As an architect saving towards retirement, you know that employer-sponsored plans, such as 401(k)s and IRAs, are the best ways to invest for retirement. While both are good options, if you’ve already maxed out your contributions to those accounts and want to save more, an annuity may be a good investment to investigate. …
Read MoreResource Type: Article
Blockchain: 5 Things to Know Now
While the conventional wisdom around blockchain is that it’s a technology only affecting financial markets, design and construction stakeholders ought to pay attention to new developments, too. If you don’t, you risk falling behind on an important trend that potentially presents a competitive challenge for your firm. You also risk missing the opportunity the technology…
Read MoreWhy I Purchased Life Insurance at 25
Everyone’s situation is different Mine began recently with a bunch of firsts: my first job, my first apartment and my first life insurance plan. I am now 25, single with no children, some disposable income–and life insurance coverage. How did this happen? The conversation began at work. I asked Bill, a colleague and mentor in…
Read MoreWalking the Thin Line on Indemnification
With increasing frequency, architects and other design professionals are being asked (and in some cases, even required) to sign agreements in which they undertake to indemnify their clients against any loss that the clients may suffer in connection with projects for which the design professionals have provided services. In some cases, the indemnification clause is…
Read MoreHow Employment Lawsuits Can Destroy Your Firm
Small firms are the most vulnerable to crises, disasters, and lawsuits. In fact, according to the US Chamber Institute for Legal Reform more than 40% of small firms were either involved in or threatened with a lawsuit due to A) administrative oversights or errors, B) undelivered services or C) poor quality of service, much lower…
Read MoreSolving the Long Term Care Puzzle
Assuring quality long term care for a loved one is far more complex than simply arranging for care and figuring out how to fund it. There are many legal and financial issues and obstacles that arise. While insurance is a key component to funding long term care, assuring quality care and dealing with the legal…
Read MoreThe Reality of Virtual Architectural Practice
A webinar, Virtual Architectural Practice—An Alternate Reality, presented by the AIA Trust in partnership with the AIA Practice Management Knowledge Community, showcased current virtual practitioners, a legal expert, and an insurance expert who shared their insights in a 90-minute session. The webinar was designed to help you understand the many benefits of a virtual practice…
Read MoreCoping with Inevitable Firm Transitions
Every firm has a life-cycle. Professionals leave firms to practice individually or to join another firm; a firm might dissolve as a business entity or be acquired by or merge with another firm; or, firm owners may retire or be unable to continue providing professional services. These firm transitions require special protection, and they should…
Read MoreCould Your Firm Use a PEO?
A Professional Employer Organization, or PEO, also referred to as HR outsourcing, is a business model that helps small to mid-sized businesses manage the everyday HR needs that smaller businesses struggle to handle alone, such as paying employees, filing payroll taxes, providing health insurance (and other benefits), getting workers’ compensation coverage, developing employee policies, managing…
Read MoreGrowth versus Value Stock Investments
If you are like many architects, you understand the value of saving for the future and proactively contributing to your retirement accounts. As a firm owner or as an employee of an architecture firm, there are many retirement savings options such as a 401(k) plan or an IRA product. But once retirement assets begin to…
Read MoreGrowth versus Value Stock Investments
