Accounting & Finance

Does my small business need a financial advisor?

A financial advisor is the compass that guides you through the complex terrain of financial planning.

  • 3 min Read
  • October 12, 2023

Author

Escalon

Table of Contents

Financial advisors are professionals (individuals or companies) who provide expert guidance to optimize a company’s financial affairs. They possess in-depth knowledge of economic principles, regulations, and strategies, which enables them to offer valuable insights and recommendations. The role of financial advisors encompasses a wide range of services, including financial planning, tax planning, risk management, investment management, retirement planning, and more. 

Schedule a call today

There are different types of financial advisors, each specializing in various aspects of financial management. Some common types are certified public accountants (CPAs), bookkeepers, accountants, controllers, and chief financial officers (CFOs).

What are the benefits of hiring a financial advisor?


A financial advisor can provide the expertise and guidance necessary to navigate the financial challenges a business faces. These are four advantages of investing in a financial advisor:  

Specialized knowledge and expertise


A financial advisor brings in-depth knowledge and an understanding of financial management principles, industry-specific regulations, and other best practices. Their expertise can help businesses make informed decisions and optimize overall financial performance.

Objective financial analysis and advice


As an impartial third party, a financial advisor can provide an unbiased analysis of a company’s financial situation and offer tailored advice to address any shortcomings or areas for improvement.

Time and resource savings


Outsourcing financial management to a professional firm allows small businesses to focus on core business activities. By delegating financial tasks to a competent advisor, they can save valuable time and money in the long term and redirect resources to areas they are most needed with the consultant’s help.

Talk to us about how Escalon’s FinOps can help your firm access financial expertise. 

Improved financial decision-making


With a financial advisor, small business owners can access valuable insights and strategies to enhance their decision-making process. This professional can assist in evaluating investment opportunities, financing options, and risk management strategies.

Should you consider hiring a financial advisor for your small business?


Several indicators suggest that your small business could benefit from the expertise of a financial advisor. Suppose you struggle with financial complexities, require assistance with financing and investment decisions, go through growth or expansion pains, or face regulatory compliance challenges. It may be time to consider hiring a financial advisor.

However, you must evaluate your company’s financial needs before hiring a financial advisor. Consider your current financial situation, including your cash flow, debt obligations (or accounts payable), and revenue streams. Identify specific financial goals and challenges you face. This assessment will help you determine the level of assistance required from a financial advisor and how to put aside money towards paying for their services.

Want to know more? In addition to taxes, accounting, bookkeeping and CFO services through its FinOps, Escalon’s Essential Business Services include PeopleOps (HR, benefits, recruiting and payroll) and Risk (business insurance). Talk to an expert today.

Schedule a call today

This material has been prepared for informational purposes only. Escalon and its affiliates are not providing tax, legal or accounting advice in this article. If you would like to engage with Escalon, please contact us here.

Talk to our team today to learn how Escalon can help take your company to the next level.

  • Expertise you can trust

    Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.

  • Quality and consistency

    Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.

  • Scalability and Flexibility

    Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.

Contact Us Today!

Tap into the latest insights from experts in your industry

Accounting & Finance

M&A Readiness: How to Prepare Your Financials for a Successful Acquisition or Sale 

Mergers and acquisitions (M&A) can dramatically alter a company’s trajectory—unlocking new markets, technologies, or customer bases. Yet, many deals stumble...

Read More
Accounting & Finance

Optimizing Working Capital: Strategies to Maximize Liquidity Without Raising Funds 

Working capital: The difference between your current assets and your current liabilities. It’s a key barometer of financial health.  While...

Read More
Accounting & Finance

Outsourcing vs. In-House: A Strategic Guide for Growing Companies

Expanding your team and capabilities is critical to sustaining growth—but the question often arises: Should you build an in-house department...

Read More
Accounting & Finance

The CFO’s Role in Driving Operational Efficiency in a Mid-Sized Company 

A Chief Financial Officer (CFO) isn’t just a numbers person anymore. Modern CFOs play a pivotal role in shaping strategy,...

Read More
Technology & Security

What Every $10M+ Business Should Know About Data Privacy Laws 

Once your annual revenue surpasses $10 million, you attract more attention from regulators, partners, and customers, especially regarding data privacy....

Read More
People Management & HR

The Cost of a Bad Hire: How to Improve Your Recruiting Process

Hiring is one of the most pivotal processes in any organization, particularly for a medium-sized business looking to scale. Yet...

Read More
People Management & HR

Key Insights from the 2025 CBIZ Not-for-Profit Pulse Survey 

At Escalon, we are committed to keeping our clients informed about the latest trends, challenges, and opportunities across the industries...

Read More
People Management & HR

Scaling Culture: How to Keep Employees Engaged as Your Business Grows

Growth in headcount brings exciting opportunities for a business, but it also poses a key challenge: How do you maintain...

Read More
Accounting & Finance

Managing Multi-State Compliance as Your Workforce Becomes More Distributed

Rapid expansion and remote work trends have empowered medium-sized businesses to hire talent nationwide. Yet with multi-state operations come multi-layered...

Read More