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  • 12 Reasons Why You Shouldn’t Ignore the Best Full-Service Brokerage Firm

    In my initial days of trading, somebody had advised me to hire the services of a full-service brokerage firm but I did not, considering its high brokerage fee. Trust me; I regret that decision even today. It was completely my foolishness to think about saving a few pennies by not hiring a full-service brokerage firm. This regret was even more intense when I hired its service a few years down the line and found the worth.

    Nonetheless, if you do not wish to regret the same, then just don’t ignore hiring the best full- service brokerage firm. It might cost you a little higher as compared to a discount brokerage but the services they provide are worth the cost.

    Offer multiple financial instruments: Unlike discount brokerage, full-service brokerage firm offers a wide range of investment products, including stocks, mutual funds, IPO, real estate, insurance, wealth management, portfolio management service and many others. So, no need to run from pillar to post for investing in different financial instruments. Just hire the service of a full-service brokerage firm and you’re sorted.

    Offer online trading facility: Almost all the best full-service brokerage firms are now offering an online trading facility due to which investors can trade at any time and from anywhere without an intervention of a broker. Moreover, their online trading platforms are available on all devices such as desktop/laptop, mobile and tab, which further offer convenience to the investors.

    Provide guidance and advice: Full-service brokerage firms do not limit their services to offering various financial instruments but provide personalized advice and guidance to the investors. They carefully evaluate the financial background of each client and offer investment option in accordance with their goals and requirements.

    Direct access to the research: Here come the most vital perks which you can enjoy by hiring a full-service brokerage and that is the direct access to the research reports, including fundamental, technical and quant.

    Make investment decision on behalf of the investors: There are many investors who like to be completely dependent on the brokerage, even during the time of decision making. Full-service brokerages come to their help and make decisions on their behalf, keeping the requirements in mind.

    Help you achieve investment objectives: A representative of the company corresponds with the investors, probes their problems and then offers suitable solutions for helping them to achieve their wealth-building goals.

    Access to track your investment performance: With a full-service brokerage firm, you can track your investment performance and take the next step accordingly.

    It saves money: On contrary to many people’s belief, a full-service brokerage firm saves your pocket as you do not need to pay any extra bucks for the research reports and analysis. Also, since most of the full-service brokerages offer online trading, they offer paperless transaction which further saves your hard-earned money.

    Experience: Full-service brokerage firms are experienced and expert in a wide range of financial solutions and products since they handle various unique portfolios, each with different investment requirement and objective.

    Client service counts: Full-service brokerage firms are usually equipped with a skilled and experienced client service team so that the investors get investment advice and solutions around the clock, whenever required.

    Research and advisory: Since research is the key pillar of any full-service brokerage firm, you are sure to find an in-house team for research and advisory who is dedicated to provide with the latest research report of the stock market and offer valuable advice based on the investment objectives.

    Suitable financial products: You can rest assured to receive suitable financial products and solutions if hired a full-service brokerage house because the latter always keeps your financial status and requirement in mind while offering the solution. If they feel that you require investing in a multi-cap growth fund, then they will offer nothing less than the best multi-cap growth fund.

    So, now you must be fully convinced that why you should not ignore hiring a top full-service brokerage firm.

    Narnolia Securities Limited is a premium full-service brokerage house that offers a wide range of financial service like trading, portfolio management, mutual funds, NPS and many others. Having a clear objective of creating wealth for the investors and uplifting the overall financial well-being of the country, Narnolia has crafted a reputable name as a wealth management firm.

  • Top Energy Efficient Upgrades for Your Investment Property

    Top Energy Efficient Upgrades for Your Investment Property

    Owning a home is a keystone of wealth. But you can’t expect a profit if you don’t invest in your property. You have to take extra care to upgrade the energy efficiency of your property which will create a path for you to make more money out of it.

    But there are people who still believe that this is tenant’s responsibility and even some landlords make them pay for it which is a big NO-NO if you want to do this business for a long time.

    Remember, people are your most important investment. When you are investing in your property that means you care about your property as well as the tenants. Keeping that in mind today’s article is about some important energy efficient upgrades for your investment property which you can also think of some landlord success tips –

    Measure & Manage Your Energy Consumption

    Before you step forward to invest take some time to measure your energy consumption of your property. The most effective way to monitor energy efficiency of your property investment is to install an electricity monitoring system. It will not only track the changes but the tenants can also monitor their own cost and minimize it if necessary.

    Use Energy Efficient Lights

    Replacing old fluorescent lights with LED lights is a long term investment and can save up to 75% energy cost. Energy saving yet brighter lighting can make your tenants more comfortable and they won’t need to bother to change lights very often. You can make your tenants feel important by taking care of such things and they will value your property too.

    Replace Old Air Filters

    Changing your air conditioning system’s air filter is easily forgotten. But this quick fix is an important issue to keep your system running and may prevent costly future repairs. Regularly (in every 90 days) replacing your air filter helps to reduce indoor air pollution. Sometimes at the time of inspection, it might appear clean but looks can be deceiving. There might be dust and small particles inside the filter and leaving a filter for too long with dust can decrease efficiency and harm the system.

    Seal Doors and Windows

    The older your rental properties are the more the doors and the windows might have gaps or shaky lock systems or broken glasses. I would suggest to check all the doors and windows thoroughly in daylight and reseal the gaps properly. Change the locks and the glasses if needed for safety reasons and keep a set of extra keys.

    Seal Ducts to Control Temperature

    Check out the ducts if they are connected properly or if there are any leakage or not. This ducts leak so much of their heated and cooled air into the attic, basement or crawlspace in a typical house. But if you wrap the ducts with insulation can slash hour HVAC costs by almost 30%. It’s not as simple as applying duct tape to the joints as duct tape does not last long on ducts. It might cost you a bit but it’s safer and long lasting if you hire a pro for this job.

    Change the setting on the Water Heater

    If you notice you will see that the default temperature of most water heaters is 140 degrees. But wait! You won’t be needing this much heat for your shower water to be hot. The Department of Energy recommends to keep the setting to 120 degrees (I recommend to keep it 100 degrees) as turning down the temperature of your water heater can save 3 to 6 percent energy cost. But if you lower the temperature too much then tenants might think that the water heater is broken and panic for it.

    Upgrade Old Household Appliances

    Appliances like a refrigerator, washing machine, microwave etc. account for 30% of your household energy consumption. The energy use in an average Australian household produces 12 tons of greenhouse gases per year. So updating your household appliances can save up to 10% energy bills. Big improvements have been made to refrigerators. They now use 40%-50% less energy. If your fridge was made in 90’s then you can save $120-$250 by switching to a new one. Modern dishwashers can save up to 10-12 litters per load compared to the old one. These wash better using less electricity. If your air conditioner is older than 20 years then replacing it with a new one can save you $20-$90 dollars on your annual energy bill.

    Calculate Your Return on Investment

    If you are investing on your property then you better calculate the return on your investment. According to your investment, you can figure out the amount you want to increase in existing rent amount or the value of your property. You can get back a percentage of your invested money within 3-4 years by saving 15%-20% energy bills or reduced tax.

    Benefits of Energy Efficient Upgrades

    • Energy efficiency upgrade will improve your indoor comfort
    • Certainly, you can save money on energy bills
    • Duct sealing or replacing air filters can reduce moisture issues
    • This might increase your building or apartment resale value
    • You can increase your rental amount

    With all these benefits anyone who cares about their rental property will obviously want to upgrade to the energy efficient home but it might not be possible to complete all these upgrades at a time for everyone as it may cost you a fortune. Don’t get worried if you are short in money. List out the most important upgrades that are needed to be done immediately and start working on them accordingly. It’s advisable not to rush and compromise your upgrades but to take some time and do the best you can.

    David Nicoll is a freelance writer and an independent blogger who writes for finance, insurance, investment and rental properties related niches like St George Underwriting Agency.

  • 7 Biggest Myths Business Owners Believe About Using Copyrighted Material

    7 Biggest Myths Business Owners Believe About Using Copyrighted Material

    Understanding copyright law can be a daunting task. It can be confusing for business owners but the costs of copyright infringement can be quite high. You can be asked to pay a huge fine for using someone’s intellectual property without asking them. There is a heavy penalty for copyright infringement.

    You might have great idea and you might want to protect your work and safeguard it. Here are the 7 biggest myths business owners believe about using copyrighted material that can help you plan:

    1. I can use small amount of copyrighted material without a problem.

    There is no safe percentage or portion of work that can be copied without permission. Using even a few seconds of songs or few lines of text without prior permission can be termed as copyright infringement. And for this the person involved in copyright infringement can be heavily penalized.

    2. I can copyright my idea.

    Copyright protects original works of authorship in a tangible medium of expression. Books, music, software etc. are capable of protection by a copyright. Ideas are not copyright-able since they are not original works of authorship and are intangible. Descriptions can, however, be copyrighted.

    3. Since I’m not making money off the material, it’s fair use.

    Fair use is a defense to a claim of copyright infringement. This is a myth that can at times be true but only on case-by-case basis. Parody of a song is an example of fair use. There are certain factors that determine whether or not the use is fair use. The effect of use of copyright on its market is an important factor.

    4. I can copyright my business name/logo/slogan.

    Trademark and copyright are used interchangeably by many entrepreneurs but they may be wrong in doing so. Trademark is a word, phase or logo that identifies the source of a product or service. It is designed to prevent the customers from being confused as to the source of the service or product.

    5. I tried to find the author/photographer, but couldn’t, so I can go ahead and use the work.

    There are no possible solutions to this problem and it can be a frustrating problem. It has confused and created tension for many people. There is no guidance or law for this but to use the material, you should be sure to perform a risk/benefit analysis.

    6. Someone else posted an infringing image on my website, so I’m not liable.

    You might be liable for that. The Digital Millennium Copyright Act (DMCA) offers a safe harbor for owners whose websites contain infringed material posted by a third party. They can post DMCA notice on their website and take down procedure on the website’s T&C.

    7. The woman in the photo ain’t a celebrity. Therefore, I can use her picture

    Wrong. All individuals have a right to publicity and they have the right to protect their name, voice, image whether or not they are famous or not. The law provides statutory damages for violating an individual’s rights for commercial use.

    This article has been contributed by Simmi Setia, Content Writer at LegalRaasta.com

  • How Does Beacon Resources Stay Ahead of Job-Search Engines?

    How Does Beacon Resources Stay Ahead of Job-Search Engines?

    In today’s job market, any company that posts a job opening online is almost guaranteed to get an avalanche of resumes in response. Then the work begins to sort through an individual’s job experience, skills and references to determine which candidates to interview. If you’ve made a typo, highlighted the wrong skills or made one of a hundred different missteps in applying for the job, you may not make the first cut.

    Recruiting is Our Business

    Beacon Resources is one of the top finance recruitment agencies Orange County employers use to avoid what has become a labor-intensive process to fill a job opening. We use several different tools to meet the needs of job candidates, including the ones noted here.

    Recruiting Experts

    Our recruiters are expert in matching applicants with firms. They have deep knowledge of the local job market and are highly skilled in recruiting methods. Many of our recruiters have worked in the accounting and finance industry, and they know first-hand what it takes to succeed there.

    Relationships

    We have built and nurtured professional, long-term relationships with a great number of financial and accounting firms throughout Orange County and surrounding areas. We value these relationships, and we work hard to fulfill the expectations of both our business clients and job candidates.

    Personal Service

    Our recruiters provide one-on-one service. We’ll meet with you to learn more about your skills and career goals. We also want to know more about your personality and what makes you tick. Our goal is finding both you and our business clients a perfect fit.

    The Right Candidates for the Right Jobs

    At Beacon Resources, we excel at placing the right candidates in the right work environment, and we take great pride in doing it. Do you need help transitioning to a new position or finding a first job? Submit your resume today through this online form. Our finance recruiters will get the ball rolling.

  • Importance of credit management during economic growth

    Importance of credit management during economic growth

    Why overdue debtor levels increase during times of economic growth, and 3 steps management can take to avoid the negative consequences.

    It’s a little known credit management fact that outstanding debtor levels increase during times of economic growth!

    But 3 credit and debt collection practices can keep cash-flow strong and reduce business risks.

    Introduction

    Managing working capital is vital in both periods of economic growth, and many countries such as Australia are forecast to enter a period of economic growth.

    Cash flow stresses on businesses are caused by management getting distracted away from credit management during, and immediately following, periods of change in economic growth.

    Outstanding debtor levels increase in both situations of economic slow-down and economic growth, and the negative effects are many – working capital comes under significant pressure, bad debts increase, paying your own bills becomes difficult, business risks increase.

    Businesses should review their credit policies and increasing management focus on collections early in a shift to economic growth to prevent an impending increase in outstanding debtors.

    Debtors increase during slow-downs, and during growth

    The importance of tight management of cash flow and outstanding debtors during economic slow-down is widely known. Debtor payments slow down and bad debts grow during periods of decline in economic growth, as debtors’ businesses suffer from falling sales and cash flow difficulties.

    Less well known is the fact that overdue debtor issues are also significant during economic growth. In both cases management tends to respond behind the curve, when the problem has already developed:

    • As economic slow-downs start to hit, typically management’s first response is to tackle the immediate and obvious symptoms of the slow-down, such as falling demand and falling sales.
    By the time management turns to chasing outstanding debts, the debtors are struggling with their own problems caused by the slow-down, and collecting the much needed cash is difficult and can be expensive.

    • During periods of increase in GDP growth, typically attention also diverts away from credit management, to the immediate and attractive pressures of increasing sales and the requirement for increased production and delivery.

    By the time attention turns to collecting outstanding debts, management finds that credit has been extended to debtors who are not creditworthy, and too much credit has been extended to other debtors, so collecting the much needed cash to fund growth is a slow and laborious drag.

    Practical steps to take in advance

    The good news is, there are practical steps management can take in advance, to protect their working capital and margins, for periods of growth and slow-down. Here are 3 steps to keep the cash rolling in and avoid unhappy business risks:

    1. Review credit policies
    • Set value and timing limits on all customers’ credit. E.g. no more than $20,000 credit, and no more than 30 days overdue.
    • Are credit checks made on all new customers?
    o Check each new customer and set credit limits accordingly
    o Catch slow payers early – make a diary note to review the payment pattern of each new client 90 days after their first purchase – ask slow payers to pay up to date and stay current – restrict further credit until paid up to date.
    • Regularly refresh credit checks on existing customers who pay late, and review their credit limits according to credit check results.

    2. Increase collection speed and effectiveness
    • Follow-up all outstanding accounts quickly to help Debtors to learn that they might be able to pay other creditors late, but they must pay you promptly.
    o Treat terms of trade as a fixed requirement, not a flexible guideline
    o Follow-up non-payment immediately its overdue
    o Apply a short-cycle follow-up regime, e.g. at 14 days a reminder, 7 days later a Final Notice, 7 days later a legal Letter of Demand.
    • With persistent late payers:
    o Send a reminder letter one week before the account is due for payment, reminding the debtor that payment is due in a week.
    o Send an overdue notice, email, or phone call, 2 days after debt is due for payment.
    o Send a Final Notice, 14 days after payment is due.
    • Act quickly to get priority payment:
    o Debtors priorities their payments according to which creditor chases them most firmly.
    o They usually pay Debt Collection Agencies before other creditors.
    o Get priority payment of your debts by engaging a Debt Collection Agency early, to get your troublesome debts paid first.
    • Switch to a Debt Collection firm that:
    o Offers free advice to resolve tricky debtor situations.
    o Provides Final Notice letters on their letterhead, which you can send directly to debtors, for zero debt collection commission on payments.
    o Has no fee-per-letter for sending demand letters on their solicitor’s letterhead.
    o Charges a flat-fee commission, around 10%.

    3. Make credit review a regular priority focus
    o Businesses benefit from making credit review part of their regular operating rhythm.
    o Monthly review is too low frequency – daily or weekly management focus on outstanding debtors is best practice.

    Summary

    Australia is forecast to be entering a period of economic growth. During economic growth, credit policy and collection disciplines tend to loosen, which results in excessive working capital being tied up in outstanding debtors.

    Loose credit policy and collection disciplines cause cash flow pressures that constrain funding for growth, cause increased bad debts and introduce more significant business risks.

    There are actions management can take to prevent an increase in outstanding debts and to collect outstanding debts more quickly and effectively.

    Management should consider taking those actions now, in advance of the growth forecast.

  • Want A Successful Retirement Strategy? Here’s What You Need To Know

    Want A Successful Retirement Strategy? Here’s What You Need To Know

    A survey by Ipsos/USA TODAY revealed that one in three Americans plans to work during retirement. The reason? Too much debt and not enough income! This makes evident the lack of proper planning on the part of retirees and pre-retirees. The truth is, most people find it hard to transition smoothly from an employed life to a retired life. Walking away from a life of regular income and employer-provided benefits after almost 30 to 40 years isn’t the easiest thing to do, so you need to plan ahead if you wish to minimize the effects of these major life changes.

    However, formulating a strategic retirement plan is not a rush job. Different people have different concerns when it comes to retirement – some wish to make their savings last while others want to cash in on retirement benefits. So, a one-size-fits-all approach is never going to work here. What you need is a comprehensive plan that utilizes every available resource for a comfortable retirement. Find out how you can devise such a plan below:

    Why Time Matters

    The success of your retirement plan depends on how strong your foundation is and that, in turn, depends on your current age and the expected age of retirement. Usually, the longer you have until retirement, the more risks your portfolio can withstand. Pre-retirees and retirees no longer have the option. But instead of fretting over this, what they need to do is have a portfolio that focuses more on capital preservation and income.

    • If you’re planning to retire soon, the best course of action would be to go through your employer’s policies on profit sharing and 401(k) matching, and time your retirement in a way that allows you to reap all the vested benefits that come your way well before they expire. Have a talk with the HR department and check your retirement benefits to see if there is a way to increase it.

    • Also, be sure to apply for the pension five months in advance. Request a benefits statement and take a look at your payout options, if available. Coordinate your pension payout to minimize your tax liability and meet your financial requirements at the same time.

    While planning your retirement strategies on time is important, there is one thing that you can afford not to be worried about—inflation. Studies show that a 64-year-old is likely to be less impacted by inflation than someone who just started his/ her career.

    Plug the Insurance Gap

    A person retiring before 65 may have a lapse in his/her insurance coverage before he/she is eligible for federal health insurance. If your employer lacked provisions for retiree health insurance benefits, you might consider some other individual insurance policies to tide you over until you become eligible for Medicare. However, do not neglect long-term care insurance and life insurance.

    Know What You Want

    It is one thing to realize you need to plan for your retirement; it is another thing altogether to go through with the actual process. Most people shy away from doing the latter partly due to the complications involved and partly due to how long it takes. But a little forethought and expertise can go a long way in simplifying the process and ensuring you do not sell yourself short on any of the perks you are owed. Minimize tax liabilities by taking advantage of all the benefits offered by your employer and planning how you’re going to manage your retirement income. Consult a financial advisor, if necessary.

    Understand the Risks

    Every retiree should aspire to have proper portfolio allocation – the kind that balances return objectives effectively with risk aversion. This will determine the extent of risk you’re willing to take for achieving your retirement objectives. So, it is important to feel comfortable with the risks in your portfolio and differentiate between a luxury and a necessity. This is something that you need to discuss seriously not just with a financial professional but with your family members too.

    Stop Trying to Outsmart the Market

    Finances are tricky. There is always a certain degree of uncertainty involved, which is why you can’t prevent anything bad from happening; all you can do is plan for it beforehand. So, stop trying to outsmart the market. Flexibility is a better choice in these uncertain conditions than sticking rigidly to a plan. This is why most financial experts recommend diversifying a retiree’s portfolio and ensuring all options are not in the same area. When the money is spread around into different types, you end up taking fewer risks. As they say, it is never a good idea to put all your eggs in a single basket.

    Check Back on Your Retirement Plan Often

    Make it a point to review and update your retirement plans every quarter. That may sound a little specific, but there’s a reason behind it – anything less, and you end up losing opportunities; anything more, and you become too emotionally involved with minor fluctuations in the market. So, your best bet is to schedule an appointment with a retirement account specialist and learn more about the allocation plans for your funds.

    Investing Retirement Funds? Plan Wisely

    Retirees should think about consolidating their accounts and rolling 401(k) funds into an IRA so that they can manage it more easily and enjoy greater investment freedom. On the other hand, there are a few retirees who find the investment options with employer-provided 401(k)s cheaper than the ones bought independently. However, it is best to discuss your options with a financial expert and select the option that maximizes your income to get the level of economic flexibility you desire. You should also check whether your beneficiary designations have been set up properly to ensure your retirement benefits go exactly where you want them to go.

    You must have intimate knowledge of your own finances and make careful, informed decisions if you’re planning to create a strategic retirement plan that meets your requirements. But expecting a retiree to do all that instead of enjoying the final stage of life is unfair. So, it is better to designate this task to an expert – a financial advisor who is familiar with the process and understands the correct steps that you need to take for ensuring financial stability in future.