Wealth ManagementBusiness Advisory

Personal wealth as a business owner

Jo Potts
26 August 2022
3 min read

26 August 2022

It is safe to say that most business owners have an accountant they rely on and work closely with, an accountant who knows their business inside and out to give them the best chance at success. What is less common, are business owners who work closely with a financial adviser to ensure their personal finances are in order.

If you are anything like Findex clients and McDonald’s franchise owners, Ben Holden and Glen Simmons, you are giving your business 110%, leaving you with little to no time to focus on your personal finances. Neglecting your personal finances or having most of your wealth tied up in your business can be a big problem from a risk and diversification perspective.

As Senior Partner in Accounting and Business Advisory, Simon File says, “Franchising is all about giving the people the right tools, and systems and processes to take that leap of faith and to give them the best chance for succeeding,” which sums up perfectly the integrated approach that we take to providing advice to business owners to help them make financial decisions so they can succeed. By working with your accountant and financial adviser in a co-ordinated way, we can provide specific advice and direction for both your personal and business finances. In providing holistic advice we can set you up for success and be confident that you are not building one side of your finances by hurting the other.

This can be achieved through the integrated services of financial experts who can provide advice on investment and superannuation, cashflow and debt management, Self-Managed Super Fund (SMSF) services and insurance advice, and even the provision of lending services.

One way an experienced financial team can help, is by extracting cashflow from your business and transferring these funds into investments outside of the business to build a non-business, diversified portfolio of investments. When Ben and Glen started conversations with Simon about their personal financial plans and superannuation, Simon was able to seamlessly introduce me, a specialist in Wealth Management, and we were able to create a personal wealth management plan that was integrated with their overall business plan.

Like Ben and Glen, when you are passionate about your business and have fun doing it, you know you are in the right place and that is where your focus should be. Having an integrated financial team on your side provides you with the peace of mind that you are getting the right advice for your business and your personal wealth, allowing you to focus on where you add value – your business.

By having your accountant and financial adviser under the one roof, this enables us to provide you with a complete and comprehensive service, making your life easier and saving you time, effort, and frustration. Findex is the largest provider of consolidated tax and financial services in Australia – so we are best placed to provide this holistic advice and service you.

Watch Ben and Glen’s story or visit Your Story is Our Business to see how we help our clients write their unique story, their way.

If you would like to speak with one of our financial experts contact us today.

Author: Jo Potts | Senior Partner

Jo specialises in formulating and reviewing financial strategies with a diverse range of clients. Jo prides herself on her ability to provider her clients with peace of mind, whilst ensuring all strategies for wealth management and financial planning are being explored.