initial consultation with our professionals

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