Why should a Montana business owner or entrepreneur have a financial advisor themselves? Aren’t they doing that planning anyway?
There are multiple reasons a business owner or entrepreneur should consider financial planning for themselves. A business plan, no matter how successful, does not automatically mean that an owner or investor has the best financial plan for themselves. A financial advisor for an owner or entrepreneur can help assess finances with a focus on that individual and family, while the financial interests of the business can be different.
What’s an example of how a financial advisor might view a business differently from an owner?
A financial advisor will work to understand all of a client’s assets, and a business that a client owns will be one of those assets. Therefore a financial advisor will also look at how that business, as an asset, affects the client’s other finances. Businesses have their own tax and insurance needs, but owning that business could have an impact on the insurance needs and taxes of the client. The fiduciary responsibility of a financial advisor means that they will have that focus on the client’s best financial interest.
Why do you work in Montana especially?
I was born and raised in Montana. My father had a financial advising practice in Montana. Most of my family is still here. Even when I was working in other places, I always maintained family and business connections here. It’s just who I am; I’m a Montana girl. Our office in Kalispell has roots in the Flathead Valley going back decades. All our team members here are deep into Montana life and culture, as are the business leaders we work with.
Will the financial advisor’s work be effective if the owner’s finances are intertwined with that of the business?
That is a type of complexity that a financial advisor should identify. The complexity that is often a feature of a client’s large-scale finances is in fact something that we as a firm specialize in serving. If the way a client’s finances is embedded in a business that they own affects their financial success as a client, then our team has a responsibility, really a mission, to explain that and make recommendations about the situation.
How did you and your team get the experience to analyze that kind of complexity?
By the time I was 25, I had founded my financial planning firm from the ground up. In the earliest days, I slept on an air mattress in my office while building a client base and keeping the lights on. Today, more than two decades later, our firm has grown to a 16-person team with offices in two states. That journey—from survival mode to sustainability—has shaped how I advise business owner clients. Financial planning for entrepreneurs isn’t just about numbers; it’s about building a business that supports your life, not consumes it.
How can financial planning support that work-life balance for entrepreneurs?
When our team works with clients, we immediately work to understand them, their passions and their life goals. We want the priorities of their financial plan to align with their life goals. Where a client’s goals for a business are part of their life goals, we will listen to that, too, and assess what that means for the client’s financial plan. More than that, because of the way our firm has grown, we can also talk about mechanisms for helping the business goals stay aligned with life goals, and that includes balance. Early in my career, balance meant survival. Later, it became about sustainability. Along the way I learned about hiring ahead of burnout (not after it), delegating authority (not just tasks), creating systems that allow time away (without disruption), and more.
You mentioned sustainability. That’s huge for a business owner.
Absolutely! For our clients, we regularly do estate planning, but as a firm, Piton has also built a succession plan, so we can talk about that, too. In a nutshell, plan for succession earlier than you think you need to! Succession planning isn’t about exiting tomorrow; it’s about protecting optionality. Whether the goal is selling the business, transitioning leadership to internal partners, or passing it on to the next generation, in my experience, the best outcomes can come from planning early. Early succession planning allows you to (1) identify and develop future leaders (2) structure ownership transitions tax-efficiently (3) reduce risk tied to health, burnout, or unexpected events. The most successful exits—and internal transitions—are rarely rushed. They are designed intentionally over many years.
So business planning and financial planning are both long-term processes?
Yes! Both for a client’s financial plan for an owner’s business plan, it is essential to revisit the plan as events evolve. The financial plan that works at startup will likely not work at scale. Growth brings new complexity (multi-state operations, larger teams, regulatory changes, and more at stake personally and financially) so business owners should review their financial plan regularly to (1) adjust compensation and tax strategies (2) reassess risk exposure and (3) align the business with evolving personal priorities. Your plan should grow with you—just as your business does.
Final thoughts?
Building a business from the ground up requires grit, long hours, and belief. But long-term success requires something more: intention. Financial planning gives business owners the framework to grow wisely, protect what they’ve built, and create a life that’s sustainable and impactful—not just successful.
The earlier these conversations begin, the more powerful the outcomes become and the more people can be positively impacted by entrepreneurial discipline and focus.
Michelle Clary, CFP®, CLU®, ChFC®, RICP®, AEP®, is the Senior Wealth Advisor, CEO and Founder of Piton Wealth in Kalispell.
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