Repeat business is extremely important for financial advisors, which is why they need to focus on serving existing clients, writes Bryce Sanders of Perceptive Business Solutions. Among Sanders' suggestions are having fair pricing, treating existing clients with respect and engaging on their terms.
The federal COVID-19 relief package contains provisions that experts say will benefit the construction industry. Among those provisions are $10 billion for states' departments of transportation as well as $82 billion for education, which will go at least partly toward school construction and renovations.
President-elect Joe Biden is expected to name former financial regulator Gary Gensler to serve as chair of the Securities and Exchange Commission, sources said. From 2009 to 2014, Gensler chaired the Commodity Futures Trading Commission.
Generational meetings can streamline the estate planning process and get everyone on the same page. These meetings can also present an opportunity for advisors to encourage money-saving strategies and offer peace of mind.
Waiting until December to start tax planning can result in stress and bad decisions. Wealth strategist Randy Fox recommends asking clients in January about their plans and expectations for the year and checking in with them every three months.
The average retiree has only 39% of the recommended savings amount of $465,000, according to two surveys from real estate data firm Clever. The surveys also found that retirees took on nearly $10,000 in debt in 2020.
Only three of 16 construction categories are forecast to show growth this year, according to a hiring and business outlook for the industry. Alternative health care facilities, warehouses, and water and sewer facilities are expected to grow slightly, while declines in other sectors could range from 3% for hospitals to 64% for retail.
A Connecticut electrical contractor has agreed to pay more than $3.2 million and enter a monitoring agreement to resolve accusations that it violated the federal False Claims Act. Federal officials say the business fraudulently certified certain work as being done by a disadvantaged business enterprise to qualify for DBE credit.
Officials of Guelph, Ontario, are working with a surety to complete a delayed police headquarters project. Subcontractors claim they weren't paid fully for their work, and the bonding company took over the project after the city cited contractual deficiencies in removing the original general contractor in June.
Design-build contractors must have proper documentation to demonstrate that contractual obligations are fulfilled, two attorneys write. One area that contractors need to focus on is how changes sought by the owner can increase costs in terms of time and money, according to the attorneys.