Understanding Financial Advisory Services – A Quick Guide

Understanding Financial Advisory Services – A Quick Guide

Money management is not an easy job for any business. There are many decisions to make like taxation, investment strategies, transfer pricing, etc. Hence it is best to trust the experts for financial advisory services. Hiring a financial advisor could add clarity to your future business endeavours.

Financial Advisors– The Meaning and Need for Businesses to Hire Them

A financial advisor is a professional who can help you successfully navigate the difficult waters of financial management and offers undivided support on the journey towards your company’s economic goals.

A financial advisor is a broad term describing a group of experts assisting others with their advice on management of finances. The financial advisory services comprise professional advisors handling specific tasks. There are several types of financial professionals, offering smart financial advisory services to businesses.

A business financial advisory service team would meet you frequently to discuss the financial goals of your business, followed by meetings to stay abreast. These conversations have a great scope in covering your investment and other topics such as tax compliance, obtaining regulatory approvals, planning of IPOs, investment structuring, etc.

Benefits of Hiring a Financial Advisor for Your Business

Often business owners ponder on whether they really need financial advisors or not. With financial service providers, what you get is an experienced team having in-depth understanding and knowledge about different domestic laws and different industries. Whether you need entertainment, manufacturing or automotive advisory – you can trust the know-how of industry experts. While the management can focus on core aspects of the business, reputed financial advisors can guide them on the most crucial financial decisions.

Pros of hiring financial advisors

  • Dedicated Attention: Professional financial advisors are trained individuals who put in all their time and talent in managing their client’s financial potential. They have a deep knowledge of money management that comes handy when you have to deal with complicated money matters like taxes, banking, investments, etc.
  • Strategic Decision-making: A major benefit of professional financial advisory service is that it allows businesses to focus on better returns and profits. Expert advisors make sure you are able to make smart financial moves for consistent growth and overall profitable results. Any bad move could have a negative effect on your business at multiple levels. In addition, you would be able to manage finances better, avoid bad investments, and focus on your strategic business goal.
  • Rationalised Operations:With a team of experts handling your financial decisions, you can also streamline and rationalise the operations, reduce time wastage, optimise employees, fine-tune strategies, and make better beneficial decisions for the business. They would prevent you from moving ahead, unarmed with facts, and ensure you don’t make mistakes. Likewise, they ensure you are focused on improving the overall operations of your business.
  • Exhaustive Advice on Important Financial Products for the Company: A financial advisor spends much of his time on research. After considering your precise investment needs, these professionals will research the best opportunities. Additionally, they research on a consistent basis to maximise their knowledge of the market and law and taxation to offer the clients with the most viable investment options.
  • In-depth Understanding of the Market: Financial advisors are experts in financial matters. They have a great understanding of market trends. They can help you formulate effective strategies to conquer the market by leveraging these trends. Additionally, these professionals can comprehensively address all your financial queries and offer advice depending upon the status of your business.
  • Leveraging Untapped Opportunities:These specialists are there to guide with tailor-made solutions and innovative perspectives to leverage the opportunities available. Based on your industry, you can trust them to use the best tools to deliver you results as per your business goals.

What to Expect from Financial Advisory Services?

Financial advisory services work as a team to provide various services. Some of the common services they cater are:

  • Transaction Tax Guidance: Understanding the business, anticipating business needs, and coming up with winning tax solutions is the goal of financial services. Pre-planned tax services have benefits for a business. It allows the business to achieve its objectives efficiently and be compliant at the same time.

Teams looking into tax solutions cater to the following areas – acquisition, merger, disposal, capital reduction, spin-off, share-buyback, capital restricting, distress asset acquisition, cross-border project mergers, etc.

  • Global Mobility Services: Tax experts provide advice related to tax litigation, tax advisory, regulatory as well as compliance services. In this age of globalisation, the global mobility trend is increasing rapidly to become the new normal. The objective of financial advisory services is to help clients manage their mobile workforce together with other members of the firms across the world and provide a holistic offering including international employee assignment management, immigration and visa compliance, social security compliance, etc.
  • Union Budget Guidelines: With changes in the Union Budget, companies must bring changes to their business policies too. Financial advisory services ensure that you can deploy these changes appropriately to boost your business and prevent any litigation.
  • Stay Abreast with Webinars & Tax Alerts: In this globally competitive world, it is crucial to stay alert and abreast with all the latest changes and happenings. The major role of financial advisory services is to keep you updated with the latest reforms and changes and prepare the next move.
  • Business Financial Planning: Whether you want to restructure your existing business or are looking to commence new business activities, financial advisory services ensure to keep you updated with all the latest tax and regulatory developments in India. You can seek advice on the supervisory regime for inbound and outbound investments into and from India as well as take guidance in appropriately responding to queries from regulatory authorities.

You can find a financial advisor to help you with all aspects of your business finance. Always make sure to understand fees, background, experience and services of your chosen money manager before hiring him.

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