Learning Center

Fraud and Security   /  Safe Practices for Businesses

Fraudsters pose extreme threats to our clients if we fail to know who we are working with and ensure they have the authority to provide instructions for payments or alter account information. We strongly recommend that our clients perform similar due diligence. Money sent by wire transfer is highly unlikely to be recovered. Working together, we can protect you from phony requests.

Articles   /  Managing Your Business

For all businesses, insurance is a necessity. There are policies to cover the business and its property, policies to cover its employees and owners, and policies to protect against special risks like cyberattacks. While trusted, experienced insurance brokers are valuable to most businesses, there is a point at which commercial companies should consider creating their own insurance company. Our expert shares why and how.

Articles   /  Finance and Money Matters

Over the past decade LIBOR had become susceptible to manipulation, which resulted in lawsuits. After June 30, 2023, loans tied to the LIBOR index will have a new reference rate, as part of the transition away from the LIBOR index. The the Alternative Reference Rates Committee (ARRC), convened by the Federal Reserve Board and Bank, ultimately identified the Secured Overnight Financing Rate (SOFR) as its recommended replacement rate. On this page, we answer frequently asked questions about this transition.

Personal Finance   /  Managing Your Money

Depending on where you bank, you may hear the term “private banking” or “relationship banking.” These terms are often used to describe services for wealthy individuals or people who have accounts beyond checking and savings accounts. But having a banker who knows you and your financial situation is for everyone. Here’s what to look for in your relationship with your bank and the people who work there.

Articles   /  Finance and Money Matters

Governments and large nonprofits have a fiduciary duty to follow strict requirements for deposits to be backed by FDIC insurance, corporate surety bond or pledged collateral. FDIC insurance generally covers up to 250,000 per insured bank, for each account ownership category. Therefore, institutions that have deposits in excess of 250,000 and requirements to insure 100 percent of the funds must do so through other means.

Personal Finance   /  Managing Your Money

Technology promises to make your life easier, and sometimes it does. But what we’re after isn’t the latest app or online feature. What we’re really chasing is something that’s simple and saves us time and effort. When it comes to banking technology, these are the features you should focus on: the ones that actually make things easy.

Articles   /  Finance and Money Matters

Community association managers wear many hats, and the financial duties are extensive. They're also among the first reasons community associations seek a management company. In addition to budgeting and planning, there are dues to collect, frequent expenses to pay and reserves to be accumulated and protected. All of the above require transparent documentation for accountants or auditors. Whether a manager has 500 doors or upwards of 20,000, the right tools can make financial account management much easier for the manager and the communities they serve.

Articles   /  Finance and Money Matters

Deposit accounts are the key piece of your business banking puzzle. Chasing the best interest rate can fragment your finances and keep you from seeing the complete picture. But if you work closely with a financial advisor to put the pieces together as a team – with deposits at the center – you start to see some major advantages.