Bridging The Gap: Understanding The Disconnects and Misunderstandings Between Business Owners and Financial Advisors

This paper examines the gap between business owners and financial advisors, with many owners underutilizing advisory services due to time constraints, cognitive limitations, and a focus on immediate concerns. Factors include advisors prioritizing personal investments over business needs and compensation models emphasizing liquid assets. Using action research and the Elaborated Action Design Research (eADR) framework, this study identifies barriers to comprehensive financial planning and suggests actionable solutions. Aligning strategies with business values, improving client-advisor engagement, and leveraging tools like AI can enhance advisors' ability to address owners' holistic financial needs.