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Types of financial consulting – 3 main types

In the international and Russian practice of consulting services, several varieties of financial consulting are used.
Consider the three most popular and popular types of advice.
Type 1. Training Consulting
The customer receives from consultants useful information that helps to put into practice new forms of financial control. Knowledge is transmitted in the form of trainings, less often thematic lectures.
The most effective way to convey to the client the necessary thought is to show him how the information obtained is applied in practice.
Coaching is also very popular in consulting. A specialist with this skill helps the customer to find the best solution on their own.
View 2. Expert Consulting
Such consulting involves the development of specific expert solutions and their implementation in the activities of the customer’s company.
At the same time, an analysis of business processes in the enterprise and the diagnosis of existing problems are carried out. It is important for consultants not only to detect symptoms, but also to identify the cause of the current state of affairs.
Example
The young company, which grew out of a successful startup and is focused on the mass consumer, has an office in Moscow and is trying to promote its services to the federal level. Managers have no experience on such a scale.
The director invites consultants who calculate the company’s budget and determine the approximate costs needed to expand the sphere of influence. Consultants have already engaged in such activities in the past, so they know how to avoid common mistakes and minimize costs.
The transition to a new format under the guidance of experienced advisors is painless for the customer, since consultants are introducing an innovative financial system at the enterprise.
Expert consulting
Expert financial consulting is a costly service, but the costs of it almost always pay off. Business consulting is closely related to this type of consulting assistance, about which there is a separate publication on the site.
View 3. Project Consulting
This type of consulting implies close contact of consultants with the company’s personnel. Advisors develop a large-scale project to optimize business processes and begin to consistently implement it in practice.
The point is that each participant in the process understands the meaning and ultimate goal of the innovations. If this condition is met, the return on the project will be maximum.
3. What does financial consulting include – an overview of basic services
The ultimate goal of consulting – the financial stability of the enterprise. Customer business becomes more efficient and profitable. Unprofitable areas and branches of the enterprise are either optimized or eliminated. Records management is simplified or automated, managers and employees work in a new format.
However, each business has its own difficulties. When ordering consulting from a third-party company, company executives focus on specific services that are best suited for the current situation.
I offer an overview of the most popular services on the modern market of financial consulting.
Service 1. Analysis of the financial condition of the company
In fact, the company orders an independent audit of its activities in order to identify the most unprofitable or, conversely, the most profitable areas, correlate expenses with revenues and create a starting point for building a new development strategy.
This service is especially relevant for those enterprises that do not have their own financial department or it is staffed by employees with no experience.
Having learned how the financial situation in the company is, the management makes further decisions of the investment plan, reviews personnel, marketing and management policies.
In the next stages of development, the firm may need more targeted assistance in business reorganization. In such cases, order personnel or management consulting.
Service 2. Planning and implementation of the investment policy of the client company
Investment activity of the company forms its future. Properly disposing of assets, the company receives an additional competitive advantage. A sustainable business is a business in which free money works on itself.
Not all merchants who know how to make money know how to save and multiply them. Even fewer businessmen know how to make a long-term investment plan so that the business develops and brings guaranteed profits in the future.
In such situations, the assistance of experienced financial advisers is invaluable.

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