Architecture firms should take the time to establish meaningful fee collection practices so that they can remain financially solvent. Avoiding fee disputes with clients helps maintain positive working relationships while safeguarding the ability to provide services on future projects, including those of existing clients. Timely collection of fees is essential since architecture firms do not…
Read MoreTopic: Small firms
Four ways life insurance protects the people you love
You might be surprised how The AIA Trust life insurance coverage from New York Life Insurance Company can provide for you and your family.
Read MoreDo you know? Virtually everything can go wrong!
Welcome to the “new normal” – a seemingly alternate universe where working in an office has become burdensome and employers and employees alike are often at odds as to what a work-life balance looks like. As if the practice of architecture wasn’t complicated enough, our post-pandemic reality challenges firms to adjust to a remote workforce…
Read MoreThe consultant behind the curtain
Conventional wisdom dictates that all successful construction projects have a great team. The project team is typically viewed as being the Client, Architect, and Contractor. However, other seldom discussed yet equally vital members of the team, are the Owner’s financial partners, which includes Lenders and Investors, along with their Construction Consultants.
Read MoreHealth Insurance for Employee Architects
Note: The AIA Trust is pleased to provide these updates annually. The below information was reviewed and edited in 2023 to prepare firms for 2024. It is critically important that all architects have health insurance coverage for themselves and their families. Often younger people believe they are in good health and since health insurance…
Read MoreHealth Insurance for Small Firms
Note: The AIA Trust is pleased to provide these updates annually. The below information was reviewed and edited in 2023 to prepare firms for 2024. What Happened to the Small Employer Insurance Market? As the cost of providing medical care increased in the mid-eighties, employers and insurers tried a variety of tactics to slow it…
Read MoreWhy Should Architectural Firms Consider Selling to an ESOP?
By: Steven Greenapple, SES ESOP Strategies, a Stevens & Lee Company When contemplating a sale of their business, the owners of a Company have several alternatives to consider. They can (1) sell to a financial investor (private equity or family office); (2) sell to a strategic investor (another business who wants to expand into the…
Read MoreQuestions from Members – LegaLine in Action!
During AIA Trust Week, one of the webinars shone a spotlight on LegaLine, a legal information hotline specially tailored to respond to the needs of small firms and sole proprietors managing an architectural practice.
Read MoreThe Importance of Employee Benefits for Small Business
For small-business owners, the importance of employee benefits is a significant factor when it comes to attracting and retaining talent. The majority of workers prefer attractive types of employee benefits—like insurance, paid time off, and a retirement plan—more than pay raises. Whether you’re competing for talent or keeping the high performers you already have, small-business…
Read MoreProfessional Liability Safety & Other
Bridging the gap: Navigating the risks and mitigating claims in construction contract administration services
Introduction In recent years, the design industry has experienced a significant disparity in experience levels among the workforce in the field of construction contract administration (CCA) services. With a visible gap between junior staff (1-5 years of experience) and senior staff (10+ years of experience), many firms are finding themselves in a conundrum, compelling less-experienced…
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