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4 Workers’ Comp Mistakes New Business Owners Make

One of the primary concerns for new business owners is what type of insurance or bonding they may need before beginning operations. This is always largely determined by the industry and type of work they will be performing. Of course, the number of people employed by the business will matter as well. All of these questions will have an impact on the necessary operational expenses for all new business owners.

Workers’ compensation is assuredly one of those major concerns because it is often a legal requirement and a significant component of the business operating budget. Here are a few mistakes to avoid when setting up your business, and evaluating the workers’ compensation insurance needs.

1. Failure to Maintain Coverage.

The first mistake many business owners make is not providing any coverage for workers. Not only is it required by law for most employers, but it can leave the owner vulnerable … Read the rest

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Unbiased reveals award-winning advisers

Online adviser directory provider Unbiased has revealed the first winners of its new Trusted Professional Annual Awards.

The awards are for financial advisers, mortgage brokers and accountants and were presented at an online ceremony this week. Entrants were nominated by clients and peers.

The top award, the Unbiased Excellence Award, went to IFA Antony Cotchobos of Aurum Capital.

He received a particularly high number of nominations from clients, Unbiased said. One client praised his “clarity and transparency.” He was also highly rated for presenting multiple options and patiently explaining the features of each one.

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The client said: “With Antony, I always had the feeling he was working for me. A very positive, really professional experience.”

The winners were:

Unbiased Excellence Award: Antony Cotchobos, Aurum Capital London

Financial Adviser of the Year: Mary Hemingway, Truly Independent (highly rated for helping a client who feared he had lost all his

… Read the rest

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These 5 major gym chains still make it annoyingly hard to quit

Gyms have been among COVID-19’s most dramatically impacted victims, due to the transmission risks of packing heavily breathing people into a confined space for hours at a time. But there’s one thing the pandemic hasn’t changed: It’s still exasperatingly difficult to get out of a gym contract.

Fitness clubs have long relied on long-term membership agreements to prevent flighty customers from abandoning their New Year’s resolutions without a financial penalty. But given the public health considerations of the coronavirus pandemic, gyms’ generally stringent membership cancelation policies—specifically, requirements that members must visit a physical location or send a certified letter to terminate their contracts—have come into relief.

Information on outbreaks linked to gyms paints a hazy picture. Since the summer, numerous COVID-19 outbreaks have been tied to fitness centers, including ones in Elmhurt, Ill., San Diego, and Hawaii’s Oahu island.

Data released by the Minnesota Department of Health … Read the rest

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Post COVID – How To Bring Your Employees To The Office Safely

Since the coronavirus breached these shores, we’ve seen a huge surge in the number of employees working remotely and from home.

In fact, it’s estimated that 46.6% of the UK workforce operated remotely in April 2020 alone, with 86% of this number doing so solely as a result of the coronavirus pandemic.

While several larger companies have pledged to maintain remote working as a permanent arrangement, however, many are planning to bring their employees back sometime after spring.

But what steps can you take to do this successfully and safely?

1. Take Steps to Assuage Your Employees’ Concerns.

According to some surveys, almost half of workers want to continue working remotely even after a vaccine has been rolled out for the coronavirus pandemic.

This is a significant gap that employers will have to bridge in the near-term, especially with a growing number of firms pledging to maintain remote working … Read the rest

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Family Office buys Isle of Man fiduciary IQE

Boston Multi Family Office has completed its acquisition of IQE, an Isle of Man fiduciary, following approval by the Isle of Man Financial Services Authority.

The deal is the first acquisition since the management buyout at Boston in 2019.

All of IQE’s services and clients will transfer to Boston’s Isle of Man headquarters.

IQE Limited directors David Karran, Moira McHarrie and Anne Couper Woods have joined Katherine Ellis, Alex McNee and Sarah Ingrassia on the Boston board, with other IQE staff also transferring to Boston’s Hill Street offices.

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Boston CEO Katherine Ellis said: “We are delighted to welcome our new colleagues and clients to the Boston family. Due to the Coronavirus pandemic, this acquisition was, by necessity, managed entirely remotely so it is very pleasing that we can now work together as one team.

“I would like to acknowledge the professionalism of staff at both companies in bringing

… Read the rest

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Tony Hsieh, retired Zappos CEO, dies at 46

Tony Hsieh, the retired CEO of Las Vegas-based online shoe retailer Zappos.com who spent years working to transform the city’s downtown area, has died. He was 46.

Hsieh was with family when he died Friday, according to a statement from DTP Companies, which he founded. Downtown Partnership spokesperson Megan Fazio said Hsieh passed away in Connecticut, KLAS-TV reported.

Puoy Premsrirut, a lawyer for Hsieh, told news outlets that Hsieh had been injured in a house fire while visiting Connecticut. Additional details weren’t immediately released. An official cause of death wasn’t announced.

“Tony’s kindness and generosity touched the lives of everyone around him, and forever brightened the world,” a DTP Companies statement said. “Delivering happiness was always his mantra, so instead of mourning his transition, we ask you to join us in celebrating his life.”

Hsieh recently retired from Zappos after 20 years leading the company. The online shoe retailer shared … Read the rest

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Who’s The New Boss? How To Avoid Succession Planning Mistakes

by Jennifer Mackin, ForbesBook author of “Leaders Deserve Better: A Leadership Development Revolution“

Many corporations have endured a rough 2020 that included the resignations of top executives at some major brands. Will their replacements be ready? It’s a fair question, especially if the new company leader is promoted from within. Studies show many senior leaders don’t think their companies properly educate and prepare future leaders for succession.

If an organization has no pipeline of leaders ready to take over senior leadership positions, then a lack of succession planning can be catastrophic for even the most enduring company. Many companies don’t find the development of leaders significant until they are readying for succession planning, embarking on a new venture, or weathering storms that threaten their viability. This reactive approach is risky because development takes time.

It’s time for CEOs, senior leaders, and heads of HR to modernize … Read the rest

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Editor’s Column: Ominous failure of PI-hit adviser

Sceptics may have questioned warnings that the soaring cost of Professional Indemnity Insurance would put some advisory firms out of business. They may have to eat their words.

This week we learned that wealth manager Harwood had placed its subsidiary, appointed rep adviser firm Network Direct, into voluntary administration due in part to rising Professional Indemnity insurance costs.

It’s one of the first cases of an adviser firm being put out of business due to PI costs. Fortunately in this case another firm, Adviser Services Holdings Limited (ASHL), has swooped in to take over the remnants of Network Direct and offer its advisers new contracts.

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Network Direct’s advisers have been fortunate in this instance. Others in the future may not be.

Some may see Network Direct as a weak business and guilty of its own misfortune but it’s been around for 10 years and its advisers operated as

… Read the rest

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Gift Guide: How to turn your outdoor space into a year-round living room

Winter came especially early this year to Chicago—the first snowflakes were spotted on October 26th, to be exact. In this part of the country people are already used to braving the elements, but with COVID still running rampant, having an outdoor space that is usable (no matter what the temperature) has become the best way to ensure you can keep socializing with other humans during the darkest and coldest months of the year. Here, we tracked down six essentials for making your outdoor space feel like your favorite indoor space this winter.

Solo Stove Bonfire, $284

You may have thought most of society’s great leaps forward in terms of innovation recently have been in gene editing, or perhaps app design. But don’t underestimate fire pits, particularly the Solo Stove’s “smokeless” model. As the company explains it, “Strategically placed holes in the double-wall structure suck the air from the bottom … Read the rest

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How The Gig Talent Economy Can Help Your Organization Post Covid-19

by Hema Crockett and Jamie Jacobs, co-founders of Gig Talent and authors of “Designing Exceptional Organizational Cultures: How to Develop Companies where Employees Thrive“

We’re seeing it happen day by day. What we originally thought was going to be a few weeks of time away from the office, has now turned into several months of adjustments. Many organizations are 100% remote and appear to be so for the foreseeable future. In addition, employees have had to learn how to navigate a new and unfamiliar structure.

With COVID-19 impacting organizations everywhere and in different ways, it’s important to consider the changes that need to be made on the other side of the current crisis. We’ve seen breweries convert operations and make hand sanitizer while clothing companies sew scrubs and face masks. While some changes have been larger than others, we do know that work as we’ve known it has … Read the rest