Unsure What Type of Financial Professional to Hire? Here Are 7 Suggestions

If you’re a business owner, most of your day-to-day activities probably revolve around money, either directly or indirectly. There are several financial issues that you’re likely to encounter at some point in your business. And while you can successfully handle some of these issues, there are some that you’ll have to hire a helping hand. But there are different types of financial professionals. And if you’re unsure about the type of financial professional to hire for your situation, do not worry. We’ve prepared 7 useful suggestions for you. Please read on.

1. When to Hire an Accredited Financial Counselor

If you’re in debt or are involved with some money habits that could negatively affect your business in one way or another, hiring an Accredited Financial Counselor (AFC) will be the best decision for you right now. These professionals have a wide understanding of finance in general. AFCs have also been properly trained on financial counselling and education matters, putting them in a better position to help manage your finances efficiently and to get out of debt. If bad habits are as a result of your current financial situation, the professional will advise you on how to change and overcome such and related habits. For instance, you may have reached a financial standstill yet you’re having some outstanding invoices. The professional will advise you on the most reliable invoice financing platforms where you can turn your outstanding invoices into cash flow and keep your business running. Isn’t this amazing?

2. When to Hire a Certified Financial Planner

Having a long-term financial plan is very essential both to you and your business. The plan ensures that you have a concise decision on important aspects of your life and your business such as the insurance, taxes, training, estate planning, and retirement among other aspects. In most cases, you’ll need to consult the services of a financial professional. And a Certified Financial Planner (CFP) is the expert you should go for. A CFP will help you with your financial needs when there’s a need to create a long-term financial plan. They’re well knowledgeable with several financial scenarios and common mistakes most people make when they lack an effective long-term plan in place. The professional will assess your current financial position and help develop an effective plan to achieve your financial goals.

3. When to Hire a Chief Financial Officer

A majority of start-ups encounter different forms of failure during their initial years due to the owners’ lack of proper understanding of the financial dangers of the business. If you could be thinking that you’ll need help from a financial professional only when the business becomes big and strong, then you’re wrong. The early stage is the most critical stage for every business especially when it comes to equity investments and bank loans. Therefore, if you’re operating a small start-up business and you need help with banking, financing, capital, investor relations, and insurance issues, you’ll need to hire a Chief Financial Officer (CFO). The professional will guide you through the financial red flags of the business and how to successfully grow your business.

4. When to Hire a Bookkeeper

As you grow your business, there will reach a time when you’ll be spending too much time inputting and processing reports each and every time. You’ll spend too much time solving problems related to your management software. And since you’ll be having other business responsibilities to attend to, you’ll risk failing in one or more areas. This is not what you’d want for your business, or would you? Of course not. You should consider delegating the “numbers” to a financial professional. And a bookkeeper will be the best option for you in this situation. The professional will help you input and process the reports and solve your software problems within the shortest time possible and in a professional manner.

5. When to Hire a Certified Public Accountant

Recordkeeping tends to become complex and more challenging as your business grows. The tasks may become full-edged accounting where only an expert could help. And this is where you’ll need a Certified Public Accountant (CPA). The accountant will help redesign your accounting system and in cost accounting – determining the cost of a specific service or product. Perhaps, you can relate to the economic business decisions that you get to make each day and the consequences of uninformed decisions on your business. But hiring an accountant will save you the hassle. The accountant will advise you on the relevance of using financial statements to make informed decisions and in communicating with auditors and bankers. The professional also understands the federal, state, and local regulations and will help you abide by them.

6. When to Hire a Chartered Financial Analyst

For your business to achieve more success, you’ll need to invest more and more. But you’ll agree with me that not everything you’ll invest in will be worth the financial sacrifice, right? Again, managing your investments may be very challenging and stressful, especially if you have little or no knowledge with this. Lucky for you, this is what Chartered Financial Analysts (CFAs) are trained for. The professional will help plan and manage all of your investments and also work on maximizing them. So, why fail and regret when you can hire a CFA to help you?

7. When to Hire an Enrolled Agent

Are you having some difficulties with the preparation of tax returns? Well, no need to stress yourself anymore. You need to consider hiring a helping hand from an Enrolled Agent (EA). The professional will help take care of your tax preparations and the estate taxes. Plus, there’s more that an EA can help you with, especially if you’re looking for a way of saving as much money as possible. The EA can offer services like bookkeeping and accounting.


Hiring a financial professional will help enhance your trust in the person towards ensuring an effective relationship and business success. These suggestions will help you identify the type of professional that will be a perfect fit for your financial needs. Also, there are several other relevant blogs where you can learn more about different types of financial professionals and how you can benefit from their services. Good luck!

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About Dequiana Jackson

Dequiana Jackson, Founder of Inspired Marketing, Inc., helps overachieving women entrepreneurs conquer limiting beliefs and create marketing plans that win. This includes one-on-one marketing plan development, digital product creation, web design and content marketing. Dequiana is the author of Know Your Business: How to Attract Ideal Clients & Sell More and runs the award-winning blog, Entrepreneur-Resources.net.

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One comment

  1. I can imagine that having CFO can be really useful to a business. Outsourcing CFO can potentially grow a business faster. It was really interesting to learn about when you should hire a Cheif Financial Officer.

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