One of the questions I often ask business owners is simple: when was the last time your CPA, attorney, financial advisor, and insurance agent sat down together to talk about your life and your business? For most owners, the answer is never. Each of these professionals plays an important role, but too often they work in silos. The result is that you get advice in pieces rather than as a coordinated strategy.
The problem with siloed advice
Your professional team may be excellent individually, but without collaboration, they can unintentionally work at cross purposes. For example:
· A tax strategy may reduce your liability in the short term but create issues for estate planning down the road.
· A contract provision may protect you legally but reduce your flexibility in a future business sale.
· An investment strategy may look strong on paper but miss opportunities because it is not aligned with your tax or legal planning.
When no one is connecting the dots, you are left to manage the big picture yourself. That is a lot of responsibility for a business owner who is already focused on running a company.
The value of a quarterback approach
A better approach is when someone acts as a quarterback, bringing all of your advisors into the same conversation. In that room, they are not just looking at numbers or documents. They are looking at your life, your goals, and your business. Together, they can identify issues, discuss solutions, and bring back a unified plan that makes sense for you.
Here is what that coordination looks like in practice:
· Your CPA, attorney, and advisor align on a business transition plan that reduces taxes and protects your family.
· Your insurance agent ensures coverage matches your current risks rather than outdated assumptions.
· Your advisor ties it all together with your long-term financial goals and exit strategy.
Why it matters at exit
The need for coordination becomes even more critical when you prepare for an exit. Taxes, contracts, wealth planning, and family considerations all intersect. If your advisors are not working together, you risk losing value or missing opportunities. If they are aligned, you gain clarity, confidence, and a strategy that helps you move forward.
Bringing it back to you
Getting your professional team in the same room is not just a nice idea. It is a necessity if you want integrated advice that protects both your business and personal wealth. The earlier you start this process, the more options you create for yourself and your family.
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Read more articles by Richard Brent Dvorak