Why Small Businesses Should Consider a Financial Advisor

In communities throughout Canada, small-business house owners are all the time attempting to adapt and develop. 

Often described as pushed and passionate, business house owners must embody these traits—and extra—as they proceed to face challenges that take a look at their resiliency. 

“Businesses have completely changed their operations,” says Drew Collins, a Co-operators Financial Advisor primarily based in Brandon, MB, “like moving much more heavily into the digital side of things and reimagining the way they deliver service to clients.”

Staying afloat throughout the pandemic meant frantic motion on deck. “One minute, you’re an accountant. The next, you’re dealing with a client or you’re managing risk,” Collins provides. “I think it’s really important for small-business owners to seek qualified assistance. You wouldn’t wire a house yourself if you didn’t have that technical expertise and understanding.”

This is why Collins is so obsessed with working with small-business house owners, offering professional recommendation on defending their property with a tailor-made insurance coverage coverage, rising a wholesome monetary buffer and extra. 

Collins is among the many many Co-operators Financial Advisors centered on the evolving wants of native companies. With its vary of insurance coverage and funding merchandise, and with greater than 600 areas, the monetary providers co-operative has established longstanding roots in communities throughout the nation—roots that stretch again greater than 75 years. Protecting Canadian companies is an integral a part of the corporate’s historical past and identification.

Offering the comfort of funding and insurance coverage providers multi function place, Co-operators offers business house owners with a variety of customizable business-insurance choices that may assist to maintain issues operating, if the surprising occurs. 

Options embody broad legal responsibility insurance coverage, in addition to safety in opposition to water or hearth harm, crime, cyber dangers, business interruptions and plenty of extra potential threats. Co-operators has additionally developed distinctive options that provide safety for co-operatives and non-profits—exhibiting the group’s dedication to Canadian communities and the small companies that bolster them. 

But serving to small companies keep away from dangers isn’t restricted to discovering one of the best coverage, says Collins.

“A big part of the value we offer is educating owners on what risks exist within their business, and then determining if the right mechanisms are in place to control those risks – or if they can avoid them completely,” he says. 

“We try to take a more risk-management–based approach. It’s not just about setting up an insurance policy for that individual and for their small business. It’s making sure that we’re helping them understand their risks and how to build their resiliency through protection and mitigation.”

And it’s an strategy that’s constructed on belief, provides Blain King, a Co-operators Financial Advisor in Halifax, NS.

“Many times, business owners feel like they’re out on an island, on their own,” he says. “But where would our communities be without them? I want them to know how we can help.”

King’s dedication to the success of his group is rooted in way more than simply skilled care. He, like different Co-operators Financial Advisors, is a small-business proprietor himself, and he experiences the identical highs and lows that include that journey. That actuality, he says, provides Financial Advisors larger empathy and understanding round simply how troublesome it may be to function a small business. After all, these advisors had been working with small-business purchasers to assist them navigate pandemic-related modifications, whereas they had been navigating those self same obstacles, in the identical communities and market climates. 

Collins provides that this connection to the group, paired with the suitable recommendation and instruments, is what units Co-operators aside. 

“We don’t focus solely on the property and casualty insurance needs of small businesses,” Collins explains. “We don’t focus solely on their wealth-management and investment needs, either. We take a holistic view, getting to know who they are as an individual and as a business owner. That means developing an understanding of the unique risks in their life and in their operations.”

“At the end of the day, these are the people we see at the grocery store and the gas station,” King provides. “These are our friends and neighbours, and we take a lot of pride in being the partners they trust to advise them and help them thrive.”

Click right here to be taught extra about how a Co-operators Financial Advisor may help you.