The last 20 years have seen an incredible surge in innovative businesses and technologies, alongside a massive increase in globalization. Business and Finance have become more integrated and complex than ever before – a fact that is best reflected by how the global community responded to the Coronavirus Pandemic – where in spite of massive losses, thanks to the widespread distribution of information and technology in 2020, the global community and especially the global business community were at its best state to withstand the assault.

Financial Consultancy

The Pandemic also made one thing very clear though. Only those businesses that had meticulously planned for such contingencies would survive. The rest – regardless of how superficially robust they might appear, would inevitably perish.
This once again underscores the importance of Financial Consultancy in Modern Business.

De-mystifying Financial Consultancy:

While deconstructing Business Consultancy in the Financial Sector, it is vital to understand the difference between Consulting in the Financial Sector and Financial Consultancy. Consulting in the Financial Sector refers to the provision of a wide range of personal advisory services on issues such as ‘How to invest money?’, ‘What is the best retirement plan?’ etc., while Financial Consultancy services are those that are mainly provided to businesses or companies specific to their individual needs and goals. The individuals and/or companies that provide such services are referred to as Financial Consultants or Financial Consultancies.

financial consultancy

Financial Consultant vs Financial Advisor:

While the difference between the 2 can often be definitional, most companies tend to prefer a Financial Consultant over a Financial Advisor, as the former refers to a licensed professional who comes equipped with extensive knowledge and experience in various key aspects of financial services, including Financial Planning, Budgets, Taxation and Resource Allocation. A good Financial Consultant is able to customize and provide a company with myriad Financial Services, inputs of Insurance as well as Risk Management. These are particularly crucial in today’s uncertain global markets

What are the major advantages that a firm can enjoy by engaging Financial Consultancy Services

For small to medium-sized businesses, there is generally an observed unwillingness to engage the services of a Financial Consultancy Firm as the cost of such services is seen as an unaffordable luxury. Nothing could be further from the truth. In reality, a good financial consultant provides a firm with several advantages:

1. Cost Efficient: Gone are the days when a simple profit and loss analysis could sum up a company’s current and future prospects. Today’s businesses operate in a world of Investor-backed projects, IPOs and continuously changing market trends. In such a scenario, it becomes almost impossible for any firm that is working on securing its bottom line, to keep abreast with all of these developments.

Hiring a top-notch Financial Consultant or Consultancy Firm is far more prudent. It saves the business owner valuable time and resources and allows them the luxury of focusing their attention to growing their business. The full-fledged Financial Consultancy Firm comes equipped with a team of highly trained and experienced professionals who can manage an investment portfolio end-to-end.

financial consultancy

2. It is incredibly Simple: We live in a world where Data is king. But for business owners and investors, filtering out the right data from an avalanche of information can become incredibly difficult. A Financial Consultancy Firm can filter, extract and reorganize the most critical information that a firm would need and provide that in an ‘edible’ form to the business owner.

3. Objectivity in the name of the game: Every business owner and investor is always attached to their enterprise and during times of crisis, this personal investment into the venture can lead to emotional and sentimental as against data-driven decision making. A Financial Consultant is the ultimate ‘Third Party’ in that sense – someone who understands your business as well as you do, but also someone who can help you with objective decision-making.

financial consultancy

4. Multi-functional and Multi-disciplinary Expertise: Unlike a business owner who might possess deep expertise in one field or industry, a Financial Consultant studies multiple domains and sectors, through the ever-dynamic lens of Finance. This is crucial in today’s post-pandemic world as the world of Finance and Business is becoming more and more integrated.

Consult with us:

To understand how your business may benefit from financial consultancy services, it is best to engage established business consultancy experts like Standard Auditors. Spearheaded by some of the best Financial Advisors and Consultants in Dubai, our team is dedicated to providing regulatory compliance solutions across various business verticals.

We believe in long-term partnerships and provide a suite of business solutions that include new market entry consultancy services, new market requirements like business incorporation and registration, bank account opening, marketing services, and regulatory compliance, all of which can be fulfilled through our solutions. We continuously stay on top and help you do the same.