Assembling your business advisory team

What do many successfully run businesses have in common?

They understand the importance of a collaborative team of trusted business advisors. Generally, a business team consists of key advisors; attorney, insurance advisor, investment advisor, certified public accountant (CPA) and banker.

Most business owners have individual relationships with their advisors, but may have overlooked a key element to ensure the success of this team, teamwork. Have you ever shared your latest investment strategy with your CPA and learned it creates negative tax consequences due to your individualized tax structure?

Have you spoken to your attorney about an entity structure suggestion made by your CPA, only to learn that it presents unforeseen legal challenges? These scenarios rack up fees, and cause delays in execution. Regular team collaboration prevents costly errors.

We recommend that our clients meet with their entire team frequently (at least semi-annually and more frequently during times of growth/change), to address challenges faced individually and by the business.

Randy L. Watkins
Partner
970.352.1700
rwatkins@acmllp.com
www.acmllp.com

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