As a business owner, shareholder, or director you face unique challenges in comparison to non-business owners. Due to not only your family’s responsibility but also that of your employees and shareholders.
Employing adequate risk protection, retirement planning, estate planning, and investments, such as Executive Income Protection, and a diverse investment portfolio, and maximising your tax efficiency, creates stability and peace of mind when it comes to any liabilities you have.
Business owners often have a more variable income in comparison to employees, depending on the stage the business is at. This makes navigating a plan more difficult, as you need to be capable of depicting how a potential change in income will impact your personal and business objectives into retirement. But, as our platform is entirely online, all you have to do is log in to your portal via desktop or the app and update your information, and your financial plan will change, visually showing where you’re heading.
With a Business Owner Financial Plan, our entire team of advisors is at your service. To assist you in ensuring you have what you need to retire comfortably and leave behind a legacy.
Planning for a successful future is not a one-size-fits-all type of plan. Your own business’s needs are unique. We will get to know your financial goals for your family and your business. Creating an online visual Financial Plan that comprises everything from your goals, expenses, savings, investments, pensions, and more.
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We’ll help you to visualise the bigger picture and act upon it. Creating a better outcome for your family & business alongside providing a second opinion on important financial decisions.
Whatever stage of business growth you are in, our entire team will work with you to adequately plan for your end goals.
Most people need to plan for the risk of unexpected death, illness, injury, or loss of income or property. Once you become a business partner or owner, however, the risks involved are multiplied. Such as – loss of income due to disaster, disability or death of a key business member who is affluent to the success of the business, or loss of property.
Having adequate insurance cover in place for such instances is crucial to providing adequate cover for the owner and his family. Along with protection planning for employees.
Our state-of-the art Financial Planning software allows you to visualize your current and future finances. Available for Desktop, iOS and Android.
Provide direction and protection to your wealth. Start your True Wealth Personal Financial Plan today by enquiring now.
As a business owner, the thought of retiring or relinquishing your position as leader may never cross your mind. Maximizing your contributions where possible is key to building a wealth portfolio worth retiring for. Not forgetting the important tax advantages.
As a business owner, you can contribute considerably larger amounts to your pension(s) in comparison to a non-business owner, which allows you to continue the lifestyle you have become accustomed to.
If you are a small business owner, it can be increasingly difficult not to solely invest in your own business. In many cases, you can make savings in other areas of your finances, to free up cash and diversify your investment portfolio. Having the self-control to not invest this back into your business is a key part of risk management and prudent investment management.
When business is in transition, money is in motion.
As a medium to large business owner, you likely have stopped investing in your business as it has become more stable. If you currently have investments it’s crucial to review these as your business grows, as your risk profile changes the older you get & your financial goals change. Other key parts to assess in a review are your current management fees, allocation rates & portfolio diversification as economic environments change; such as energy, ethical responsibilities & sustainability.
If you are a medium to large business owner & haven’t yet started to diversify your investments outside of your business, we recommend getting in touch immediately as it’s crucial to align a bespoke investment strategy to your personal and business goals.
As your business grows in value, a basic will or trust may no longer suffice for a business transfer. Such things as choosing a successor to ensure business continuity, reducing business and personal estate taxes, and Section 72 insurance. Efficient use of insurance trusts / charitable trusts also plays a key role in planning your estate.
The last thing you’d want is your personal and business assets ending up in probate court. Having a comprehensive plan for your estate is essential for ensuring the transition of your assets are smooth for your family and work colleagues.
Nobody can predict the future, but we can plan for it.
Lifestyle guidance is an increasingly important element of every financial plan, especially our service. There are many financial, physical and emotional pressures on business owners, directors and shareholders. It’s very important to have a knowledgeable and experienced third-party advocate to assist in drawing up a plan for your life.
It helps to have someone you can talk to when making decisions around property, employment, children, wills or succession.
An important part of a Business Owner’s Financial Plan is our Online Cashflow Model, which helps us to look at your current cashflow & create potential scenarios. This will allow you to visualise how your financial future situation may look under different circumstances. Paired with stress-testing our proposed solutions up to 10,000 times using deterministic modelling.
The reasoning behind this is: Markets don’t behave linearly, and neither should a future cashflow model. The stress test, called ‘Monte Carlo’ will take into account your current attitude towards risk, and market trends and provide a pessimistic, optimistic and average outcome line which you can see below.
Based on your goals and using certain assumptions, The Cashflow Modelling view will show you in real-time how much money you have now, will have in the future, and how your family or business future could potentially be affected by unplanned events such as loss of personal or business income, illness or even death. This timeline (up to age 100) will help you to see for example: When to increase any investment strategies to cover potential shortfalls, or what the impact of withdrawing money in the future would have on your income.
The idea is that it gives you a detailed vision of your financial future and a better context for making further financial decisions. As an example, it would show you how your wealth would be affected if you were to buy a property in 5 or 10 years, start another business or invest a large sum of money.
Your online portal can be refreshed and updated as your life progresses so it always gives you a true picture of your financial future.
Our Financial Planning Software is available for iOS, Android & Desktop for your convenience.
Minimizing tax liability is key to maximizing wealth as a business owner. Our video breaks down practical strategies for reducing taxes while staying compliant so you can keep more of what you earn.
Take control of your finances and discover smart ways to make your money work harder for you.
Financial wellness is the state of being in control of your financial situation and feeling confident about your financial future. It’s about having a clear understanding of your financial goals and the steps you need to take to achieve them. Financial wellness is important for everyone, regardless of their income or financial situation.
By offering financial advice and creating a comprehensive financial wellness strategy, you can support your employees’ financial well-being while also benefiting your business through improved employee satisfaction, productivity, and retention. Investing in your employees’ financial health is not only the right thing to do—it’s also a smart business decision.
If you’re eager to explore the advantages of integrating Financial Wellness into your business for both you and your workforce, delve into our comprehensive Guide. Discover the range of benefits we offer and how we can assist you in fortifying your business for lasting success.
Navigating the path to financial wellness for you and your workforce is a crucial endeavour. Whether you’re embarking on the journey or already well along the road, this guide is designed to help you with the knowledge and tools needed to make informed decisions and cultivate a financial plan that resonates with your individual and business goals and aspirations.
After you download your guide, one of our expert mortgage advisors will be in touch shortly to provide you with guidance and further relevant information including our offers and packages.
At True Wealth, we believe that smart financial planning and strategic tax advice go hand in hand. That’s why we’ve partnered with Brown & Lombard — one of Ireland’s leading independent tax advisory firms — to offer our clients the best of both worlds.
This partnership provides you with access to expert tax insights tailored to your personal and business objectives. Whether you’re a business owner planning for succession, a company director navigating compliance, or simply someone looking to maximise your wealth, our collaboration ensures you receive a comprehensive strategy built for growth and efficiency.
What this means for you:
Greater tax efficiency in your personal wealth plan.
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Unlock your full retirement potential and reach your financial milestones with a tax-efficient pension review guided by our experienced and qualified Financial Advisors. Schedule your consultation today with our award-winning team and set the course for a well-planned financial future enriched by expert Financial Advice.
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At True Wealth, we believe everyone deserves access to expert financial advice, regardless of their current wealth or financial situation. If you have a passion for connecting with people and aspire to thrive in a culture built on trust, integrity, dedication, and excellence, this could be the perfect fit. Let’s grow together!
