Best Practices for Providing Financial Advice to Businesses

Trusted financial advice is invaluable for business growth and resilience. But what constitutes truly effective consulting? Here we cover the top best practices for finance brokers to deliver high-value guidance that optimises clients’ stability, strategic direction, cashflow, funding access, and financial performance.

Core Elements of Effective Business Financial Advice

While approaches differ, these vital pillars ensure your advice generates a meaningful impact.


In-Depth Knowledge

Expert understanding of your clients’ industries, business models, financials, goals, and pain points enables insightful guidance tailored to their needs. Knowledge spans strategic planning, cashflow, taxes, regulations, funding options, and more.

Client Priorities First

Keep the client’s best interest as the north star. Align recommendations to their objectives, challenges, risk appetite and strategic priorities. Avoid generic advice in favour of personalised guidance based on their unique situation.

Holistic Guidance

Take a comprehensive view encompassing strategic direction, new markets, innovations, HR, operations, supply chain, marketing, and other vital business elements that intersect with financial strategy. Siloed advice on funding alone rarely optimises overall outcomes.

Proactive Recommendations

Look beyond current needs to anticipate future challenges and goals. Offer solutions and strategies focused on business growth and resilience. Be an insightful advisor, not just a reactive problem-solver.

Ongoing Collaboration

Continuity enables adapting plans as the business evolves. Maintain open communication channels for regular check-ins and reviews to keep guidance relevant. Be a trusted partner in the client’s success journey. Keep striving to achieve the best practices for business financial advice.

Steps to Deliver Effective Financial Advice

  • Ask insightful questions to deeply understand each client before making recommendations.
  • Research the client’s sector, competitors, processes, and previous financial decisions to hone advice.
  • Present clear, reasonable recommendations tailored to the client’s circumstances and goals.
  • Use simple language, summaries, and visuals to offer easily digestible advice.
  • Discuss the pros and cons of different options instead of a single direction to encourage participation.
  • Check the client’s understanding and willingness to implement the guidance. Manage expectations.
  • Offer access to specialists like accountants, consultants, and funding partners like Multifi.
  • Set scheduled review meetings to re-evaluate progress and realign guidance as the business evolves.

Following these best practices for delivering strategic and holistic advice provides true value-add for your clients, enabling lasting success. Partner with multifi today to help fund your clients’ growth.

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