If president Trump is able to accomplish even half of his agenda for the tax code, the business community will be celebrating, expanding, hiring, and this creates a gigantic opportunity for tax office owners to dive in to the “tax planning for business owners” field.
Tax planning for 1040 filers has always been a necessary and lucrative way for financial advisors to meet new financial planning prospects. Solve the tax problems, win the trust, and then become the financial advisor; but many advisors have not put the same effort into understanding the issues of business owners and understanding the opportunities that they create for a financial advisor. We’ll separate this discussion into two categories. There are large businesses. Any company with 50 employees or more, as an example, has a CFO, CMO, internal accounting processes and the opportunity there usually comes from the top down. Meaning, you don’t just get your foot in the door in that size business. It’s usually who you know that gets you in to see CEO`s in that size company. But the small market, ten employees or less, is a great place to build an incredible financial practice. Companies from $1M to $3M in revenue with one to ten employees have a litany of issues from bookkeeping, accounting, payroll, business valuation needs, and the list goes on and on, but financial advisors in the past have not gravitated to helping solve the problems faced by these businesses and their owners.
To win the 401k, the buy/sell agreement sales, DI, the life, and all the other topics in the sea of opportunity for an advisor, they need to learn all of the points of pain for a small business owner, and then develop a process for solving those problems. Tax planning, accounting issues, payroll issues and business valuation issues often quickly lead to 401(k), buy/sell, group life, individual life on the business owner and their business partners, and then their financial planning as individuals. It’s very lucrative, and because of what’s about to happen, if Trump is successful with some of his agenda, it is going to be a fast growing space which very few financial advisors are truly prepared to serve.
Join us for a webinar or a one on one demo introducing the concept of what’s going to be done in the tax space under the Trump agenda, what those opportunities turn into for the issues you’ll need to master, and the way that you can become a small business expert in the field that’s about to become a blue ocean opportunity.
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Paul A. Dyer, CEO
15 Phillips Rd, Suite B
Glenburn, ME 04401
Toll Free ● 866-998-1141