Financial Affairs is one of the most important strategic decision support mechanisms of a company or for an individual. A strong Financial Affairs function is indispensable for a strong company. From strategy to implementation, organization to processes, budget planning to reporting, internal control to internal audit, technology to data, human resources to legislation, regardless of the reason, size and timing; Financial Consultancy is an element that must be evaluated.
The wide areas of responsibility of the Financial Affairs and the importance of having a structure that does not try to adapt later to the dynamism that institutions should have, but on the contrary, has to assume the leadership in this direction, shows that a transformation is inevitable. This transformation may take the form of a step-by-step journey over time, or it may require major end-to-end changes.
Every year, thousands of companies are established, and just as many are shut down. Few of the established companies can achieve the desired and targeted success. 76 out of 100 newly established companies close in the first 6 years. The main reasons for this situation are; SMEs cannot explain themselves and their investment projects well to banks and banks cannot find expert financiers to direct and manage the business.
It is seen that only 10% of the survivors have grown, and the others have not been able to achieve the desired growth and performance without showing any significant improvement. Firms and companies that have prepared a professional business plan at the beginning are 2.5 times less likely to go bankrupt than others. When the structure of the surviving companies is examined, it is seen that almost all of them perform their financial management with the support of professionals. Every company has a goal of realizing the projects it targets and growing. However, very few find the financial means to do this.
In the period when profit margins are minimized and collection maturities are getting longer, not being able to find financing with the most suitable maturity and lowest rate brings bankruptcy. Many of the companies that have overcome the obstacles and entered into credit relations with banks cannot make price and cost analysis. In other words, while it can obtain the same loan with lower prices, less commission and longer terms in other banks, it is sometimes deprived of this opportunity due to weak bargaining power or lack of information. The high financing costs also destroy the competitive power of the company.
Many companies with character, honest and trustworthy are deprived of the financing resources they deserve because they cannot explain themselves to financial institutions well enough and cannot arrange their financials properly. Companies that cannot provide the necessary investment financing are lagging behind the competition every year. They lose their competitiveness due to the obsolescence of the machines, their inability to meet the demand and their inability to carry out the necessary modernization.
Today, the finance and financial affairs department and the processes related to these departments are indispensable for individuals and companies. Today, from the smallest company to the largest international company, it has to be the financial affairs process department.
And How To Manage Your Funds As An Individual?
These were the basic reasons why a company should consider a financial advisory service. But what should be done or what to consider as an individual employee or a retiree? How to manage finance out of your monthly income or savings? Professional financial advisors could be the one-stop solution for such situation. Financial advisors are people who give advice on financial matters. Today, these individuals also offer services in the fields of private pension and life insurance. They are people who advise individuals or institutions on how to evaluate their movable or immovable assets and provide consultancy services on these issues. In addition, they also offer advice on insurance services. It is a profession that has emerged especially from the economic crises, uncertainties and developing economies. The financial advisor advises people to make the most accurate, strong and consistent decisions about their assets in the face of developing economies.
A renowned professional financial advisor, James Crosson, explains everything in detail. Being an industry-leading financial advisor, a lecturer, and a registered representative at Lincoln Financial Securities Corp, he assists companies, individuals, and charitable organizations make financial decisions that create value and manage risk. You can also visit the website in order to know more about the services he offers.
Crosson explained that financial advisor deals with all monetary matters of individuals or institutions. The financial advisor first evaluates the financial situation, investments, assets, returns, tax planning, retirement plans and risk tolerance of the people or institutions he will work with. Crosson undertakes the portfolio management of the institution he consults, analyzes and report on the future of financial markets, carries out the feasibility studies of investment environments, prepares and supervises the balance sheet analysis, manages relations with banks, supervises and plans all movements related to money, makes financial planning meetings for the institution or person he works with, develops financial strategies by guiding the customer according to financial goals, makes offers to the customer regarding monetary matters, retirement and life insurance, and informs and explain the advantages and risks to the customer.
In order to consider a financial advisor for yourself, you must check if that professional offers the services that James Crosson does. These are the most basic services that every financial advisor offers. Financial Advisor, with his knowledge, education and professional experience, are experts who examine and regulate your entire financial situation, including investments, loans, savings and payments, identify your needs, draw up your risk-return profile, create portfolio models, produce solutions and help you plan your future.
A professional financial advisor gives you consultancy services, provides information about banking and finance, conveys all the details and shares the tricks. He allows you to manage your investments profitably and to pay less expenses and commissions.
Bottom Line
A financial advisor closely monitors your financial needs and investments. Provides portfolio diversity and protects you from risk. He offers you investment opportunities according to your return expectations and makes it easier for you to make a choice by evaluating them together. He examines your retirement plans, warns you about your fund distribution changes, and only thinks about your interests.