Meet a Sloan Partner: Stan Swartz

What’s the biggest financial mistake most people make? And what’s your advice to avoid it?

Too many people aren’t getting educated on the financial markets.

Don’t leave investing up to others.  Do your own research. Or you could be disappointed by the results.

Don’t be afraid to know.

Protect your business

Be sure to have a  succession plan – what to do if you get sick, long term illness, death or other setback.

What at are your most financially successful (and wealthiest) clients doing right?

The most successful clients are taking measured risks.

What Led You to Accounting?

I’ve been a professional accountant since 1969. I spent the first twenty years as a government auditor  in the provincial and federal governments, as well as at multi-nationals and family-owned companies.

I met Allen Sloan, who had opened his own practice. We each brought in clients we had before, and together we’ve grown our firm over the past twenty five years. Later Jerry Paskowitz joined and over the years we added others.

Describe what you do on a regular basis?

I have a leadership role on the partnership management team.

I help small and  medium sized business owners. Essentially, I  give them value based on my experience, who I know, and what I know.

I try to stay on top of what their needs are. I don’t like to see things stagnate. I’ll  work with them to determine what the future of business could be, whether there is  a financial cliff coming, and if there is how to deal with it..

I give them the guidance I think they need, become a resource for them, so they can manage better. I want to make sure they’re working on their business.  Their business is a substantial asset that should be growing.

I help people know what the business needs, or should need.

I provide an interpretation of their financial information.

I want my clients to  feel comfortable picking up the phone to ask a question.

Tell us about your family.

My wife is an artist and insurance broker. My son works for the Ontario Privacy Commission, and my daughter studied wildlife biology and became a veterinary technician. She now works for a veterinary laboratory.

What is your biggest piece of advice to business owners?

Get good information on your business. Know your business. Know your competition. Know what your employees are doing. Know your results.
Grow the business; don’t throw good money after bad money. If there’s a problem,  fix it, if not determine a reasonable conclusion.

What’s the most common challenge you see people struggling with during tax time?

Getting organized.

People need to get their documents and paperwork ready,  The second issue is not having a basic  understanding of the income tax rules.

Stan Swartz is one of Sloan Partners founding partners and has over 35 years accounting experience, helping businesses of every size with long term financial planning and everyday money management. Click here to learn more or book a consultation with Stan.

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