Because more and more business owners are registering and starting every day in Singapore, competition in almost every local or international industry grows even fiercer. Every decision made can have a great impact on how a company performs or does business, and all these decisions need to be sound and strategic.
Accountants and bookkeepers aside, consultant and advisory services are also an important subset of the many bookkeeping and accounting services offered in accounting firms in Singapore, and a person who specializes in giving these said consultant and advisory services is called a financial adviser.
What’s a Financial Adviser?
A financial adviser is someone who provides financial guidance to clients depending on what they need and what they want to achieve with their business.
Although most advisers are capable of offering advice on a wide range of topics regarding your business, they are also similar to an accountant in that they may specialize in different fields, from risk reduction and management, to retirement, to investment management.
Financial advisers are different from your typicalaccountant – while an accountant specializes in making sure your books andrecords are correct and up-to-date, a financial adviser specializes in helpingyou plan your business strategy for the present and future.
Why You Should See a Financial Adviser for Your Business
As much as small business owners would rather be their own bookkeeper instead of hiring a specially trained accountant to save up on costs, there are a lot of reasons why having a financial adviser can help your business grow, such as the following:
- They bring the much-needed expertise. You may not always have the best experience when it comes to making these kinds of decisions yourself. Hiring the services of a financial adviser can help you clear a lot of your doubts regarding the possible options and decisions you need to take.
- Financial advisers can help youplan personal finances along with your business finances. Financialadvisers are well-versed in all matters of finance, and can help both yourbusiness and your personal assets for the short- and long-term in ways that younever thought possible.
- They help you point out exactly what your business needs. If your business happens to be falling behind despite you doing everything you can, calling in the services of a financial adviser to help you sort things out may prove to be a big help.
However, keep in mind that even if you trust your financial adviser on telling you the decisions that need to be made, you are still in charge of your own business. You are the only one who can make and employ those decisions.