In the course of administering an employee benefit plan, many decisions must be made. Whether those decisions are being made by an individual or a committee, the process for making the decision must be prudent. Importantly, if the decision later is challenged by a participant by making an ERISA claim in federal court, how can the person or committee who made the decision demonstrate prudence? Becoming informed is the first step in demonstrating prudence.
Operating Businesses
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Potential drains on business efficiency include groups of remote workers unable to communicate well with one another, tools that make it hard to adapt to changes or new needs quickly, and the high cost of equipment and IT personnel. Cloud-based solutions address these areas and more. In fact, four options provide the opportunity for your business to become more efficient in very little time.
6 Helpful Steps to Transition to Outsourced IT
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If you find your growing business suffering from a lack of support in the technology department, then your company may benefit from outsourcing IT. While some businesses struggle to find room in the budget to add support staff, there are others continually adding staff only to realize they are unable to keep up with demand. An alternative to those issues is to take six helpful steps to transition to outsourced IT.
The Growing Power of Women Owners
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Women have become financial powerhouses exercising decision-making control over $11.2 trillion of investible assets. Women investors from inheritors and spouses to wealth creators and wealth owners are taking a more significant role in managing their families' investments in addition to their philanthropic endeavors. We are also in the midst of a significant demographic shift with dramatic growth of women wealth creators given the entrepreneurial nature of the rising generation. In fact, women are starting early stage technology and healthcare companies at the fastest pace in history.
Gone are the days of meeting a client for lunch, chatting about your offering, and closing the sale over dessert. Clients today look different from those of the past. They make networked purchasing decisions by committee, with diverse roles, interests, and backgrounds. With access to more information and a greater ability to share it, they demand value, access, and alignment from their counterparts. Sales is now a team sport, and to win you must build and manage selling squads that work in complete alignment – not just during client meetings, but before and after, as well.
New cyber breach scenarios are constantly emerging, and they bring with them a variety of new claims. The fact that there’s no industry-standard cyber policy language makes it a tremendous challenge to ensure your Cyber Risk insurance will really protect you. Insurance oversight can lead to costly consequences. It’s critical to know the four truths about cyber risk claims denials, beginning with truth number 1: claims can be denied due to your failure to act.
Directors and Officers Liability: How Insurance Oversights Can Lead to Devastating Claims Denials
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Every public, private, or nonprofit organization needs to be protected from within with Director and Officers (D&O) liability. If a claim is brought as a result of a corporate decision you make, your D&O policy will kick in. Without one, you lose the business and your personal assets. Understand how D&O works on your behalf and ways you can avoid claims denials.
40% of small businesses close their doors following a disaster and never reopen. Natural and manmade disasters can stop your business operations in a flash. It’s best not to leave your organization in a state of emergency. Preparation means making sure you’re covered when the unexpected arises. See how a business interruption policy covers your lost income during a disaster and how it fits with your overall business insurance solutions.
Generation Z and Millennial Entrepreneurs: The Time to Start Thinking about Estate and Financial Planning is Now
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Generation Z and millennial entrepreneurs are known for being innovative, bold, quick-thinking game changers. But too often they ignore the more mundane (but incredibly important) aspects of their personal financial situations and decisions regarding the fate of their business. By investing some of the passion and energy they have for their businesses into estate and financial planning, Generation Z and millennial entrepreneurs can help set themselves, and their businesses, up for long-term success.
This recorded webinar Illustrates how effective annual income tax rates for a C corporation differs, depending on whether it distributes all, part, or none of its annual earnings. This provides a more realistic base against which to compare one's tax rates as an owner of a pass-through business entity, such as an S corporation, partnership, or sole proprietorship (the latter two which may be LLCs).