Twelve Points Insights

Having grown up near the ocean in Massachusetts, I’ve always had respect for hard-working fishermen and women. But I don’t think I’ve ever met anyone who loved the smell of fish. Let’s be honest, it’s not the most pleasant aroma, which is why saying something “smells fishy” has a negative connotation. When something smells fishy, it’s an indication that something is wrong and needs your immediate attention.

There has been a recent flurry of university lawsuits because of issues with educational institutions’ retirement plans. Yale, MIT, NYU, Duke, Columbia, Emory, Vanderbilt, John Hopkins and Penn are just some of the universities being sued for allegedly not acting in the best interest of their employees.

Co-Founder and Principal Dave Clayman was recently awarded the Certified 401(k) Professional designation, or C(k)P®, by The Retirement Advisor University in collaboration with the UCLA Anderson School of Management Executive Education. The C(k)P® designation distinguishes financial professionals who have demonstrated the knowledge and experience to favorably impact the outcome of corporate retirement plans.

In his monthly segment as financial reporter for Radio Entrepreneurs in March, Manny Frangiadakis spoke with program host Jeff Davis about mitigating taxes. Their discussion covered saving, spending and various tax planning strategies for business owners.

Growing up in a family business, I learned that you are only as good as the people you surround yourself with. To quote my father Paul Federico, “My employees are my greatest asset. I make sure they know that every day.” Most companies put retirement plans in place to retain and reward their employees, but what they don’t realize is that they need to constantly monitor those plans. If they don’t, not only can it hurt their employees, but it can also hurt them.

Manny Frangiadakis’ inaugural segment as the monthly financial reporter for Radio Entrepreneurs took place on February 27th, 2015. He and host Jeff Davis discussed the importance of having a retirement account and strategies for mitigating taxes for business owners. For most business owners, it’s a priority to figure out a financial strategy that benefits their business, their employees, and potentially helps them save money on taxes in the process.