Unlocking new value for SMB platforms with premium financial advisory offerings
As a growing tech platform serving small business owners, your mission is to deliver real value to your users while driving engagement and loyalty. One of the most overlooked, yet essential, services small business owners need is strategic financial advice—both for their business and personal finances. Yet, for most small business owners, accessing to this advice is far from simple.
This is where embedding financial advisory services directly into your platform can make all the difference. By offering this level of support, you not only differentiate your platform but also increase your users' satisfaction, retention, and lifetime value.
Why small business owners need integrated financial advice
Your users—small business owners—are dealing with a unique challenge: their business and personal finances are completely intertwined. From registering their business to managing cash flow, optimizing taxes, paying themselves, and planning for retirement, every decision impacts both sides of their financial life. Yet, traditional financial services are often limited to one area or the other, leaving small business owners struggling to balance both.
By integrating financial advisory services into your platform, you can help your users overcome this complexity without having to look elsewhere for help. You become their go-to source for all things financial, covering areas like:
1. Business structure and registration
Help users make smart decisions from the start. A financial advisor can guide them in choosing the right business structure, setting up tax-efficient systems, and securing startup funding without penalties.
2. Cash flow and tax optimization
As your users’ businesses grow, they need to navigate increasingly complex tax strategies and cash flow management. Embedded financial advisory services can help them set up S-Corps, find tax credits, and optimize their business cash flow, all within the platform they already trust—yours.
3. Retirement and succession planning
For small business owners, planning for retirement requires a tailored approach. Advisors can help users set up Solo 401(k)s, SEP IRAs, and other retirement strategies, while also offering guidance on business succession and exit strategies, all in line with personal financial goals.
Why embedding financial advisory services adds value to your platform
1. Enhanced customer retention and engagement
By embedding a premium financial advisory tier into your platform, you're not just offering users a transactional service; you're providing ongoing, personalized support. This kind of value keeps users coming back, increases engagement with your platform, and strengthens their loyalty over time.
2. Increased revenue per user
Offering a financial advisory service creates an additional revenue stream through subscription tiers or premium services. Users will pay for the convenience of having trusted, personalized advice integrated into a platform they already use. More importantly, the advice helps them make better financial decisions, which in turn improves their business performance—leading to more growth and usage on your platform.
3. Differentiation in a competitive market
In a crowded market, differentiating your platform is essential. By offering embedded financial advisory services, you provide something your competitors likely don’t. This sets you apart as a comprehensive solution for your users, making your platform the obvious choice for small business owners looking to manage both their personal and business finances seamlessly.
The power of human connections in a digital world
While many companies are turning to fully automated solutions, small business owners still prefer speaking to a real financial expert, especially when it comes to complex, intertwined business and personal finances. By integrating financial advisory services that provide both AI-driven insights and access to Certified Financial Planners™ (CFPs), your platform offers the best of both worlds—automation with a human touch.
This human connection fosters trust and strengthens your users’ relationship with your platform. With guaranteed access to advisors via chat or video calls, your users feel supported in their financial journey, boosting their confidence and reliance on your services.
Real results: boosting platform utilization and customer satisfaction
For platforms like Carry and Heard, embedding financial advisory services has already proven to increase user engagement and satisfaction. Carry, for example, saw high adoption of their premium financial advisory tiers within weeks of launch, leading to better platform utilization and higher revenue per user. By providing tailored advice that addresses both business and personal needs, Carry is now viewed as a long-term partner in their users' financial success, rather than just a transactional service.
When users receive expert advice on business structure, taxes, and retirement planning, they not only improve their financial health but also make better use of your platform's existing products, such as tax-advantaged accounts, lending options, or other financial tools.
Future-proof your platform with embedded financial advisory services
The financial needs of small business owners are only growing more complex, and your platform has the opportunity to be at the center of their financial lives. By embedding financial advisory services, you can provide your users with the comprehensive, personalized support they need—all while unlocking new revenue streams and building long-term customer loyalty.
Ready to transform your platform?
Let’s talk about how embedding financial advisory services can help you deliver unmatched value to your users while driving engagement and revenue growth.
