not knowing this about your financial advisor will cost you

As an In-House Tax Strategist for a “Wealth Management” office, I had the unique perspective of watching and observing the gyrations a wealth advisory team will go through in order to “land a client”. My job, of course, was to bring value added services to the existing and potential clientele. Well, not exactly. I had the mindset of that purpose but in truth, it was just one more way for the “financial advisor” to get in front of another new prospect. In fact, that one purpose “get in front of another prospect” was the driving force in every decision. Think about it this way. A Financial Advisory Firm will make tens of thousands of dollars for each new client “they land” versus a few hundred dollars more for doing a better job with their existing clientele. You see, depending on how a financial advisory firm is built, will dictate what is most important to them and how it will greatly affect you as the client. This is one of the many reasons why Congress passed the new DOL fiduciary law this past spring, but more about that in a latter article.

When a financial advisory firm concentrates all of their resources in prospecting, I can assure you that the advice you are receiving is not entirely to your benefit. Running a successful wealth management office takes a lot of money, especially one that has to prospect. Seminars, workshops, mailers, advertising along with support staff, rent and the latest sales training can cost any size firm hundreds of thousands of dollars. So, as you are sitting across the glossy conference table from your advisor, just know that they are thinking of the dollar amount they need from the procurement of your assets and they will be allocating that into their own budget. Maybe that’s why they get a little ‘huffy’ when you let them know “you have to think about it”?

Focusing on closing the sale instead of allowing for a natural progression would be like running a doctor’s office where they spend all of their resources how to bring in prospective patients; how to show potential patients just how wonderful they are; and the best way for the doctor’s office staff to close the deal. Can you imagine it? I bet there would be less of wait! Oh, I can just smell the freshly baked muffins, hear the sound of the Keurig in the corner and grabbing a cold beverage out of the refrigerator. Fortunately or unfortunately, we don’t experience that when we walk into a doctor’s office. In fact, it’s quite the opposite. The wait is long, the room is just above uncomfortable and a friendly staff is not the norm. That is because Health Care Providers spend all of their time and resources into knowing how to take care of you as you are walking out the door instead of in it.

As you are searching for financial advice, there are a hundred things to think about when growing and protecting your wealth, especially risk. There are risks in getting the wrong advice, there are risks in getting the right advice but not asking enough of the right questions, but most importantly, there are risks of not knowing the true measure of wealth management. The most common overlooked risk is not understanding the net return on the cost of receiving good financial advice. Some financial advisors believe that if they have a nice office with a pleasant staff and a working coffee maker they are providing great value to their clients. Those same financial advisors also spend their resources of time and money to put their prospective clients through the ‘pain funnel’ to create the sense of urgency that they must act now while preaching building wealth takes time. In order to minimize the risk of bad advice is to quantify in real terms. One of the ways to know if you are receiving value for your financial advice is to measure your return backwards.

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A Business Appraisal Today Facilitates Long-Term Benefit To Any Company

Any business that desires growth, profitability, and increasing value over the long term is in for some good news. There are simple but powerful steps that can be taken today to accomplish such company goals. This critical step is obtaining a professionally prepared business appraisal (B.A.). A business appraisal establishes the fair market value of the business, which puts the business owner in a powerful strategic and decision-making position.

Obtaining a (B.A.). on your organization encompasses more than knowing the value for the sale of the company. An appraisal of the business is important to proactively plan for retirement, exit strategies, and financing of an organization. Additionally, the detailed financial and analytical information outlined in such company appraisals offer the company owner valuable insight into the strengths and weaknesses of the business. This valuable knowledge allows the owner to more effectively assess what changes need to be made for the short-term and long-term of the organization at hand.

A professional firm who specializes in the preparation of (B.A.) will assess the financial documentation of the company. The (B.A.) will evaluate and document assets, liabilities and intangibles. Intangibles include items such as copyrights, trademarks, good will and patents.

The final (B.A.) will provide a comprehensive and objective analysis of the company, while also providing crucial information to the business owner to formulate new company initiatives and make decisions regarding the future of the organization. With such information, new short-term and long-term strategies can be implemented to facilitate sustainable growth and sound financial decision-making.

Completing a (B.A.) today, far before the potential sale of a business, offers more time, options and flexibility to the business owner to aid in making decisions and implementing new strategies. Confidently moving forward with such internal changes will help increase growth, while creating new financing options with more offers to buy the company. Additionally, market shares and differentiation from competitors can be affected in positive ways by using the information contained in the (B.A.).

The overwhelming long-term benefit to completing a (B.A.) now affects not only the future of the business, but that of the owner as well. Having a lot more options and being able to retire early or sell for a sizable profit are all important reasons to get an appraisal of the business and act on the powerful information to sustain and expand the business over the long-term.

eBusinessAppraisals.com provides an affordable, custom solution to help every business owner chart a course to higher value. Our work bridges the gap between ineffective, cookie-cutter software and high-ticket business valuation services allowing business leaders with limited budgets access to the information they need to make smart business decisions. Through our business appraisals [http://www.ebusinessappraisals.com/], we bring decades of valuation experience and thousands of business valuation completed worth billions of dollars in fair market value.

How Much Greece Default or Denial Exists Inside Your Company?

When leaders really know they are being lied to, why don’t they call the lie? Why do they allow excuses and symptom discussions to prevent addressing the clearly visible problems that need to be faced?

Look at Greece and the New York Times article on the ongoing lies about Greek financial results titled The Denials That Trapped Greece. If Greek politicians were CEOs or C Level executives lobbying to hide and water down disclosure, the press would be up in arms and there already would have been scores of lawsuits filed.

The article stated that the International Monetary Fund (IMF) fairly easily found most of the truth about Greece several years ago and was going to issue an accurate factual report, while there was still plenty of time to have done something to face up to the issues and admit that Greece had a problem. After political pressure, a watered down report was issued and political leaders kicked the can down the road hoping it would explode on someone else.

Why did all the players underestimate dangers that seem obvious in hindsight? And how could they have continued to mislead the world, instead of fixing the issue? You probably believed those leaders who said they were willing to eat their peas.

Now convert what you probably are calling reprehensible leadership into your industry, even your company. Ask and truthfully answer the following question. Why are executives ignoring major risks or issues that can cost them their companies?

Answers may include comments like the following points.

It is the economy, stupid! Executive plates (at the top and middle levels) are full after downsizing and turnover. The general consensus is that they have no time to address or take on any more issues.

Beware of the Ides of March. Some leaders admitted that they are wary of the political climate of their companies and are unwilling to take on issues that are politically loaded. In a nutshell, job security is the top priority for everyone.

Accountability is a loaded gun. Many executives admit that it’s one thing to bring to light the major issues or risks the company is facing. But it is a whole new ball game taking responsibility to solve the problems. The modus operandi seems to be, Not on my watch.

What additional points would you make based on what you have seen in your experience? Which of those avoidance techniques have you seen recently, even in your own company? What blind spots should be clearly visible if someone, anyone would step up to the plate to answer them?

Greece has been around for thousands of years. It will survive as a country. A lot of bondholders will get badly burned. A lot of Greeks will lose jobs, have their quality of live dramatically reduced, and there will be more riots.

Yet who will bail out Acme Manufacturing or your company here in the United States? No one will. Maybe you need to step up to the plate or get an independent outsider to come in and tell the truth while you still have enough time to solve the problems most of you are just hoping will go away until someone else has to solve them.

Bottom line? – Find Your Million Dollar Blind Spot Opportunities to Accelerate Correct Fiscal Leadership Decisions!

Nurture Financials – Avoid Disaster! Helping your company become fiscally fit and make you more money. THE NUMBERS WILL NOT SCARE YOU WHEN YOU LEARN TO apply this information to improve your fiscal management, profitability, re-engineer business models, and strengthen or gain competitive advantage in the marketplace.