Wealth with Intention

Updated September 2026

One of the most common things I hear from business owners sounds a lot like this. "I already have an accountant. Why would I need a financial planner?"

It is a fair question, and the short answer is that they do different jobs. An accountant focuses on your business's numbers, your tax filings, and tax-aware business decisions. A financial planner focuses on what your business is creating for you personally, including your retirement, investments, insurance, estate plan, and exit strategy. Most business owners benefit from both, working together.

Here is a closer look at how the two roles differ, where owners often end up with gaps, and how to tell whether you have one.

Accountant vs. financial planner at a glance

Updated September 2026 with current contribution limits and SECURE 2.0 changes.

You may be familiar with the retirement plans available to employees, but there is a lot of confusion about retirement plans for the self-employed and for business owners. The great news is that if you are self-employed or own a business, you can create retirement plans for yourself and any employees you have. Offering a plan can even benefit your business by attracting quality people who are in it with you for the long haul.

Either way, a huge advantage of having a retirement plan is that you can begin saving for the future. The earlier you start saving, the better, but there is by no means a "wrong" time to start investing or contributing to a plan.

Choosing a plan is one piece of a bigger picture. If you are also wondering how your retirement savings fit alongside your business, your taxes, and your exit plans, take a look at our post on whether business owners need both an accountant and a financial ...