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Looking for a Corporate Financial Planner? Ask These 5 Questions First

By RWB Wealth7 October 2024

Just thinking about getting financial advice for your company can be a lot, let alone navigating the internet to find one that suits your business. However, choosing the right corporate financial planner can be crucial for your business's success, especially when it comes to complicated areas like cashflow forecasting and overall wealth management. Here’s some things to consider to help you:

Understanding the Role of a Corporate Financial Planner

A corporate financial planner isn’t just any financial expert; they’re specialists who understand the ins and outs of business finance. Their expertise often includes critical areas for business health such as cashflow forecasting, helping businesses optimise their financial performance, and planning for sustainable growth.

What is Cashflow Forecasting

Cashflow forecasting is a vital tool used by businesses to predict their future financial health. This process involves estimating the amount of money expected to flow in and out of your business. It allows you to make smart decisions about where to allocate resources, when to invest, and how to manage risks.

The Significance of Choosing the Right Financial Planning Company

Choosing the right financial planning company is more than just hiring expertise; it’s about finding a partner that aligns with your company’s values and financial goals. A good match can significantly enhance your ability to navigate market challenges and seize opportunities for growth and stability.

Looking for a Corporate Financial Planner? Ask These 5 Questions First

Essential Questions to Ask

Choosing the right financial planning company is more than just hiring expertise; it’s about finding a partner that aligns with your company’s values and financial goals. A good match can significantly enhance your ability to navigate market challenges and seize opportunities for growth and stability.

1.What Experience Do You Have with Business Like Mine

Experience in your specific industry can significantly enhance the planner's ability to create relevant and effective financial strategies. Ensure the planner has a proven track record with businesses similar to yours and can understand your unique challenges and opportunities.

2. How Do You Approach Cashflow Forecasting

Understanding a planner's approach to cashflow forecasting will give you insights into their skills and how they could manage your financial needs. It’s crucial that their methods are solid, forward-thinking, and tailored to your business’s specific circumstances.

3. What are Your Credentials and Qualifications?

Always check the qualifications of a potential planner to ensure they are certified and capable of handling your corporate finances. Recognised qualifications and ongoing professional development are good signs of a committed and knowledgeable planner.

4. Can You Provide References from Other Clients?

References from other businesses similar to yours can give you peace of mind and insights into the planner’s performance and reliability. This feedback can be invaluable in deciding whether they're the right fit for your business.

5. How Will You Communicate with Us?

Effective communication is key. Make sure their communication style and frequency match your expectations. Regular updates, transparency in reporting, and accessibility in times of need are all crucial factors. It's important to establish upfront how often you will have meetings, whether these will be in person, over the phone, or via video calls, and how they will handle urgent queries.


A planner who is proactive in communicating and transparent with information can greatly boost your confidence in their service, ensuring that you are always well-informed and comfortable with the management of your finances.

Reasons You May Not Need a Corporate Financial Planner

While having a corporate financial planner can be incredibly beneficial, it's not always necessary for every business. Here are a few reasons why you might not need one:

Owner's Expertise: If you, as the business owner, have substantial experience and knowledge in financial planning, you may prefer to manage the finances yourself.

Strong In-House Expertise: If your business already has a solid finance team with expertise in financial planning and management, you may not need an external planner.

Simple Financial Structure: mall businesses or start-ups with straightforward financial structures may manage effectively with basic accounting and financial management tools.

Short-Term Projects: For short-term projects or temporary financial issues, it may be more cost-effective to consult with a financial planner on an as-needed basis rather than committing to an ongoing service.

Final Thoughts

Choosing the right corporate financial planner is a decision that should not be taken lightly, as it can significantly impact the financial health and growth trajectory of your business. By thoroughly vetting potential planners through the key questions outlined above, you can ensure that you select a professional who not only understands the specific needs of your business but also aligns with your company's long-term objectives. The right planner will offer transparency, tailored advice, and ongoing support, helping you to navigate the complexities of corporate finance with greater confidence and effectiveness.

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FAQs

What should I expect in terms of costs when hiring a corporate financial planner?

Costs can vary widely depending on the complexity of your needs and the expertise of the planner. Expect a clear breakdown of fees for regular services, and inquire about any potential additional costs for specific advice or unexpected situations.

How often should I review my business's financial strategy with my corporate financial planner?

Yes, a skilled corporate financial planner can play a crucial role in crisis management by providing strategies to improve cash flow, reduce costs, and restructure existing financial commitments to navigate through tough times.

What is the difference between a financial planner and a corporate financial planner?

While a financial planner typically focuses on personal finance issues, a corporate financial planner specialises in business finance, offering strategic advice tailored to corporate entities and their unique financial landscapes.

How do I know if my current financial planner is the right fit for my business?

Evaluate your current planner based on their responsiveness, the relevance of their advice to your business, their understanding of your industry, and their ability to provide proactive solutions and insights. If your current planner falls short in any of these areas, it might be time to consider a new option.


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