A Supplemental Executive Retirement Plan (SERP), also called a top hat plan, is a non-qualified retirement plan used to attract and retain key level executives in a company. The most important asset of any company is its employees and companies are always exploring ways to reward and retain their most productive executives. A SERP is a deferred compensation package offered … [Read more...]
Networking 101: Are You a Giver or a Taker?
March 16, 2013 by Leave a Comment
This article is a guest post from Fifth Street's latest venture, the Securieon Group. Whether you provide professional services or a product, the best reference you can receive is from someone who has had a positive experience with you and your company. This is an obvious statement. So why do some professional service providers appear to secure more business … [Read more...]
Retain Key Employees with 7 Easy Strategies
October 1, 2012 by Leave a Comment
One of the most exciting things about running a company is being able to build your team by hiring new employees. Accomplishing effective growth is dependent on your ability to create the right culture and benefits portfolio that will allow you to attract and retain key employees. Building a high performing team depends on retaining key employees and motivating them … [Read more...]
Six Bad Reasons to Skip Key Person Protection
October 1, 2012 by 1 Comment
Do we need Key Person Protection? Time and again I hear reasons why key person protection is not needed for a company. I thought it might be interesting to take the top reasons I hear and discuss them here. 1) The Chance Of Ever Needing It Is Slim Key person coverage is NOT just to protect against catastrophic events. In fact, the two most common scenarios … [Read more...]
Business Risk Assessment & When to Act
September 14, 2012 by Leave a Comment
Business Risk Assessment Business risk assessment must be based on two important criteria: probability of occurrence and financial impact if it occurs. Based on this analysis, we categorize risk into three buckets: 1) completely ignore, 2) monitor and be prepared to address 3) need to take immediate action. Let's explore several examples to distinguish the different … [Read more...]
Client Testimonials
March 16, 2012 by Leave a Comment
BENEFITS BROKER: Fifth Street Financial Group As Group Health Brokers, we help design quality employee health benefit packages to attract better recruiting candidates and improve employee retention. SkinnyScoop Team says: "Barbara and Brian were easy to work with and understand the needs (and budgets) of a startup. I highly recommend talking with them if you are … [Read more...]
KEY PERSON INSURANCE IS ESSENTIAL FOR BUSINESS OWNERS
January 27, 2012 by 1 Comment
PLAYING RUSSIAN ROULETTE WITH BUSINESS OWNERSHIP You have sacrificed a lot to build your business. You have put in the countless hours, taken that late night meeting, and flown numerous miles to close that deal. We have all deferred sleep to complete the proposal, negotiated that contract till exhaustion, or practiced the pitch until … [Read more...]
5 REASONS TO FIRE YOUR INSURANCE ADVISOR
January 18, 2012 by 2 Comments
LACK OF INTEGRITY IS A FOUR LETTER WORD More than any other, the insurance industry has been plagued with mediocre or unscrupulous advisors. There are always those few agents who choose to either sell product firstly, or put their needs ahead of the client. I have worked with these slimeballs. For those of us who try hard to bring both professionalism … [Read more...]
DO BUSINESSES NEED CORPORATE DISABILITY INSURANCE?
December 31, 2011 by Leave a Comment
Assume the Risk or Pay the Premium Most companies can justify the cost of key person insurance to fund their buy-sell agreement. However, most business owners look at disability protection with the same interest as whether to add whip cream to their mocha. Is this the correct mentality? Maybe. Let's evaluate the choices a company should consider and … [Read more...]
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