North Carolina Independent Colleges & Universities’ Post

Join ISBA Mutual Insurance Company for our exclusive Practice Management Workshop: The Law Firm Financial Cycle on July 8th in Chicago! This workshop is designed for law firm leaders who want to gain a firm grasp on the financial aspects of their practice and build a solid foundation for growth. Here's what you'll gain as an ISBA Mutual policyholder: - Comprehensive Financial Management: Understand and leverage the financial cycle within your firm to achieve sustainable growth. - Actionable Strategies: Learn practical steps to take control of your firm's financial health. - Solid Financial Foundation: Build the essential systems for long-term financial success. - Future-Oriented Planning: Shift from reactive to proactive financial management and plan for your firm's future success. Our expert speaker, Chelsea Williams, Chief Financial Architect at Core Solutions Group, Inc., will provide the tools and insights you need to optimize your firm's financial systems. Spots are limited! Register now for this exclusive event: https://lnkd.in/gpKDyub3. Don't miss this opportunity to: - Gain valuable insights on law firm financial management - Network with other law firm leaders - Learn about ISBA Mutual's unique services for policyholders, including direct risk management support, practice resources, guides, and educational events. #LawFirmFinance #PracticeManagement

Is long-term care part of your financial planning?

Passing the baton in a family-run business can be rewarding yet complex. Michael Goldstein CLU®, ChFC®, CLTC, AEP® of Prudential Advisors and Jennifer Strojny Milligan of Strojny Financial Services share how careful planning, early involvement, and open communication are key to a seamless transition. Learn more about their strategies and insights. https://hubs.la/Q02YYNPP0

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The Vision Behind AdvisorLink by Joe Cantanucci I want to share the story behind AdvisorLink and the vision that drives us. After spending over 22 years with an insurance-based broker-dealer, I realized the future of financial advisory lies in independence. Here's why we created AdvisorLink and how we aim to transform the landscape for advisors. In the financial advisory world, there are two main models. On one side, you have the employee-employer model, typically found in insurance-based broker-dealers or wirehouses. Here, you're a W2 or statutory employee. The payouts might be lower, but you benefit from training, development, performance coaching, and access to experts and resources that help you grow. On the other side, there are independent advisors. They enjoy better economics, higher payouts, superior tech stacks, and a broader array of strategies and solutions for clients. There are no conflicts of interest because there’s no product manufacture. However, independence comes with its own challenges. You're on an island—no one cares if you're growing or losing clients or about your work-life balance and back-office support. It’s all on you. This stark contrast in the industry led us to create AdvisorLink. We wanted to offer a solution that combines the best of both worlds. AdvisorLink is for advisors who want to transition to independence but need support in launching, transitioning clients, and setting up their business. We help with legal counsel, choosing the right tech stack, and providing marketing and client development support. For those who are already independent but feel isolated, AdvisorLink offers a lifeline. We provide back-office support, risk management, fee-based planning support, and access to professionals and experts in various areas. AdvisorLink stands in the middle ground, offering the support and resources typical of a financial services firm while maintaining the independence that advisors crave. You own your business, your client relationships, and your assets. You have your own DBA, but with the backing of AdvisorLink, you can run your practice smoothly and efficiently. Call to Action  If any of this resonates with you, I invite you to reach out for a conversation. At AdvisorLink, we're here to help you transition to independence or provide the support you need to thrive in your existing practice. I look forward to the opportunity to work together. The creation of AdvisorLink is about more than just filling a gap in the market. It’s about empowering advisors to achieve their full potential without sacrificing the support and resources they need. By bridging the divide between traditional employment and full independence, AdvisorLink offers a path to a brighter, more secure future for financial advisors and their clients. 

Preparing for the unexpected is a key aspect of financial planning. Here are a few important things to understand.

A recent Deloitte FP&A and Actuarial Study of life insurance companies found that many insurers struggle to integrate their FP&A and actuarial processes, which can negatively affect their ability to manage enterprise performance. Companies consistently cited a lack of connected solutions to enable collaboration and information-sharing between FP&A and other functions. Sitting as a key connection point between strategy, operations, reporting, and valuation, if the right level of collaboration and the right toolsets are put in place, the FP&A function would be uniquely positioned to deliver true and timely business insights to drive value creation. Laura Blainey Phil Gough Ophelia Au Young

If, as a financial advisor, you’re doing administrative work, you’re limiting your income. An MDRT member shares how delegation helps him reach his goals in the MDRT Blog at https://bit.ly/4e9E3aW.

How often have you did a review for your own financial planning? Recently i had a chat with a friend of mine who is also a cofounder of a company. His company has grown over the years and valuation of the company has also increased tremendously. Hear from him his success story and of cos the behind the scenes which nobody sees it. Managing a team of 40, making sure everyone livelihoods is secure, to making sure operations are running well, to fighting fire everyday, those are just part of his jobs. 24 hours in a day isn’t enough anymore. Whether he is at home or on holiday, you will see him having a laptop with him. Anytime, when there’s some gap, he will start working. Then he told me his cofounder is leaving the business for better opportunity. And now left him, one person to lead the company. Instead of feeling down, he feels future is promising and will fight out to lead the company to better heights. I told him about his keyman insurance which he had previously, and we need to do a review for that because, now it is even more important. The hours he had put in, and the effort he has grown the company will be gone if anything unforeseen happens. His family will not get a fair value of the company and the 40 lives in the company will be hanging. We have a meeting to discuss how we can set up more for the keyman insurance. Either using running cost for the company or the valuation of the company. We managed to get it all up to current value. Taking care of all the employees as well as the benefit of the co-founder family.

October is National Financial Planning Month! Take charge of your financial future by setting goals, creating a budget, and investing wisely. Financial planning isn’t just about saving—it's about building a life you love. Let’s get the conversation started today! LINK: https://bit.ly/3ZOT4v2