The 7 Biggest Financial Mistakes Made by Successful Entrepreneurs

And What To Do About Them

Bruce Frankel
THEY’VE GOT IT ALL WORKED OUT—OR DO THEY?
It seems logical that successful entrepreneurs must have optimized finances. They’ve got the nice house and the boat and the tropical vacation; they must know what they are doing and have the best experts watching out for their interests. Unfortunately, despite their success in business, their finances are often a mess.

As a Certified Financial Planner, Bruce Frankel has seen it all. In his new book, he details the 7 biggest mistakes he’s seen from his clients—successful owners, shareholders, and executives of closely held small to medium-sized businesses—over the years: 

• Choosing the wrong advisor team
• Inappropriate entity choice and structuring
• A shortsighted tax strategy
• Failing to create a business continuity plan
• Inadequate protection from wealth predators
• Following the conventional “wisdom” of Wall Street
• Failing to plan for a business transition

​Frankel explains how, through strategic financial planning and with a team of trusted and collaborative experts, entrepreneurs can protect and grow their wealth for their legacy. After they have transitioned from the business, the company will continue to thrive, and they can ensure that their family—and their community—are properly cared for.

Bruce brings together over 20 years of incredibly diverse real-world experience, advanced degrees, and designations in business and finance to help people not just understand the opportunities they are missing but also what to do about it! 

Bruce Frankel is an author and public speaker, the managing partner and wealth consultant of Eckhoff Wealth Management, LLC. With experience in international and domestic business issues and consulting, he is the cocreator of The Wealth Impact Process, serves as portfolio manager for the firm and is responsible for general business planning and management. With his deep knowledge of entity structuring, tax issues, and employee and executive benefits, Bruce is particularly well positioned to assist clients with business planning—from inception to transition. He also enjoys using his knowledge and experience to implement investment plans for successful business owners and executives that help them reduce their tax liability while also saving for retirement. 

Bruce is the author of a series of articles, Frankel-y Speaking: How the Sausage Is Made in the Financial Services Industry.