Ask around about what people want from a financial advisor and you'll hear some version of "someone smart with my money." Ask a business owner the same question, and the answer usually starts somewhere else entirely: trust.
According to CEG Insights' 2024 report Unlocking Entrepreneurial Markets, which surveyed 2,049 entrepreneurs, trustworthiness and expertise came out on top among the traits business owners value in an advisor, with trust ranking slightly higher than expertise. That gap narrows even further for business owners with significant net worth, where expert advice becomes the clear priority, though personalized service and proactive communication both matter nearly as much. Read that closely and a pattern shows up: it's not really about a polished track record. It's about who they believe will tell them the truth, even when it's inconvenient.
Why so many business owners stay self-directed
The same research found a large share of entrepreneurs describe themselves as self-directed. They make most decisions themselves and bring in an advisor periodically, less for direction and more as a sounding board or a second set of eyes. That's not a lack of trust in advisors generally. It's a reflection of who these people are: they built something themselves, and they're not looking to hand over the wheel.
That instinct doesn't mean an advisor isn't valuable to them. It means the value looks different than it does for a more advisor-dependent client. It's less about being told what to do and more about having someone who can say, "here's what I'd flag before you move on this," and mean it.
One advisor or several
When it comes to structuring that relationship, the research found many entrepreneurs prefer a single advisor who understands both their business and personal finances, rather than splitting the two across different professionals. The reasoning tends to come down to alignment. A smaller group who prefer working with multiple specialists cite the benefit of deeper expertise in each area. Neither approach is right for everyone. It depends on how complex the business is and how much the owner wants to coordinate themselves versus have one person doing the coordinating.
Finding the right one
Per the same CEG Insights data, referrals are how business owners typically find advisors, far more often than through online research or advertising. That holds even among younger, more digitally native entrepreneurs. The takeaway isn't that advertising doesn't work. It's that in high-stakes financial relationships, a personal vouch still carries more weight than a polished website.
At Bison Wealth Sarasota, that's the kind of relationship we aim to earn: not just handling the numbers, but being the person a business owner trusts enough to bring the harder questions to.
If you're evaluating your own advisor relationships, the questions worth asking are simple: Do they understand your business, not just your balance sheet? And when something's wrong, are they someone who'll tell you?
About Bison Wealth Sarasota
Bison Wealth Sarasota is a family-run wealth management practice built around three pillars: Plan, Protect, Prosper. We serve both as a Turnkey Asset Management Platform (TAMP) supporting independent advisors with back-office operations, compliance, and trading, and as a family office resource for a select group of local families. Our approach brings institutional-grade planning to a business that still feels like sitting down at the kitchen table. Learn more at bisonwealth.com/locations/sarasota.
Advisory services provided by Bison Wealth, LLC, an SEC Registered Investment Advisor. All investing involves risk, including the possible loss of principal, and no approach can guarantee a particular result.
📌 Media Contact: bmoczek@bisonwealth.com
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