Blog Posts

By: Michael J. Searcy

When a law firm was told they needed to pay $40,000 into their cash balance plan to cover a non-highly compensated individual, they decided a financial second opinion might be beneficial. After meeting with an advisor that helped interpret the language they didn't understand from their actuary, they knew their second opinion request had paid off. They discovered they could classify the employee in a more appropriate way and need only fund about $2,000 to the plan!

Getting a financial second opinion could be one of the most important financial decisions you make this year. Sometimes the findings can solidify the fact that your current advisor is doing a great job, giving you peace of mind about the advisor you have chosen.

By: Michael J. Searcy

Working with a financial advisor requires a great amount of "trust" on your part, but that trust should not be developed based on feelings and verbal promises. Real trust can be built when you follow these 6 guidelines for choosing a financial advisor.

Know their structure.
There is a difference between a stockbroker and a financial advisor. Stockbrokers are in the business of giving advice on investment vehicles, while financial advisors can help with both investment advisement and developing a financial plan to reach your goals. However, some financial advisors may be limited in ways they can help you based on their professional affiliations.

By: Michael J. Searcy

When your children believe they are dealing with someone they know and trust, it can make them more vulnerable to undesirable situations. Did you know you can also fall victim to the "stranger danger" mentality of thinking that the only people who might cause you harm are people you don't know?

Some Reasons Why People Do Business with Friends Include:
• Friendships are built on trust so you feel that trust would carry over to business
• Their verbal propositions seem caring and genuine
• You believe their knowledge of the industry is equal to others
• They offer you "extras" that non-friends wouldn't receive

By: Jessica Kmetty

As employees become more educated about issues associated with retirement plans in America, they look to their employer for the answers and guidance. Business owners are being challenged more than ever to provide efficient, cost-effective retirement plans and the guidance to help their employees reach a dignified retirement. With the time associated with running a plan, employers who don't have help may find these challenges hard to meet. And, even if they delegate the management of their retirement program to an employee or designate a financial advisor to help with the management, they are still the figurehead from whom employees will demand answers. To face these challenges, they must act as leaders, gain their employees' trust, and help them utilize their retirement plan to reach their goals.

By: Michael J. Searcy

Using money you've worked hard to earn on your business makes sense. While other people are spending money on new cars or vacations, you hardly miss the funds you spend on your business because the prize at the end of the spending tunnel is in sight. You can see how the funds are helping to reach your goal of building a successful business.

Treating your retirement fund like another business is a strategy that can help set you up for future success. Payments you make today toward your retirement are funds that can be saved and invested to experience the benefit in the future. Think about why you own your business... Chances are you find joy in watching your business grow, and you expect it to provide a future payoff or benefit after years of dedication and hard work.