How to Choose Financial Planning for Your Business
Most business owners choose a financial planner the same way people choose a barber: referral, good first conversation, “seems like a solid person.”
I get it. You’re busy. You don’t want homework. But you’re not hiring a motivational speaker. You’re hiring someone who can influence your taxes, your cash flow, your risk exposure, your exit options, and your family’s security.
So here’s the truth: you don’t need to shop for the “best” financial planner. You need the right one for your business and life stage.
Start with what you actually need, not what sounds impressive
A lot of people walk into planning meetings saying “I want to invest better,” when what they really need is to stabilize cash flow, stop tax surprises, and create a system for owner pay and reserves.
Your business is a living thing. It goes through seasons: startup, growth, scale, maturity, transition. The planning you need in a growth season is different than what you need when you’re preparing to sell or bring on a partner.
A good planner will help you define the real problem before selling you a solution.
Do the adult thing: verify who you’re hiring
This is not optional.
If the person or firm is providing investment advice as an adviser, you should be able to look them up on the SEC’s Investment Adviser Public Disclosure site (IAPD).
The point isn’t to “catch” someone. The point is to reduce your odds of getting burned by confusion, missing disclosures, or a mismatch in what you think you’re buying.
Ask for a clear explanation of services and fees
If they can’t explain what they do and how they get paid in plain English, that’s a problem.
The SEC literally tells investors to do homework and ask questions when choosing a financial professional. So if you feel awkward asking, don’t. You’re being responsible and doing your due diligence.
When you’re a business owner, it’s also fair to ask how they handle coordination with your CPA and attorney. Not “do you know people,” but “how do you coordinate so my strategy stays aligned?”
The real differentiator: implementation and decision support
Here’s what separates a true planning relationship from a dressed-up sales process:
When life changes, do they help you make the decision?
Because you’re going to face real moments: a hiring decision, a lease, a business loan, a partner issue, a big tax year, a slow quarter, a huge opportunity that needs cash fast. The right planner doesn’t just review a portfolio. They help you think through tradeoffs and consequences with your whole financial life in mind.
If the relationship is basically “annual meeting + quarterly report,” that may be fine for someone with a simple life. It’s usually not enough for an entrepreneur.
Resources:
SEC: Top Tips for Selecting a Financial Professional — https://www.sec.gov/investor/alerts/ib_top_tips.pdf
SEC: Investment Adviser Public Disclosure (IAPD) — https://adviserinfo.sec.gov/
Bottom line
Choose the planner who gives you clarity, proves credibility, and supports execution—not just ideas.
Not sure we’re the right fit? Perfect.
Book a Black Mammoth Power Hour as a low-commitment, one-hour strategy session built to help you make the next right decisions with confidence. You can see how we think and work, and you’ll leave with actionable steps whether you hire us or not. Bring the mess. We’ll organize it.